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FDH to close 2019 on high

CHIWALO—We are growing—Picture by Chimwemwe Mangazi

First Discount House, a subsidiary of FDH Holdings Limited, said it is poised to maintain constant increase in profits this year.

This came out during a customer engagement cocktail the firm hosted in Blantyre on Thursday.

In his speech, First Discount House Managing Director, Mike Chiwalo, said in June this year, the company registered a K1.5 billion profit compared to a K158 million profit last year.

This represents an 849 percent increase.

Chiwalo said as at December 2018, the company had made K1.1 billion.

“We continue to grow as First Discount House, both in asset size and profitability,” he said.

One of the clients, Polyanna Pinto, thanked the firm for its services over the years.

He urged the firm to be cautious of competition on the market.

“I have been a client since it opened in 2002 and they have been offering excellent services.

“However, the market is diverse now and there are other players that are offering attractive services, so they need to be on top of business to maintain their clientele, otherwise they may lose customers,” Pinto said.

FDH Discount House offers financial services and advice to various clients including investors.

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