Mauritius Omnicane pretax profits dive 52 pct in 2014Quote:Omnicane said pretax profit fell to 269.35 million rupees ($7.80 million) from a year earlier, while earnings per share fell to 3.20 rupees from 6.24 rupees.
"The sugar price is still under pressure in the EU market and no improvement is expected," Omnicane said in a statement, adding it was exploring ways to improve profitability in its sugar business.
Omnicane also produces electricity from the waste it generates from milling sugar, which it sells to the national grid. Since last April, it has operated an ethanol plant.
Commodities have been taking it in the chin. MSC is closely fixed in this commodities price slump.
If a firm like Omnicane can nosedive this way, God help MSC
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!