Conglomerate Press Corporation (PCL) plc says it expects the 2024 profit to range from K115 billion to K122 billion as the Malawi Stock Exchange (MSE)-listed firm targets significant diversification towards energy.
In a trading statement signed by company secretary Maureen Mbeye, PCL advises the public that the consolidated profit after-tax for the year ended December 2024 is expected to rise from the previous year’s K75.05 billion.
This means the group will be the second most profitable listed firm after Nico Holdings plc, another financial services group, which also indicated that its profit after-tax is expected to be between K122 billion and K131 billion from K59 billion in 2023, which is about 122 percent increase.
PCL’s profit increase will mainly be driven by its subsidiary National Bank of Malawi plc, which expects its profit to rise to K98 billion from K78 billion in 2023.
