Cresta profits halve as occupancies drop
Tuesday, September 12, 2017
Cresta says the hospitality sector is under pressure in towns and cities
During the six months ended June 30, 2017, the group, which provides hotel and related services in Botswana and Zambia recorded an overall profit before tax of P9.1 million for the period, reflecting a 50% drop from the result recorded for the same period last year.
On the other hand, revenue printed at P153 million representing a four percent decline from P160 million that was recorded for the same period in the prior year.
Whilst the project received mixed reactions from members of the public, the project is indeed a welcome development, which needs to be implemented as soon as possible. Many shared their opinion, with those against the project decrying that if implemented, it will kill the already struggling public transport industry.Many countries around the world have state-run public transport, and those who have travelled to such countries will give testimony...