Telekom Networks Malawi–TNM has forecasted a profit after tax of 200% higher than it made last year.
This means that the Malawi Stock Exchange (MSE) listed mobile phone company, will post a profit of at least MWK 2 billion compared to last year’s MWK 700 million.
TNM’s profit projection has come at a time when National Bank (MSE:NB) and Standard Bank have also said their profits will grow by 30% and 38% respectively.
Commenting on TNM’s performance, Mabvuto Bamusi an economist said this is not surprising considering their favorable operating environment.
However, Bamusi has argued that this profit margin is immoral comparing to lower quality of service delivery that the country is experiencing in the mobile telecommunications sector.
TNM is the only telecommunications company listed on the Malawi Stock Exchange (MSE) thereby making it the only open operator as per the listing rules; it is required by law to publish its operating and economic performance.
The company was established in 1995 as a joint venture between Telekom Malaysia and Malawi Telecommunications Limited (MTL). The company is now wholly Malawian owned.
Telekom Networks Malawi (MSE:TNM) FORECASTS 200% GROWTH IN PROFIT
