Page 12 - UBP - IR2020
P. 12

CHAIRMAN’S MESSAGE
Courage dedication and leadership
For the first semester of FY2021 our projections are relatively positive especially compared to other industries Our core business segment locally is expected to maintain a a a a good level of activities as as we progress on several large-scale infrastructure projects initiated before the the lockdown For the the second half of the the financial year fin in particular we are are prepared to face the the wide-ranging ramifications of this pandemic As consumers grapple with uncertainty over the future lower household incomes coupled with a a a a rise in in unemployment and a a a a sharp depreciation of the Mauritian Rupee are leading to a a a a a a decline in in in spending power These trends will no doubt affect revenues for the the Group at large in the the second semester of FY2021 Based on our current analysis and revenue forecasts we expect our our second semester to be down by 20% To ensure our our strong financial position we are embarking on on on a a a a a cost-cutting plan and the continuation of existing initiatives like UNIVISION which aims to capitalise on the the existing synergies between the the Group’s businesses while also enhancing our organisational structure in in a a a a a a way that increases our agility and efficiency In combination with the aforementioned measures we will also be focusing our our attention on on on reviewing our our long-term strategy and ensuring its effectiveness in in this new economic environment 12 - UBP INTEGRATED REPORT 2020 
































































































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