• Latest
  • Trending
  • All
  • News
  • Business
  • Lifestyle
BDC’s profit jumps 39%

BDC’s profit jumps 39%

December 21, 2018
What business has President Masisi got in Namibia?

What business has President Masisi got in Namibia?

February 25, 2021
Italian Ambassador killing shocks SADC

Italian Ambassador killing shocks SADC

February 25, 2021
Crunch time for Amrouche

Crunch time for Amrouche

February 24, 2021
Letshego’s Strategy Update

Letshego’s Strategy Update

February 24, 2021
How Botswana’s economy can recover from Covid-19

How Botswana’s economy can recover from Covid-19

February 24, 2021
STABLE FLY INFESTATION IN NGAMI

STABLE FLY INFESTATION IN NGAMI

February 24, 2021
Alcohol ban divides Cabinet

Alcohol ban divides Cabinet

February 24, 2021
BCL revival brings hope

BCL revival brings hope

February 24, 2021

INVITATION TO TENDER:

February 24, 2021
Nkoloi, Seakgosing recalled

Nkoloi, Seakgosing recalled

February 24, 2021
TRIUMPHANT AMIDST THE CORONAVIRUS

TRIUMPHANT AMIDST THE CORONAVIRUS

February 24, 2021
The DIS f$%&@d up my life

The DIS f$%&@d up my life

February 24, 2021
  • About Us
  • Advertise
  • Disclaimer
  • Contact Us
Friday, February 26, 2021
27 °c
Gaborone
21 ° Fri
20 ° Sat
20 ° Sun
20 ° Mon
  • Login
  • Register
The Patriot On Sunday
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
No Result
View All Result

No products in the cart.

  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
No Result
View All Result
The Patriot On Sunday
No Result
View All Result

BDC’s profit jumps 39%

December 21, 2018
in Business
243 10
0
BDC’s profit jumps 39%
492
SHARES
1.4k
VIEWS
ShareShareShare

With Group Profit Before Tax reaching P187m from P135m

Botswana Development Corporation’s (BDC) five-year strategy continues to bear fruit. 

Managing Director, Bashi Gaetsaloe, presented to stakeholders the Corporation’s financial results for the year ended 30 June 2018 on December 13, 2018 at Cresta Lodge. 

“2018 continued to be a challenging year economically both in domestic and global markets – and our financial results partly reflect the impacts of such a toughened trading environment. In the midst of these external factors, we have continued to make progress. We are now in the fourth year of our 5-year strategy and we remain committed to our ambition to double the business in this strategic period. For the year under review we have successfully driven growth across the business including significantly raising our profitability year-on-year at both Group and Company levels,” said Gaetsaloe.  

Highlights

Key highlights for the year under review show that • Group Profit Before Tax increased by 39% to P187 million in 2018 from P135 million • Group asset base grew to P4.1 billion in 2018, up 5% from P3.9 billion in 2017 • Group income closed the year at P444 million against last year P403 million, a 10% Y-o-Y growth • Company Profit Before Tax increased by 18% to P244 million in 2018 from P206 million reported in 2017.

The corporation realised growth in interest income of 20% to P42million against P35million reported prior year.

This was a reflection of the expected growth in debt assets, a milestone achieved in correlation with BDC’s business strategy to rebalance the equity/debt asset profile. BDC successfully drove an increase in investment asset values at Group level with financial results for the year under review reporting an accumulative 5% YOY growth of Group assets to P4.1 billion.   

The corporation was also pleased to announce that the Moody’s Investors Service has reaffirmed its Baa2/Prime2 rating (with a stable outlook). The rating agency recognised the Corporation’s “strong liquidity and capital buffers, and assumption of a high probability of government support.”

BDC’s issuer ratings entail a standalone credit profile of b1, which balances what Moody’s recognises as a strong company solvency and liquidity position against a high concentration of strategic participation in large equity investments. 

“Our underlying business remains strong and our results come off the back of our success in driving new business growth as we continue to scope for local and continental partnership opportunities in our targeted sectors. Such interests are mainly in industries that can deliver significant contribution towards Gross Domestic Product (GDP) and the wider socio-economy. The Corporation has continued to stabilise post our Transformation Programme which entailed a robust turnaround review of our processes, structures and policies. Our post transformation journey is not yet complete, though our results positively report on the continued strengthening of the business and we are confident that the Corporation will continue on this resilient trajectory,” said Gaetsaloe.   

Facebook Comments
Tags: BDC
Share197Tweet123Share34

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe

Related Posts

Letshego’s Strategy Update

Letshego’s Strategy Update

February 24, 2021
0

As a result of the on-going COVID-19 pandemic, 2020 has been an historic year for private and public sector businesses...

The Bulb World enters SA market

The Bulb World enters SA market

February 18, 2021
0

The buoyant Chief Executive Officer of The Bulb World, Ketshaphaone Jacob talks with passion about youth empowerment – declaring ‘our...

PPPs crucial for diversification

PPPs crucial for diversification

February 8, 2021
0

2021/22 budget depicts a battered economyCalls for resilient economy to absorb shocksMinister Matsheka fears for worst in future BAKANG TIRO...

New dawn beckons for BPC

New dawn beckons for BPC

February 8, 2021
0

New CEO Kgoboko takes full chargeUnleashes his roadmap, key prioritiesBPC Board hopeful for a turnaroundMASA 2020 project to end March...

  • Trending
  • Comments
  • Latest
Alcohol ban divides Cabinet

Alcohol ban divides Cabinet

February 24, 2021
The DIS f$%&@d up my life

The DIS f$%&@d up my life

February 24, 2021
BCL revival brings hope

BCL revival brings hope

February 24, 2021
What business has President Masisi got in Namibia?

What business has President Masisi got in Namibia?

0
2019 battle of the Manifestos

2019 battle of the Manifestos

0
BOFEPUSU on 10% salary hike

BOFEPUSU on 10% salary hike

0
What business has President Masisi got in Namibia?

What business has President Masisi got in Namibia?

February 25, 2021
Italian Ambassador killing shocks SADC

Italian Ambassador killing shocks SADC

February 25, 2021
Crunch time for Amrouche

Crunch time for Amrouche

February 24, 2021
The Patriot On sunday

© 2021 The Patriot on sunday- Inspired by Search Mart.

Navigate Site

  • About Us
  • Advertise
  • Disclaimer
  • Contact Us

Follow Us

No Result
View All Result
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders

© 2021 The Patriot on sunday- Inspired by Search Mart.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?