Bloomberg News

Terra of Mauritius Heads for Record High After Profit Doubles

March 29, 2012

Terra Mauricia Ltd. (TERA), a Mauritian company with interests in specialty sugars production and energy, headed for a record high after announcing that 2011 profit more than doubled.

The stock gained 2.6 percent to 40 rupees, its highest since Jan. 6 after its new listing under the investment segment of Stock Exchange of Mauritius, by 10:55 a.m. in Port Louis, the capital. The company previously traded as Harel Freres Ltd.

“It will probably close at a new all-time high today,” Bhavik Desai, a research analyst at AXYS Stockbroking Ltd., which rates the stock as a buy, said in a phone interview.

Terra Mauricia announced after the market closed yesterday that net income for the year through December rose to 582.7 million rupees ($20.1 million) from 250.4 million rupees a year earlier, as its sugar division reversed losses.

To contact the reporter on this story: Kamlesh Bhuckory in Port Louis at kbhuckory@bloomberg.net

To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net


We Almost Lost the Nasdaq
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus