MOBILE services provider, Telecom Networks Malawi, TNM, has hinted that it expects a rise in its profit after tax by 40 % in its half year ending.
The Malawian company has released a press statement in which it indicates that the disclosure is a fulfillment of the Malawi Stock Exchange, MSE, requirements.
The statement which has been signed by the company’s secretary, Christina Mwansa, stresses that a full financial statement will be published by September 2018 after a review and approval by its board of directors.
“The information on which this trading statement is based has not yet been reviewed or reported on by auditors of Telekom Networks Malawi,” reads part of the statement.
TNM has further clarified that it is an MSE requirement for a listed company to publish such trading statement.
This is done whenever there is a reasonable degree of certainty that the financial statements for the period to be reported upon next will differ by at least 20 percent from the previous corresponding year.
The financial report focuses on January to June 2018.
The increase means that its shareholders are likely going to benefit from the increased dividends.