Higher costs weigh down Imara financials

BSE-listed finance house, Imara Holdings, has released a weak set of interim results for the period ending 31 October 2010, in which they registered a P5.1 million loss despite revenue growing by 5 percent to P47.2million.

During the comparative period in 2009, the group made a profit of P6.3m.

In a statement accompanying the results, management says the loss includes certain non-recurring expense items, namely, re-branding and a share of prior year losses from a Malawi associate totalling P1.62mn.

Editor's Comment
Gov’t must rectify recognition of Khama as Kgosi

While it is widely acknowledged that Khama holds the title of Kgosi, the government’s failure to properly gazette his recognition has raised serious concerns about adherence to legal procedures and the credibility of traditional leadership. (See a story elsewhere in this newspaper.) Recent court documents by the Minister for Local Government and Rural Development, Kgotla Autlwetse, shed light on the intricacies of Khama’s recognition process....

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