WCCR post a good performance
Windhoek Country Club Resort and Casino (WCCR) has reported an increase in revenue by 11.2% in the current financial year.
The revenue increase is mainly attributed to an increase of 4.6% in hotel turnover and a growth of 15.4% in casino revenues.
Furthermore, its gross margin strength from the previous financial year has increased from N$57m to N$60m this year, which is a 6% increase. However, its operating profit has gone down from N$13.6m to N$12.6m, mainly due to increased property costs.
Their net profit for the period under review has improved from N$ 8.8m to N$9.2m.
WCCR chairman of Boards of Directors, Sven Thieme, says despite the ongoing global crises that still affect the tourism industry, "it is more laudable that we can look back at strong results. We are further faced with increased competition in the market. We welcome competition and it has spurned us on to greater heights.”
The other challenge over the past year has been the fact that the hotel has had to slow down its upgrading process due to full bookings, which have not stopped all year. The hotel's management has decided to do so, not to disrupt the clients’ peaceful stay.
Thieme adds some of their achievements this year have included their year-on-year improvement in operating profit and the outstanding performance of the casino, not to mention the repayment of the GIPF to the tune of N$40m.
The UNCCD COP11 conference in September was also a wonderful experience and a boost to the hotel's financial coffers, Thieme beamed.