BR Records P4 Million Loss
The Botswana Railways (BR) reported an operating loss of P4 million for the financial year ended March 31, 2003. Giving the financial highlights in the 2003 annual report, acting General Manager, Reginal Ketshabile said the net loss for the year after taking into account, non-operating income, interest on government loans and diminution in value of foreign investments was P8 million against a profit of P19 million in the previous year. He said the financial statements thus reflected an accumulated profit of P12 million compared to P21 million as at the end of the previous financial year.

Investor Complains About Strong Pula
Debswana diamond mining company has reported reduced revenue for the year ending 2003 because of the high exchange rate of the Pula against the Dollar. The revenue dropped to P10.4 billion from P11.1 billion in 2002 despite increased carat production from 28.4 million in 2002 to a record of 30.4 million. The largest market in the world for the diamonds is the US.

Debswana Slows Down De Beers Output Target
The carat output of De Beers Group is lagging behind by nearly 20 percent, the company’s interim financial results show. The results indicate that the group may fail to meet its targeted seven percent carat output this year because of problems at the Debswana treatment plant.