Over the last few years, property has seen a marked interest and remains an undeniable safe haven for investors. The importance of the place to live and associated comfort increased the attractiveness of our smart city portfolio.
This year saw the turnaround of Hospitality, going from losses of Rs 2.5 billion last year to profit of Rs 369 million. Focus was on the post-COVID-19 resumption of operations, border reopening and finally allowing the business to function at total capacity.
2021: Rs 859 m
Profit after tax*
2021: Loss after tax Rs 2.5 bn
*from continuing operations
Our businesses remained exposed to increasingly difficult and unstable economic and market conditions driven by the pandemic.
The favourable operating context was reflected in the increase in revenue per tonne of sugar from Rs 16,010 to Rs 21,955. Tonnage of food crop produced increased by 27% to 2,000 tonnes. Landscaping services performed well and in line with the booming real estate industry. The farming sub-segment delivered a good performance for the year with better prices for poultry.
“In spite of the lingering geopolitical and global supply chain headwinds, the group maintained its focus on driving performance whilst managing the downside risks on the local and international fronts.”
Audit and Risk Management Committee
Dynmic risk Heatmap of ENL group
The principal risks depicted on the diagram are the outcome of discussions with Senior Management and Audit and Risk Committee (ARMC) members to identify and prioritise those risks that can impact ENL.
Tier 1 risks, those in the upper-right hand quadrant, are of greater concern. The symbol ‘X’ in the heatmap denotes the risk position of last year.