Umodzi Holdings Limited posts K413m profit as of March 2022

Umodzi Holdings Limited (UHL) has disclosed that it has, for the first time, posted a profit of K413 million for the year ending 31st March 2022.

UHL Board Chairperson, John Kamanga, disclosed in Lilongwe on Tuesday during a Business Branch to show appreciation to customers for the support rendered during and after Covid-19 pandemic.

Kamanga said despite a difficult operating environment of Covid-19, the company has managed to post the profit.

“Improvement in service delivery to the client’s combined with cost containment by putting proper procedures to the company that actually resulted in registering the profit,” he said.

Umodzi Holdings Limited (UHL) Boards Chairperson, John Kamanga

Kamanga further said since its inception in 2013, the company has been making losses but when they came in as UHL from Peermont Holdings in September 2020, they looked into the operational issues like cost control, procurement processes, financial management, human resource management and efficiency.

In the next few months, he said, the company will be undertaking initiatives aiming at enhancing customer experience and to better product and service.

Kamanga, however, said the future of the company looks promising as they will tap in from austerity measures announced by the government to do their meetings within the vicinity.

The company has benefited and will do so as most Ministries, Departments and Agencies (MDAs) are currently doing their meetings using their facilities, he said.

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