Illovo Sugar Malawi share prices rise again

Illovo Sugar Malawi continues to enjoy the limelight at the Malawi Stock Exchange (MSE) with demand for its shares increasing and pushing up its share price by 8.3%.

Last week Illovo shares added K10 each to increase to K130.

This is the second consecutive week for Illovo’s shares to gain at a time when demand for its shares is still outstanding due to its performance.

The sugar producer has recorded a massive operating profit of K5.7 billion in six months.

Sugar business doing well

The share price gain ahs pushed up the indicative Malawi All Share Index (Masi) by 169.78 points to record at 5378.87 points.

MSE authorities say Illovo last week had 16,457 shares changing hands had more transactions on Monday.

The market opened this week with a total of 128,877 shares from Illovo, Mpico and Standard Bank trading.

The transaction on Monday generated K13. 9 million in market turnover and Illovo was the top trader accounting for 97% of the turnover.

However market indices have remained flat as there was no further share price increases on the day.

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