Tuesday, January 31, 2023

Weaker Pula hikes Chobe Holdings revenue

Chobe Holdings has realised a 19 percent surge in revenue as a consequence of higher achieved rates, a weaker Pula against the US Dollar and increased capacity following acquisition of Moremi Safaris.

In November last year, the safari company, which also has operations in Namibia, released their interim results for the six months ended 31 August 2013, which indicated that profit after tax (PAT) leaped up by 83 percent on year-to-year basis. However for its full year results, Chobe Holdings has recorded a profit after tax of 28 percent. The company also announced a 9 percent rise in occupancy levels while capital expenditure of P15.6 million has been recorded. The financials further reflect that the company recorded cash and cash equivalents of P43.7million and maintained negligible debt.

Chobe Holdings owns and operates 10 eco-tourism lodges and camps on leased land in northern Botswana and the Caprivi Strip in Namibia with a combined capacity of 290 beds. The multinational company also owns and operates Desert and Delta Safaris Ker and Downey Botswana which is one of the country’s oldest safari operators. The company has been operating in the safari business in northern Botswana since 1983 and it is one of the most renowned photographic safari operators in the region. The Botswana Stock Exchange listed entity also operates five camps and lodges in the Moremi Game Reserve, Okavango Delta, and Chobe National Park and on the fringes of the Makgadikgadi Pans National Park, with a total 112 available beds.

Meanwhile in a statement accompanying the results, the company management announced that a 23 thebe per share dividend has been declared for the period under review as the company focuses on expanding. The directors further noted that there are certain amounts of unclaimed dividends in the company records.

“Shareholders are reminded to contact the transfer secretaries to claim their outstanding dividends”, the directors said.

The team further said it is optimistic about growth in North America and Australia which could ultimately contribute to the group’s revenues. By close of business at Botswana Stock Exchange on Friday the company shares traded by 355 thebe per share


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