Johannesburg - Conservation tourism pioneer Wilderness Holdings on Monday reported diluted headline earnings of 20.57 thebe for the
year ended February 28 2010, from a prior loss of 0.13 thebe.
rand terms the group's HEPS were at 20.89 cents.
The group recorded diluted earnings per share of 20.57 thebe (21.02 cents) from a prior
loss of 1.14 thebe.
The company was listed on the Botswana Stock Exchange, with a secondary inward listing on the
Africa board of JSE, on April 8.
Revenue declined 12% to 868 139 pula, but operating profit for the year was up 12% to 61
million pula in comparison with the previous year.
dividend was declared.
CEO Andy Payne said it had been a challenging year for the tourism industry
worldwide as a result of the global economic downturn, which had a significant impact on tourism spend.
Occupancy levels in the company's mature-state business declined from 65% to 59%, while
those in its developing and Zimbabwe-based businesses dropped from 42% to
Looking ahead, Payne said the tentative upturn in the global economy had resulted in an
improvement in market conditions which should result in occupancy levels
rising slightly in the year ahead, but there is still a high level of
uncertainty in world markets.
"Barring any further deterioration in trading conditions or a continued strengthening of the pula and rand against the dollar, we are cautiously optimistic about
"Given the significant cost savings and rightsizing we achieved during the year, as well as
the strength of our balance sheet which will be further buoyed by the $4.5m sale of the assets of our Duba Plains camp in
Botswana, we are ready to weather any further storms and to capitalise on a
rebound in the market," he said.
"Meanwhile the company will continue to focus on achieving financial growth through
increasing our market share and investing in marketing and operating scale
- I-Net Bridge