A performance report by Blantyre Hotels Limited (BHL) a 33% growth in profit after tax closing the
2019 fiscal year, with a profit after tax of K466 million.
The report, compiled by Alliance Stockbrokers, says that the profit is attributed to cost control measures and
efficient strategies employed under the year in review. On the other hand, the company recorded a slight drop in the cost of sales by 4% closing at MK1.7 billion, while registering a 7% decrease in sales and administrative costs.
The company performed well during the year, despite the closure of Chileka Airport which affected revenue and the political tension persisting in the country which led to a reduction in travel. Nevertheless, the company saw a 51% increase in profit before tax closing at MK696 million.
Blantyre Hotels Limited is a holding company operating in the hospitality and tourism sector in Malawi. The company owns and manages Ryalls Hotel in Blantyre, Malawi. Its operations are managed by Protea Hotels of South Africa under a services contract. Situated in Blantyre the hotel offers travelers well-appointed accommodation in an upmarket location, full conference and banqueting facilities and a fitness center. It was founded in 1921 and listed on the Malawi Stock Exchange in 1997.