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Wilderness sees decline in diluted HEPS
Wilderness Holdings‚ the listed African safari and adventure holiday group‚ recorded a drop in diluted headline earnings per share from 10.92 thebe to 3.76 thebe for the year ended February.
Wilderness said the drop in diluted headline earnings was due to "challenging" conditions in the company's key source markets‚ particularly Europe.
"The continued decline in the Namibian market is a function of uncertainty in Europe and the over-valued Namibian dollar‚" Wilderness said.
Revenue of 1‚066m pula for the year to February 2012‚ a rise of 12% on the previous year.
The company declared a final dividend of 8.6 thebe per share.
Earnings before Interest‚ depreciation and amortization (Ebitda) was at P78m‚ unchanged from the previous year.
"The board believes that this outcome is most satisfactory given the pressures on the industry and the fact that the group has used this difficult period to build capacity and our brands‚" it said.
Bednight sales improved by 5% to nearly 190‚000.
"Performance in Botswana‚ where the group operates 23 camps‚ continues to improve with a 12% increase in bednight sales. This increase was to a degree offset by a 15% decline in bednight sales in Namibia‚ where we operate 16 camps‚" Wilderness said.
The Wilderness Holdings Group owns and operates a network of 65 safari camps and lodges in seven southern Africa.
Source: I-Net Bridge
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