Cresta Marakanelo Limited Reports Unaudited Group and Parent Financial Results for the Six Months Ended June 2018; Provides Group Financial Guidance for 2018
For the six months, the parent company reported revenue of BWP 155,134,000 against BWP 141,448,000 for the same period of last year. Operating profit was BWP 4,168,000 against BWP 8,201,000 for the same period of last year. Profit before income tax was BWP 4,607,000 against BWP 8,522,000 for the same period of last year. Profit for the period was BWP 3,590,000 against BWP 6,639,000 for the same period of last year. Basic and diluted earnings per share was 1.98 thebe 3.67 thebe for the same period of last year. Net cash generated from operating activities was BWP 13,727,000 against BWP 21,338,000 for the same period of last year. Purchase of property, plant and equipment was BWP 20,470,000 against BWP 14,885,000 for the same period of last year. Purchase of computer software was BWP 493,000 against BWP 39,000 for the same period of last year.
Despite an expected improvement in performance during the second half of 2018, the Group's net profit for the year is anticipated to be below last year's performance. The new Maun hotel will continue to have a negative impact on Group's results in the short term.