NWR records profit of N$22m
NWR recorded its first profit last year, but because of the devastating impacts of the coronavirus there will be no repeat of this performance in 2020.
28 July 2020 | Tourism
Namibia Wildlife Resorts (NWR) has recorded a profit for the first time since the company was created more than 20 years ago.
This past financial year the company recorded a profit of N$22 million, which was a N$41 million improvement on the 2017/18 financial year.
NWR held its annual general meeting last week to review the past year's operations and present its 2018/19 financial results.
At the meeting, the shareholder - the Namibian government - was represented by public enterprises minister Leon Jooste and tourism minister Pohamba Shifeta.
NWR board chairman Leonard Iipumbu said NWR managed to record a profit for the first time since its creation in 1999.
“We achieved this by increasing our revenue by 11% compared to the 2018 financial year and by keeping our operating expenses flat, despite inflationary pressures.”
Spanner in the works
However, Iipumbu added that at the time of writing the 2018/19 annual report, Covid-19 had been declared a pandemic by the World Health Organisation (WHO).
“The impact of the coronavirus on the tourism industry is severe and devastating.
“With international travel restrictions effectively halting all progress in the tourism industry we will not be able to repeat the success of 2019.”
He added that the company has implemented measures to mitigate the effects of the coronavirus to ensure its sustainability.
One of these measures is promotional packages to boost domestic tourism.
Better customer service
Newly appointed NWR managing director Matthias Ngwangwama said despite the change in leadership, the company continued to operate as normal.
“For instance, a profit scenario was recorded for the first time in our history, which, in my view, summarises the progress we made in terms of governance of the company”.
He went on to say that there were also improvements in the adherence to standard operating procedures.
“Customer service levels also improved, and positive feedback was received from our customers. The negative media reports that characterised us in the past also significantly improved.
“We will continue to build on the successes and improvements recorded in 2019 to improve even more in the 2020 financial year, albeit in the disruptive and challenging times of the coronavirus.”