Africa-Press – Namibia. The Namibia Wildlife Resorts (NWR) has recorded a profit of N$68.3 million.
This marks a 50% increase when compared to the N$46 million the entity reported in 2023, NWR’s interim managing director Brian Masule announced on Friday.
Although challenges remain, Masule said the company is well on course and continues to play a leading role in a highly competitive and variable industry.
“The improvement in profitability is based on the increase in revenue in line with improved trends in the tourism industry and the management of total expenses. This also marks the third consecutive year for NWR to receive an unqualified audit opinion from the external auditors.
“The period under review marked an important phase of renewal and stabilisation for NWR as the tourism sector continued its strong recovery and visitor confidence returned to Namibia’s destinations,” said Masule.
The performance resulted in a stronger balance sheet, which showed an increase of 13% in total assets and shareholder’s equity, and correspondingly low debt ratio of 23%.
Stronger cash reserves of N$256 million at year end further reinforced operational stability and created scope for reinvestment in infrastructure upgrades and service improvements.
This signals the NWR’s recovering financial strength and operational balance.
“The board of directors resolved that it would be prudent for NWR not to distribute any profit and dividends, but to retain the profit in order to build cash reserves, reduce the accumulated loss and maintain adequate debt headroom, which will serve as a key source of funding to cover the repairs and maintenance of our lodging facilities and related infrastructure,” he shared.
Looking ahead, Masule said the NWR’s focus will remain on strengthening service quality, modernising key facilities and deepening a culture of performance and accountability. “We will continue to progressively attend to complaints raised by our customers and ensure issues raised are addressed timeously and satisfactorily. We will invest in our people, our systems and our resorts to ensure a consistent and rewarding experience for every guest. The company is on a defined path of renewal and growth, built on a shared commitment of its employees, management and the board,” he said.
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