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      Debswana sponsors BFA’s National First Division League with P3.9m 

      Debswana sponsors BFA’s National First Division League with P3.9m 

      Ditlhokwe Tipped to Excel at Kaizer Chiefs

      Ditlhokwe Tipped to Excel at Kaizer Chiefs

      BCF Aims to Resuscitate Chess this Year

      BCF Aims to Resuscitate Chess this Year

      Tebogo’s Move to US on Hold

      “Don’t Panic,” Tebogo is advised as He Transits to Senior Level

      NSAs decry Absence of School Sports 

      NSAs decry Absence of School Sports 

      BCF fails to send Team to Continental Schools Chess Champs

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      P4.5 million capital appreciation of Rail Park propels Letlole’s fair value gain

      In line with section 5.4 (c) of the of the Botswana Stock Exchange Limited (BSE) Equity Listing Requirements, an issuer must publish a cautionary announcement as soon as they are satisfied that a reasonable degree of certainty exists that the expected profit or loss (before tax) for the period to be reported upon next will differ by at least 10 percent from the most recent financial results for the previous corresponding period.

      mm by Staff Writer
      February 8, 2022
      in Companies & Markets
      Reading Time: 1 min read
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      P4.5 million capital appreciation of Rail Park propels Letlole’s fair value gain
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      Board of Directors of Letlole La Rona Limited (LLR) announced that the Company is expecting profit before tax (from continuing operations) for the half year ended 31 December 2021 to be between 55 percent and 65 percent above the prior year’s profit. In pula terms this is between P18.0 million and P21.3 million higher than the previous P32.8 million.

      The main reasons for the significant increase in the Company’s profitability is the maintenance of the weighted average annual lease escalations of 7 percent, high occupancy rates achieved during the period and tight cost control measures that have been implemented, says the board. The above, coupled with the impact of the economic recovery, have had a positive effect on the valuations of the investment properties, leading to a net fair value gain of P12.1 million in the current period compared to the P8.4 million fair value gain from the prior year, the board explained.

      Effective December 2021, the Company acquired a 32.79 percent shareholding in JTTM Properties (Proprietary) Limited, a company that owns one of the prime retail malls in Gaborone, Rail park Mall, for a purchase consideration of P152 million. As at 31 December 2021, LLR’s value in Rail park Mall had increased by P4.5million, contributing to the substantial improvement in the financial results of the Company.  The Company is currently finalising its unaudited results for the half year ended 31 December 2021.

      Tags: Letlole La Rona Limited (LLR)Rail park Mall

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