By Jones Gadama
Mpico plc has reported a significant increase in profit after tax, from K7.1 billion in 2023 to K12.2 billion in 2024.
Despite facing challenges such as rising inflation, interest rates, and forex shortages, the company has performed well, with rental income increasing to K8.1 billion from K6.9 billion in 2023.
Acting Managing Director of Old Mutual Investment Group (OMIG), Mphatso Kasalika, attributed the growth to rent reviews and assured shareholders that the business is expected to remain resilient.
“We are implementing several mitigation strategies to navigate the economic challenges,” Kasalika said.
The company’s strong performance was highlighted during the Mpico plc stakeholders’ engagement meeting in Blantyre.
Shareholders, including Frank Harawa, engaged with the management team, with Harawa suggesting that the company consider investing in the hospitality industry.
Kasalika’s assurance and the company’s financial performance have boosted confidence among shareholders, who are optimistic about Mpico plc’s future prospects.
