Turnstar Holdings Limited, led by Botswana real estate mogul Gulaam Abdoola, announced impressive financial results for the fiscal year ending Jan. 31, 2024. The group reported a 58-percent increase in profit before tax, driven by a rise in rental revenues across all jurisdictions.
Factors contributing to the 58-percent increase in profit before taxTurnstar Holdings' profit before tax increased by 58 percent, mainly due to a 13-percent rise in rental revenues, reaching BWP328.5 million compared to BWP291.3 million the previous year.
This growth was supported by rental income across all jurisdictions. Despite higher operational expenses, the group saw a 15-percent increase in operational profit, amounting to BWP22.8 million 1.71 million.
The restructuring of certain loan facilities also positively impacted the financial results. Additionally, the appreciation of the US Dollar against the Botswana Pula contributed to the increase in the group's finance costs, further enhancing profits.
