BDC bounces back to profitability

Gaetsaloe
Gaetsaloe

The Botswana Development Corporation (BDC) has snapped a three-year loss-making streak to record a profit for the year ended June 2015, marking the first fruits of its five-year turnaround strategy.

Buoyed by increased revenues, reduced expenses as well as a P60 million injection from subsidiary divestments, the government investment arm registered a profit of P110 million before tax, at company level, from a loss of P67 million in the corresponding period.

 At group level, which factors in the corporation’s approximately 46 subsidiaries, revenues rose 19 percent to P340 million pushing profit before tax to P247 million from P36 million in 2014.

Editor's Comment
Our queen: Bring home the crown

Well-wishers gathered at the Sir Seretse Khama International Airport to bid our queen farewell and wish her success as she joins other beauties from around the globe for the coveted crown. Competing in such events is nerve-wracking, and one needs to be fully prepared to stand a chance of making it as a finalist.It is not just about physical fitness; mental state matters too. Unfortunately, sometimes our queens end up facing such fierce...

Have a Story? Send Us a tip
arrow up