In terms of paragraph 5.4(d) 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 next will differ by at least 10% from those of the previous corresponding period.
Shareholders are advised that the unaudited consolidated profit before tax (“PBT”) of Cresta Marakanelo Limited (“the Company”) for the six months ended 30 June 2020, is estimated to be 440% to 460% (P53.5 million to P55.9 million) lower than the PBT of P12.1 million reported for the six months ended 30 June 2019.
The decline in profitability is as a result of the COVID-19 pandemic which led to reduced demand for accommodation and conferencing in the Company’s hotel properties in March. A national lockdown resulted in the closure of the hotels for normal operations from 2 April 2020 to 4 June 2020.
The unaudited interim financial statements for the period ended 30 June 2020 will be released on or about 31 August 2020. 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.