Volatile exchange rates depress Wilderness profits

Announcing the group's results for the six months period ended August 2010, the company says despite lukewarm demand from its key European markets and a slow Soccer World Cup, they maintained the number of bed nights sold and grew yield in local currencies. Overall, the group sold 81, 300 bed nights at the halfway stage, compared to 81, 253 at the same time last year.

Turnover for the company, which is listed on the Botswana Stock Exchange and the Africa Board of JSE Limited, increased by P28 million to P574 million for the six months to 31 August 2010 in a challenging trading environment. Chief executive Andy Payne said while market conditions remain challenging, the company has performed well. "The business has experienced real growth in bed night sales, downward pressure on yield has been well managed and on a like-for-like basis, the costs have increased within expected levels," he said.