Wilderness expects higher results
Wilderness Safaris announced that its interim results are expected to be higher than the previous period.In the same period last year, the group recorded 25 percent increase in profits to P117 million, revenue increased by 10 percent to P705 million while the occupancy rate declined marginally to 65 percent.
The company advised shareholders to exercise caution when dealing in the company’s securities. “Wilderness Holdings Limited announces that the company’s results for the half year ended 31 August 2018 are likely to be materially higher than those achieved in the corresponding period in the prior year,” reads the statement.
In its year ended February 2018, the group recorded 39 percent increase in profits after tax to P87 million contributed by the increase in bed night sales which rose by eight percent to P178.3 billion. Revenue increased to P1.2 billion driven by the increase in bed night sold. Wilderness Holdings Group,Chief Executive Officer, Keith Vincent said the group’s strategic intent is to invest in African tourism markets, which offers authentic wildlife and safari experiences.
“The Group’s strategic is to invest in African tourism markets which offer authentic wildlife and safari experiences and where we feel our specific ecotourism model can have positive conservation and community impacts,” said Vincent. The group offers access to 2.5 intent million hectares of Africa’s wildlife and wilderness areas through some 50 luxury camps and safaris across eight African countries, Botswana, Kenya, Namibia, Rwanda, Seychelles, South Africa, Zambia and Zimbabwe. In Botswana, the group recorded highest performance of P118.7 million followed by South Africa with P30 million. Rwanda and Kenya are the least performers with P15.2 and P5 million respectively.