Hotel group Cresta Marakanelo has warned shareholders that it expects to swing to a significant loss for the six months ended 30 June 2025, citing the impact of Botswana’s economic slowdown.
In a trading statement released on Tuesday, the company projected a decline of between 1,201% and 1,211% compared to the P1 million profit before tax recorded in the same period last year. This translates to a reduction in profitability of between P12.1 million and P12.2 million.
Cresta said the downturn is primarily due to weaker trading conditions, but noted that it has taken steps to cut costs, including reductions in staff expenses, and has made progress in diversifying its market segments to strengthen resilience.
The unaudited interim financial statements for the half-year period will be published by 30 September 2025, the company said.