On 10th June, 2022, Pamodzi Hotels PLC announced the audited financial results for the year ended March 2022.
The total turnover for the year is ZMW 54.43 million compared to previous year turnover of ZMW 15.38 million.
EBITDA for the year is ZMW (3.03) million compared to previous year of ZMW (29.31) million. Overall this
contributed to a Loss after tax for the year ZMW (19.46) million as compared to a loss of ZMW (36.69) million in
the previous year.
The room segment income increased due to higher number of delegations, transient income and corporate
income at the hotel. In addition, food & beverage income increased due to higher banquet revenue and
restaurant income for the year.
The future outlook remains optimistic post the epidemic and a slow recovery of the industry is expected
worldwide. Management has and will however be doing everything in their abilities to minimize expenses and
increase revenues in the long run so as to bring the company to profitability. Having cut expenses in the year,
going forward management, will continue to control expenses, to reach the most efficient operation, and
minimize losses in the foreseeable future. We aim to drive growth through our operations. Pamodzi has
embarked on a strategy to maintain and enhance operational efficiency while remaining focused on delivering
a high-quality service that is unrivalled on the Zambian market. We remain committed to ensuring that we
provide a safe operating environment during this Covid-19 pandemic to serve the needs of our customers.