High operational costs weigh on BIHL profits

Group revenues decreased by 14% to P2.1 billion during the financial year ended December 31, 2016 from P2.4 billion in the corresponding period. Profit before tax also declined by 20.2% from P722 million in 2015 to P576 million in 2016.

Presenting the financial results in Gaborone this week, BIHL chief executive officer, Catherine Lesetedi-Letegele said the business has seen a decline in new business, which has been compounded by rising operating costs.