Malawi Stock Exchange-listed Icon Properties on Friday engaged its stakeholders where, among other things, it announced to have made a profit after tax of K24.4 billion in the year ended December 31 2024.
The profit is 27 percent higher than the K19.2 billion released a year before.
At the meeting, Icon Properties Chief Executive Officer Washington Chimuzu reported to the stakeholders that the firm’s total assets grew by 19 percent from K122.6 billion in 2023 to K145.4 billion last year.
Total revenue in the year under review grew by 54 percent from K20.9 billion in 2023 to K32.1 billion.
- Advertisement -
In an interview on the side-lines, Chimuzu said the real estate investment entity has since set out a strategic growth plan to drive long-term value creation, resilience and environmental stewardship.
- Advertisement -
“We are seeking to expand our footprints to increase its base and its presence in other sectors, as well as geographic areas. We are looking at other areas across the country that have national representation or national footprint.
“We are looking at increasing the number of properties or assets into industrial, commercial, retail and other needs as we have and we will be identifying,” he said.
One of the shareholders, Mavuto Kapyepye, hailed the firm for what he rated as outstanding performance in the year under review.
He commended the firm for engaging the stakeholders on its strategic aspirations which, he said speaks to national growth plans.
- Advertisement -
“The plans shared are of great value and bring excitement. We are generally happy with the performance.
“I was curious to know the company’s plans and how they align with the national vision, especially Malawi 2063. And I am particularly happy that there are some activities that are going on,” Kapyepye said.
