Results for the comparative period last year amounted to a loss of P28.15m
For the half-year that ended 31 August 2022, eco-tourism outfit Chobe Holdings Limited is hopeful that its profits will increase my more than P130 million.
This is revealed in Chobe’s cautionary statement for the period under review published with the Botswana Stock Exchange (BSE) recently.
In terms of the Listings Requirements of the BSE, the company is required to announce through the BSE any circumstances or events that have or are likely to have a material effect on the financial results of the Group for the period to be reported upon next.
“The Board would like to announce that the Group’s results before tax for the half-year ended 31 August 2022 will likely be between 465 and 470 percent (approximately P130.9 million to P132.3 million) higher than that reported for the comparative period ended 31 August 2021 which amounted to a loss of P28.15 million,” Chobe says in the statement.
Chobe will therefore publish its unaudited consolidated summarised financial results for the period under review before 5 November 2022. “This will include commentary on the drivers for the improved performance,” reads the statement.
“Accordingly, shareholders and investors are advised to exercise caution when dealing in the company’s securities until the results are formally published.”
Chobe Holdings owns and operates, through its wholly owned subsidiaries, 14 eco-tourism lodges and camps on leased land in Northern Botswana and the Caprivi Strip in Namibia with a combined capacity of 336 beds under the brands Desert & Delta Safaris and Ker & Downey Botswana.