BBS profit down by 4%
Tuesday, August 11, 2009
Despite the profit knock, the Society's mortgage book grew by 20 percent while operating income was P135 million, an increase of P13 million on the previous year.
BBS Managing Director Pius Molefe said the reduction on profitability was caused by an increase in provisions as a result of difficult trading conditions emanating from the general slowdown in the economy.
It is a clear signal that the government’s purse is empty and that our own behaviour has left veterinary officials fighting with one hand tied behind their backs. We have been here before. During COVID-19, many of us thought we knew better. We ignored simple rules, we carried on as if the danger was someone else’s problem, and the virus took lives and left our economy on its knees. We are still broke from that experience. Yet now, with FMD...