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Cresta Marakanelo bounces back from losses

Monday, October 03, 2022 | 90 Views |

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.

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