(Boursier.com) — The group Ruby recorded in the third quarter of 2022 a turnover of 2,042 ME, up 70% compared to the previous year, due to the rise in oil prices (+80%). Rubis, as a distributor, in fact passes on the increase in the cost of supply to the selling price. Consequently, the relevant criteria for the growth of activity and results are volumes and unit margins rather than turnover.
The Distribution activity (85% of consolidated revenue) experienced volume growth of +1% (excluding Haiti and aviation in East Africa) in the third quarter of 2022 and excellent unit margin development, leading to a 16% increase in gross margin (+17% over 9 months). However, published volumes recorded a slight drop of 3% in the third quarter of 2022 (+3% over 9 months).
“The third quarter of 2022 saw another excellent performance in the Caribbean region in terms of volumes and gross margin. This region remained one of the main drivers of the growth of the Group’s results, alongside the improvement operations in East Africa,” explains Rubis. For the 2022 financial year, despite the normalization of the basis of comparison and an uncertain macro-environment, the group remains confident in its ability to generate good growth in its results.
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