Dear Shareholders,
It gives me immense pleasure to place before you the 17th Annual Report of
Pecos Hotels and Pubs Limited for the financial year 2021-22. This past year is perhaps
best summed up in the two words 'Cautiously Optimistic’.
The previous financial year (2020-2021) was tough, however, when the unlocking process
began, we were encouraged by the response from our customers. It was heartening for us to
see that in some of our units we were able to return our business to almost pre-COVID
levels. This unfortunately was short lived. Once again the world was consumed by a
ferocious second wave and our industry was forced to lockdown operations. Even on
reopening our outlets had to contend with shorter hours of operation and restrictions on
seating capacity. This time though, the availability of the vaccine and the possibility of
booster doses has gone a long way in improving customer sentiment. We are happy to report
a steady increase in business at the outlet level and we hope this positive trend
continues.
Your company continues to remain cautiously optimistic; although the WHO and other
countries have begun to accept that COVID will continue to be part of our lives and are
not in favour of lockdowns, COVID still continues to remain a concern in the short term.
Your company intends to use this time to consolidate our operations and rebuild.
I trust that all our shareholders are now double vaccinated and hopefully received the
booster dose of the vaccine.
At this juncture I would like to place on record my sincere appreciation to all our
loyal customers, staff and vendors, who have stood by your company even during our most
difficult times.
| Yours Sincerely |
| SD/- |
| Liam Norman Timms Whole Time Director |
| (DIN:06453032) |