Sunbird Tourism makes K400m profit

Sunbird Tourism says it has recorded a K400 million profit in the first half of the year, up from a K475 million loss last year.

The Malawi Stock Exchange listed conglomerate says in a statement that its revenue grew by 57 percent to K10 billion which mainly came from the corporate segment at 82 percent.

For the past two years, the group has been struggling financially due to Covid-19 related travel restrictions.

Meanwhile, investment analyst Kondwani Makwakwa believes the easing of Covid-19 restrictions creates a space for the hospitality sector to recover.