Olympia Capital (Botswana) FY2021 sales down 10% to P39.86 million

By Published On: March 29th, 2022Categories: Corporate announcement, Earnings

Olympia Capital Corporation Limited Abridged Results Document

 Commentary

The OCCL group faced numerous challenges in 2021 arising from supply chain interruptions, the steep rise in cost of factor inputs, high freight costs and revenue generation interruptions that arose due to the strict Covid 19 measures/protocols taken by governments in the markets we operate as a result of a surge in infections.

Sales for the year stood at P 39.86million, down by 10% of the sales for the year ended 31 December 2020. We are however pleased to note that operating expenses remained contained. Our operating profit for the year dropped significantly to P479,191 from P3.251’261 in the previous period.

The disruptions of 2021 forced the company to procure materials at higher costs and also end up stocking up on scarce production inputs and this has significantly impacted our cash and bank balance where we had P7.5million and an overdraft of P39,643 in 2020 compared to P4.1million with an overdraft of P1.9million in 2021.

Dr Christopher Obura
Group Chairman


 

Olympia Capital Corporation Limited (OLYMPI.bw)

Share price: 26.00 Thebe (0.00 | 0.00% – 28/06/22)

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