Property disposal boosts Turnstar profit

Thursday, April 28, 2016

The recent sale of Turnstar Holdings’ Fairground Office Park property to Botswana Life Insurance has generated a profit of P7.5 million for the year ended January 31, 2016.

The proceeds from the disposal helped boost the property giants’ year-end profits, which rose 23 percent to P149 million. Managing director, Gulaam Husain Abdoola stated in the recently published group’s financial results for the period that Turnstar completed the sale of the property for a sum of P129 million, excluding value added tax (VAT).

“The proceeds of the sale will be reinvested in further yield enhancing opportunities,” he said.

Already have an active account? Log in here.

Or Sign up and get unlimited access to premium articles.

For the people: Stanbic Bank representatives in Letlhakane during an event. The bank has doubled down on its customer-focus and digital platforms PIC: FACEBOOK

Stanbic pretax profits up 11%

Mbongeni Mguni | 10 h ago

The audacity to be a unicorn

Mbongeni Mguni | 19 Apr 2024

Faulty gadgets top complaints to BOCRA

Mbongeni Mguni | 1d ago

Civil Society fights 'flawed' constitutional amendment

Innocent Selatlhwa | 22 Apr 2024

Civil Society calls for Constitution review governing Act

Innocent Selatlhwa | 22 Apr 2024

IEC rejects 2,513 registrations

Innocent Selatlhwa | 22 Apr 2024

Motshegwa prevails against detractors

Goitsemodimo Kaelo | 22 Apr 2024

Serowe woman ingests acid, attempts suicide

Pini Bothoko | 22 Apr 2024

Inspect the voters' roll!

The recent disclosure by the IEC that 2,513 registrations have been turned down due to various irregularities should prompt all Batswana to meticulously review the voters' rolls and address concerns about rejected registrations.The disparities flagged by the IEC are troubling and emphasise the significance of rigorous voter registration processes.Out of the rejected registrations, 29 individuals were disqualified due to non-existent Omang...

The Monitor Editor | 23 April 2024

About us

Mmegi is the leading independent source of breaking news, latest news, current
affairs, Politics, Business, Sport, debates, analysis, and entertainment news in Botswana.

Explore

More

Property disposal boosts Turnstar profit

The recent sale of Turnstar Holdings’ Fairground Office Park property to Botswana Life Insurance has generated a profit of P7.5 million for the year ended January 31, 2016.

Stanbic pretax profits up 11%

The audacity to be a unicorn

Faulty gadgets top complaints to BOCRA

Civil Society fights 'flawed' constitutional amendment

Civil Society calls for Constitution review governing Act

IEC rejects 2,513 registrations

Motshegwa prevails against detractors

Serowe woman ingests acid, attempts suicide

Inspect the voters' roll!