TNM anticipates 60 percent profit increase  

Telekom Networks Malawi Limited (TNM) shareholders should all be smiling as the mobile phone network and ICT service provider has projected to register profit increase of about 60 percent.

Valentine: TNM’s  acting CEO

TNM has revealed about the prospects in a trading statement notice for the last half of the year 2017, signed by the Company Secretary, Christina Mwansa.

Mwansa however stressed that the expected 60 percent profit after tax growth financial statement, have not yet been audited.

A consolidated financial statement for the firm is expected to be made public by March next year following the board’s approval.

The statement, which is in fulfillment of Malawi Stock Exchange listing requirements, comes after the company also posted an impressive profit in the first half of the year.

In a year ending June 2017, TNM registered a half year profit of K4.7 Billion which was over twice their annual returns for 2016 which was about K8.2 Billion.

Follow and Subscribe Nyasa TV :

Sharing is caring!

Follow us in Twitter
oldest most voted
Inline Feedbacks
View all comments
zinenani zoona
zinenani zoona
4 years ago

These companies are really reaping us. As mush as a business needs profits to survive and expand, profits of this magnitude (by %) show that the government is not interested in our welfare. It means that these companies and banks are reaping us over and over again. It’s also time to hire a Malawian as CEO of this Malawian company.

Blessings Mgolomba Kamanga
Reply to  zinenani zoona

This is so true. These companies don’t have our welfare in mind. Need I remind you that Malawi has one of the highest data rates in the world. This is outrageous. I would have expected a proportion of their profits should be used to reduce and even improve the pricing of their services. And a boohoo to their services, the data packages are slow intermittent and cumbersome. Their call qualities dont fully cover Malawi. The profits might seeem impressive, but they have a long way to go.

4 years ago
Reply to  zinenani zoona

Please take note that TNM needs to invest billions each year to improve the network and these funds can only come from profits

Read previous post:
Malawi, Mozambique to form committees to curb border crimes

Governments of Malawi and Mozambique have agreed to establish committees in the border areas of Mangochi and along the Ruo...