Rikus Grobler | Feb 8, 2018 | 0
Bumper year for Windhoek Country Club
Windhoek Country Club Resort and Casino (WCCR) last week announced its annual financial results for the year ended 30 April 2014. Sven Thieme, Chairman on the Board of Directors said that 2013/14 had been the best year ever, not only in terms of financial results, but also with regard to room occupancy and conference/ event bookings. Thieme elaborated on the finances: “When looking at the financials we are proud to report that revenue rose by 32.8%. This can mainly be attributed to an increase of 39.3% in hotel turnover and a growth of 29.3% in casino revenues. Gross margin strength increased from N$60 million to N$89 million. This is a 47.7% increase. Operating profit was up from N$12.6 million to N$28.8 million and this can be mainly attributed to well managed expense control. Net profit for the period under review improved from N$9.2 million to N$28.4 million. Income tax also increased as a result of the deferred tax asset provision. Income tax increased from N$4.5 million to N$10.5 million. Total operations for the period under review resulted in an increase of total comprehensive income from N$4.6 million to N$ 17.9 million.”
Milestones and highlights of the past year included the fact that the WCCR had met their dream target of N$50 million gross operating profit set by the Board over and above the budget. Thieme advised that the aim for the N$50 million had been on the cards as part of the last strategic plan and had been achieved within the envisaged timeline. He congratulated the whole team on a variety of challenges they had faced head-on during the 2013/14 year, such as COP 11, the hosting of the National Planning Commission as well as being part of the successful eight edition of the Southern African Regional Police Chiefs Co-operation Organisation (SARPCCO) in which around 1800 athletes and officials from 14 countries within the Southern African Development Community took part. He said that once again the WCCR could not finalise renovations due to the fact that the hotel was almost fully booked all the time and comfort of guests remained priority. Thieme added, “We have also embarked on a number of energy-saving initiatives, something which we are extremely proud of. Thus far LED lighting has been installed as well as heat pumps which regulate the room temperatures. We are furthermore committed to recycling and the separation of glass, tins, paper and plastic has become extremely important here. Much more is to come in future with regard to energy saving and our commitment to this country and its environment.” He said the new strategic plan had been proposed and presented to the Board that morning for approval. “One main focus area will always remain service and the guest experience and we pledge to keep focusing on these and enhancing them at all times,” he added.