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Inqo Investments Ltd on Friday posted an improvement in annual profit, and noted the growth of operations in Uganda. The Cape Town-based investment firm owns luxury hospitality businesses, its main asset being Kuzuko Lodge in South Africa’s Eastern Cape. It touts itself as a socially and environmentally responsible company. In the year ended February 28, Inqo’s revenue grew 31% to R 33.8 million, or £1.6 million, from R 25.9 million. Pretax profit surged by 87% to R 26.3 million from R 19.4 million, with attributable profit advancing to R 27.9 million from R 20.0 million. Diluted earnings per share ticked up to R 1.71 from R 1.24. Cost of sales rose to R 3.5 million from R 2.8 million. At Kuzuko Lodge, net profit nearly doubled to R 5.3 million from R 2.7 million, fuelled by ‘an upward trajectory in occupancy rates’. ‘These results reflect the long-term impact of our targeted marketing efforts, disciplined cost-containment measures, and sustained international guest demand,’ Inqo noted. The company also said that its conservation and rural enterprise, or CARE, framework in Uganda had made progress. CARE’s untutilised grant funding liability decreased by 51% to R 14.3 million from R 29.5 million a year earlier. ‘Shareholders should note that as the CARE grant is progressively utilised, the associated grant income recognised will naturally reduce, and profitability is expected to normalise over time unless replaced by other sources of funding or new income generated from the CARE projects,’ Inqo said. CARE includes an organic waste recycling venture and Pabidi Lodge Budongo, located in Uganda’s Murchison Falls National Park, which opened in April through a partnership with Great Lakes Safari. Inqo ended February with a cash balance of R 38.4 million, versus R 48.8 million a year prior, and total assets worth R 251.2 million, up from R 238.2 million on-year. The company reported no bad debt as of February 28, compared with R 7,189 a year earlier. It claims to be ‘driving employment through infrastructure development and supporting our outgrower farmer model’ in the Sub-Saharan African countries in which it operates. The Eastern Cape, where Inqo’s main asset is situated, is one of South Africa’s poorest regions, with about 90% of children in the province’s public schools relying on school meal programmes for food, according to South African government data. Inqo shares were last quoted at 67.50 pence each on Friday afternoon on London’s Aquis Exchange. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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