Malawi
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NITL registers MK6.99 billion profit

Robert Ngwira
Robert Ngwira

Attended Our Future Private Secondary School in Rumphi from 2006-2009 Holder of Diploma in Journalism from Malawi Institute of Journalism (MIJ) Hobbies, reading newspapers, going out with friends, listening to radio and watching football. Email: info@faceofmalawi.com

By:Mayamiko Phiri.

National investment trust plc (NITL) has registered a MK 6.99 billion after tax profit for the year ending December 31 2022, representing a 49.73 percent growth compared to the previous year’s profit of MK 4.67 billion.

Total investment income tax grew to MK 7.35 billion, a 49.50 percent increase year on.

NITL board chairperson Esther Gondwe disclosed this during the firm’s annual general meeting held in Blantyre on Thursday, July 20.

According to Gondwe the growth was driven by significant share revaluation gains of MK 6.58 billion and increased dividend income due to higher dividends declared by investee companies.

“Looking ahead,we are optimistic about our prospects for continued growth and success”. Chirwa said.

Following the impressive performance the company declared an interim dividend of MK 108.00 billion ( 2021:MK 81.00 million) representing MK 0.80 per share.

A final dividend of MK 317.25 million representing MK 2.35 per share will be given to share holders in respect of the 2022 profits.

This will bring the total dividends from the 2022 profits to MK 425.25 million representing MK 3.25 per share.

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