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
SADC must see its words become action

An election is held in a member state, international observers raise concerns, but the Southern African Development Community (SADC) often remains silent or offers only gentle, diplomatic praise. This has led to a widespread belief that the regional body prioritises solidarity amongst governments over the democratic rights of ordinary citizens. This is why the preliminary statement from the SADC Electoral Observation Mission (SEOM) on...

Have a Story? Send Us a tip
arrow up