ECONOMIC OUTLOOK INDUSTRY ISSUES FINANCIAL PERFORMANCE

Inflation for the first time in many years breached the 12% mark rising above the Bank of Botswana upper limit of the target range. This was due to increases in VAT, and fuel prices. It is expected that inflation will continue to be high for the remainder of the year.

Crude oil prices steadily rose during the period under review resulting in significant inventory revaluation gains accruing during the period. Gains accruing during the period, however created a negative impact on working capital.

Net Profit Before Tax increased by 110% during the period under review compared