Pamodzi Hotel turnover dropsBy BUUMBA CHIMBULUPAMODZI Hotel Plc’s total turnover has declined to K15.3 million as at March 2021 compared to K83.6 million recorded the previous year due to impact of the Covid-19 pandemic.The hotel remains optimistic post the epidemic and slow recovery of the industry was expected worldwide.This is according to the abridged financial results for the year ended March 31, 2021 posted on the Lusaka Securities Exchange (LuSE).It indicated that the Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) for the year was negative K29.3 million compared to previous year of K2.2 million.“Overall this contributed to a loss after tax for the year K3.6 million as compared to a loss of K4.4 million in the previous year.“The Current year period is not comparable to the previous year due to the covid-19 pandemic; the hotel was closed for six months period and no revenue earned for that period,” the statement indicated.It stated that the […]
PAMODZI HOTEL TURNOVER DROPS
