Illovo Sugar annual Profit hit K56.7 billion

Illovo Sugar Malawi plc has made a profit of K56.7 billion in its 2023 financial year.

The profit has increased by K30.1 billion compared to a profit of K26.6 billion in its 2022 financial year.

According to the financial report from Illovo, the profit has been made due to the sale of more Sugar in the country, controlling of cost and also hardworking spirit amongst staff.

As a result of this profit, Illovo executive have agreed that those who own shares in the company through the Malawi Stock Exchange will receive part of this profit (dividend) at the price of K29.20 per share in 2023 from K21.