the monitor

Cresta Marakanelo bounces back from losses

Mokwena Morulane
Mokwena Morulane

Hospitality outfit, Cresta Marakanelo Limited has recorded a P5.9 million in profit before tax compared to P35.2 million loss that was recorded previously in the corresponding period.

The group attributed the improvement to increased occupancies and cost reduction measures implemented, some of which will continue for the long term.

Commenting on the group’s unaudited consolidated financial results for the six months ended June 30, managing director (MD), Mokwena Morulane said tourism and hospitality sectors experienced a surge in the rebound momentum in 2022, and Cresta was no exception.

Editor's Comment
Get back what was stolen, and lock the door

That a single private law firm pocketed P6.5 million for just four cases, out of a total P11.1 million paid for 25 matters, reeks of a system that was not merely disorganised but open to abuse.Bayford has taken a welcome first step by telling the Public Accounts Committee the truth. Now he must act decisively to ensure it never happens again and that any money lost to wrongdoing is recovered.The figures are staggering. Whilst ordinary Batswana...

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