Wilderness Holdings, which listed recently on the Botswana Stock Exchange and the Johannesburg Stock Exchange’s Africa board, has posted a P48m (R49m) profit in its maiden results as a listed company for the year ending February 28.
 
Chief executive Andy Payne said it had been a challenging year for the tourism industry worldwide as a result of the global economic downturn, which significantly impacted on tourism spend. 
 
Wilderness, he said, was able to limit the impact of lower demand on profitability by significantly reducing expenditure without compromising on guest experience or facility maintenance. 
 
This resulted in a 4% increase in its gross profit percentage over the previous year.  Operating profit for the year, up 12% in comparison with the previous year, was also impacted by the strength of the rand and the pula against the US dollar.
 
Looking ahead, Payne said the tentative upturn in the global economy had resulted in an improvement in market conditions, which should result in occupancy levels rising slightly in the year ahead, but there was still a high level of uncertainty in world markets. “Barring any further deterioration in trading conditions or a continued strengthening of the pula and rand against the dollar, we are cautiously optimistic about future prospects.”