Omnicane of Mauritius Rises to Two-Month High on Profit Gain
Omnicane Ltd. (MTMD), a Mauritian company with interests in refined sugar production and energy, rose to its highest level in more than two months after announcing full- year profit climbed 58 percent.
The stock advanced for a third straight day, gaining 1 rupee, or 1.4 percent, to 73 rupees by 12:55 p.m., in Port Louis, the capital, its strongest intraday level since Jan. 19.
Net income for the 12 months through December advanced to 392.9 million rupees ($13.6 million) from 248.9 million rupees a year earlier, the company said in a statement published on the Stock Exchange of Mauritius website today. Revenue rose 13 percent to 3.91 billion rupees.
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