Durban - Wilderness Holdings was expecting a decline in earnings for the year to end February as a result of unrealised losses resulting from translation of the company’s foreign currency position, it said on Tuesday in a trading update.
Wilderness is operating some 45 safari camps and lodges, and 10 scheduled overland safaris in Botswana, Congo [Brazzaville], Kenya, Namibia, Seychelles, South Africa, Zambia and Zimbabwe.
“The directors of Wilderness Holdings hereby announce that the company’s results for the year to end February are likely to be more than 10 percent lower than those achieved in the corresponding period in the prior year,” the group said.
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Full information about the results would be provided during the results presentation, which is expected to take place at the end of May. The group also warned shareholders to exercise caution when dealing in the company’s securities until the results are announced. The company has a primary listing on the Botswana Stock Exchange and a secondary listing on the JSE.