Cresta Marakanelo Limited

Cresta Marakanelo Limited – Trading Statement For Year Ended 31 December 2023

By Published On: March 22nd, 2024Categories: Corporate announcement, Earnings, Trading update

In terms of paragraph 5.4(c) of the Botswana Stock Exchange listing requirements, companies are required to publish a trading statement as soon as they have reasonable certainty that the financial results for the period to be reported upon will differ by at least 10% from those of the previous corresponding period.

Shareholders are advised that the audited company profit before tax of Cresta Marakanelo Limited (“the Company”) for the year ended 31 December 2023, is estimated to have increased by 50% to 60% (P10.8 million to P13.0 million) compared to the P21.7 million reported for the year ended 31 December 2022. This improvement in performance in the current year compared to the previous period is predominantly due to the Company leveraging the recovery of the inbound international tourism, increased activity in the meeting, incentive, conference and exhibitions space and continuous cost optimisation focus.

The summarised audited financial statements for the year ended 31 December 2023 will be released by 31 March 2024. Accordingly, Shareholders are advised to exercise caution when dealing in the Company’s securities until a full announcement is made.

The information in this announcement has not been reviewed by the Company’s independent auditors.

For and on behalf of the Board of Directors.

22 March 2024

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