Mauritius Telecom 2011 profit rises

Telecoms

Mauritius Telecom posted a slight rise in pretax profit last year, up 4 percent to MUR 2.55 billion, on revenues of MUR 3.5 billion, Reuters reported. It posted a 4.3 percent rise in mobile revenues, while the internet segment saw revenues climb 14 percent to MUR 766 million.

Earnings per share rose to MUR 9.77 from MUR 8.98 a year ago. France Telecom owns 40 percent in the operator, while the government and State Bank of Mauritius jointly own 59 percent, and 1 percent is owned by present and former employees.

The company was expected to list in 2010 and raise USD 1.5 billion, according to the budget that year, but the plan was shelved after the global financial crisis. Chairman Appalsamy Thomas said, referring to the timing of an eventual bourse debut, that shareholders tend to await a favourable economic environment before launching an IPO.