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    Karateka targets international titles

    Botswana gears up for high-stakes Gabs Open karate showdown

    Orange Botswana Awards P390,000 to Historic 4x400m Relay Champions, Coaches & BAA

    Orange Botswana Awards P390,000 to Historic 4x400m Relay Champions, Coaches & BAA

    Eppieโ€™s breakthrough hints at a brighter future for Botswanaโ€™s 400m

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    Sports chief raises alarm over doping spike amid Region 5 triumph

    Sports chief raises alarm over doping spike amid Region 5 triumph

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    Karateka targets international titles

    Botswana gears up for high-stakes Gabs Open karate showdown

    Orange Botswana Awards P390,000 to Historic 4x400m Relay Champions, Coaches & BAA

    Orange Botswana Awards P390,000 to Historic 4x400m Relay Champions, Coaches & BAA

    Eppieโ€™s breakthrough hints at a brighter future for Botswanaโ€™s 400m

    Eppieโ€™s breakthrough hints at a brighter future for Botswanaโ€™s 400m

    Under Babitseng BFA will be transparent and accountable

    BFA slashes deficit and eyes bright future with financial reform and football revival

    Sports chief raises alarm over doping spike amid Region 5 triumph

    Sports chief raises alarm over doping spike amid Region 5 triumph

    ๐ƒ๐ž๐›๐ฌ๐ฐ๐š๐ง๐š ๐‘๐ž๐œ๐จ๐ ๐ง๐ข๐ฌ๐ž๐ ๐จ๐ง ๐ˆ๐ง๐ญ๐ž๐ซ๐ง๐š๐ญ๐ข๐จ๐ง๐š๐ฅ ๐ฌ๐ญ๐š๐ ๐ž ๐ฐ๐ข๐ญ๐ก ๐€๐”๐’๐‚ ๐ฆ๐ž๐๐š๐ฅ ๐จ๐Ÿ ๐‡๐จ๐ง๐จ๐ฎ๐ซ

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Home Companies & Markets

Chobe Holdings Back to Glory Days of Profitability

mm by Baboloki Meekwane
May 29, 2023
in Companies & Markets
Reading Time: 2 mins read
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Chobe Holdings Back to Glory Days of Profitability
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  • Eco-tourism outfit expects P185 to P190m in PBT
  • Strong recovery in tourism post-COVID boosts profits

Leading eco-tourism company Chobe Holdings has returned to profitability with a bang after a string of unsatisfactory results in the past years characterised by COVID-19 restrictions.

The outbreak of the pandemic in Botswana in early April 2020 resulted in immense revenue losses emanating from accommodation cancellations as tourists were forced to cease travel. Last week, the BSE-listed blue chip hospitality and eco-tourism outfit has indicated that it has returned to its days of glory, forecasting a strong surge in profit before tax (PBT).

The company announced through a cautionary statement published on the BSE that its PBT for the year ended 28 February 2022 is likely to be between 357 perccent โ€“ 367 percent or P185 million and P190 million higher than profits reported for the comparative period ended 28 February 2021 that amounted to a loss of P51.8 million, primarily attributed to COVID-19. According to the Chobe Holdings Board of Directors, the Group will be publishing its audited consolidated summarised financial results for the year ended 28 February 2023 before 31 May 2023.

This will include commentary on the drivers for the improved performance. โ€œAccordingly, shareholders and investors are advised to exercise caution when dealing in the companyโ€™s securities until the results are formally published,โ€ said the cautionary statement. After the COVID-19 pandemic, which impacted the tourism sector primarily due to the travel bans to contain the virus, Chobe Holdings has been recording constant recovery. In its six months results period ended August 2022, the company indicated that its pre-tax profits rose to P103.3 million from a loss of P28.2 the previous corresponding period.

According to the directorsโ€™ commentaries accompanying the released interim results at the time, the turnaround in Chobesโ€™ fortunes was largely due to the loosening of the travel restrictions associated with COVID-19 towards the end of the previous financial year. The directors also explained that the financial performance had been underpinned by steadily improving occupancies across the Groupโ€™s wildlife properties, with the premium Ker and Downey Botswana brand showing the earliest signs of improvement and the most resilience going forward.

Tags: Chobe HoldingsCOVID-19Ker and Downey Botswana

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