Shareholders of Wilderness Holdings, the leading eco-tourism outfit in Botswana and the region have every reason to be cheerful as the company warned the markets this week that its latest full year results to be presented in May will be better than the prior year.
The Botswana Stock Exchange (BSE) listed group, which trades as Wilderness Safaris and prides itself with Mombo camp in The Okavango Delta, has not elaborated on why net earnings will be much higher.
“The Listings Requirements of the Botswana Stock Exchange require a listed company to announce through the BSE and the Press, any circumstances or events that have, or are likely to have, a material bearing relating to the financial results of the company for the next reporting period,” the company said in a note on the BSE.
“The Board of Wilderness hereby announces that the Group’s profit after tax for the year ended 28 February 2014 is likely to be at least 50 percent higher than that achieved in the comparative period ended 28 February 2013,” it added.
Wilderness Safaris operates and safari camps in some of southern Africa’s best wildlife and wilderness areas across five different countries: Botswana, Namibia, Malawi, Zambia and Zimbabwe.
The company was conceived in Botswana in 1982, with nothing more than a single land rover and currently is invested in 53 destinations and employing 2 705 people, 85 percent of whom come from remote rural communities adjacent to the areas it seeks to protect.
The company is also a tour operating business with its main booking office located in Johannesburg and with established relationships with some 2000 agents in the travel industry across the world.
The group’s turnover in the half year period ended 31 August 2013 increased by 16 percent to P778 million from P672 million and profit after tax rose by 72 percent to P48.6 million.
“Full details together with an explanation of the factors giving rise to the improvement in performance will be given in the announcement of the audited results, due to be released on the 31st May 2014. Accordingly shareholders are advised to exercise caution when dealing
in the company’s securities,” it advised.