{"id":77808,"date":"2019-05-10T10:27:56","date_gmt":"2019-05-10T08:27:56","guid":{"rendered":"http:\/\/www.times.mw\/?p=77808"},"modified":"2019-05-10T10:27:56","modified_gmt":"2019-05-10T08:27:56","slug":"blantyre-hotels-limited-profit-down-31","status":"publish","type":"post","link":"https:\/\/archive.times.mw\/index.php\/2019\/05\/10\/blantyre-hotels-limited-profit-down-31\/","title":{"rendered":"Blantyre Hotels Limited profit down 31%"},"content":{"rendered":"<p><strong><em>By Sharon Chirwa: <\/em><\/strong><\/p>\n<p><a href=\"http:\/\/www.times.mw\/wp-content\/uploads\/2017\/05\/vizenge-kumwenda.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-medium wp-image-46493\" src=\"http:\/\/www.times.mw\/wp-content\/uploads\/2017\/05\/vizenge-kumwenda-300x215.jpg\" alt=\"\" width=\"300\" height=\"215\" srcset=\"https:\/\/archive.times.mw\/wp-content\/uploads\/2017\/05\/vizenge-kumwenda-300x215.jpg 300w, https:\/\/archive.times.mw\/wp-content\/uploads\/2017\/05\/vizenge-kumwenda-475x342.jpg 475w, https:\/\/archive.times.mw\/wp-content\/uploads\/2017\/05\/vizenge-kumwenda.jpg 509w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>Profit for Malawi Stock Exchange-listed Blantyre Hotels Limited (BHL) went down by 31 percent to K352 million in the year ending September 30 2018.<\/p>\n<p>The company registered a K507 million profit in the previous year.<\/p>\n<p>The drop in profitability was due to reduced revenue and increased costs.<\/p>\n<p>BHL Chairperson, Vizenge Kumwenda, told delegates to the company\u2019s annual general meeting, yesterday, that trading conditions in the hospitality industry were tough.<\/p>\n<blockquote><p><em>\u201cThe performance for the year ending 30 September 2018 was lower than the previous year,\u201d<\/em> Kumwenda said.<\/p><\/blockquote>\n<p>Total revenue for the company also went down by 1.7 percent, from K4.1 billion in 2017 to K4 billion in the year in review.<\/p>\n<p>This was primarily due to lower occupancy in the year due to slow down in corporate travel.<\/p>\n<p>Direct expenses increase from K1.71 million to K1.81 million, representing an increase of 6 percent.<\/p>\n<p>Kumwenda said the increase was in line with inflation, which averaged 9 percent.<\/p>\n<p>Going forward, Kumwenda said the business would remain resilient.<\/p>\n<blockquote><p><em>\u201cWe will intensify international and local leisure market campaigns. We will intensify international and local brand campaigns in addition to strengthening our Marriott loyalty programme in the market,\u201d<\/em> he said.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>By Sharon Chirwa: Profit for Malawi Stock Exchange-listed Blantyre Hotels Limited (BHL) went down by 31 percent to K352 million in the year ending September 30 2018. The company registered a K507 million profit in the previous year. The drop in profitability was due to reduced revenue and increased costs. BHL Chairperson, Vizenge Kumwenda, told [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-77808","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/77808","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/comments?post=77808"}],"version-history":[{"count":1,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/77808\/revisions"}],"predecessor-version":[{"id":77813,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/77808\/revisions\/77813"}],"wp:attachment":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/media?parent=77808"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/categories?post=77808"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/tags?post=77808"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}