enl commercial limited annual report 2011 - Investing In Africa

ACTIVITIES
Established in 1976, Plastinax Austral manufactures plastic injected
sunglasses and reading glasses for export markets, mainly to the USA
and Europe. The company has a successful history supplying superior
quality eyewear products to major players in the industry.
Plastinax Austral works in close partnership with its customers to
develop their collections by offering design services, visualisation
through hand-made prototyping, fine-tuning through 3D drawings and
computer generated physical prototypes prior to the manufacturing of
moulds for production. Plastinax Austral has representatives based in
the USA and Europe who are responsible for developing its markets and
offering proximity assistance and service.
MANAGEMENT TEAM
Nicholas Park - General Manager
Didier Lagane - Technical Manager
Didier de Spéville - Marketing & Sales Manager
Thierry Lagane - Production Manager
Hubert Koenig - Supply Chain Manager
Nicolas Angeline - Financial Manager
YEAR REVIEW
192,759
160,852
191,934
173,312
215,311
7,970
For the financial year ended June 30, 2011, Plastinax Austral exported
more than one million units, an increase of 46% from the previous year,
and generated a turnover of Rs 215.3m, representing an increase of
25% from the previous year. The gross profit reached Rs 60.3m (+73%).
Profit before finance charges amounted to Rs 11.4m, a satisfactory
turnaround compared with previous years losses. Despite adverse
macroeconomic conditions, with a continued slow worldwide demand,
and a 14% appreciation of the Mauritian Rupee against the US Dollar
for the period, the company has managed to increase its sales and
revenues. This has been made possible through the securing of four
large new clients, and the consolidation of the existing customer base.
PROSPECTS
(12,542)
2007
(23,285)
2008
3,902 (14,976)
2009
2010
2011
Plastinax Austral has secured two additional large accounts for exports
starting this coming financial year. This breakthrough is expected to
increase export volumes by approximately 20%. To ensure a good
control of this expansion, the company has recruited key personnel
in order to consolidate its management team with a head of finance,
a head of quality control and an industrial engineer. Investments have
been made in three new injection molding machines and one new highend
lens-cutting machine, in order to enhance first-time quality, contain
production costs and increase productivity.
Turnover (Rs’000)
Operating Profit (Rs’000)
24
ENL Commercial Limited
Annual Report 2011