The group's profits from operations increased by 74% to P25,350 million compared to P14,564 million in 2012. With sterling financial results, an interim dividend of P0.32 thebe, per share and interest of 16.21 thebe per debenture has been declared. The board say despite competitive property market in Botswana, due to increased supply of available office space, the strategic positioning of Masa Centre in the new CBD and its mixed-use nature will enable the group to benefit from this concentration of businesses in the new CBD."The Centre has now established itself as a preferred destination for business travellers in Botswana looking for a one stop environment to meet their business and entertainment requirements", the board said.
The group revenue increased by 59%, to P30,462 million, compared to P19,145 in 2012. "The profits before tax increased by 13% to P13,007 million compared to P3,034 in 2012", board said. They further noted that this comes at the back of a 307% increase in net finance costs to P12,343 million against P3,034 million in 2012, caused by expensing of borrowing costs which were previously capitalised in the Masa Centre development.RDC says the investment and property portfolio increased by 14% to P764,102 million, with Masa Centre being recognised as an investment property at fair value.
