🇧🇼BotswanaSouthern Africa
Turnstar Holdings forecasts 22% profit decline due to weaker property valuations
via Mmegi1 min read
Turnstar Holdings, a BSE-listed property group, has informed shareholders to expect a 22% decrease in full-year profit before tax, projected to be P146.6 million for the year ending January 31, 2026, down from P188.6 million in the previous year. The company attributed this decline primarily to a significant reduction in fair value gains on its investment property portfolio, with fair value adjustments decreasing by approximately P38.7 million. This reduction is a result of higher discount and capitalization rates applied to its Botswana assets, reflecting a more cautious outlook on property income streams amid tightening financial conditions and shifting market dynamics in Botswana's real estate sector. Despite the projected drop in overall profitability, Turnstar's core operations showed resilience, with operating profit declining only marginally by 0.78%, indicating stable rental income and occupancy levels across its portfolio. The company noted that its underlying operational performance remains stable, even as Botswana's property sector faces a challenging macroeconomic environment characterized by tighter liquidity, rising interest rates, and reduced investor interest in real estate assets.
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