Firms project higher profits

Most companies registered on the Malawi Stoc k Exchange (MSE) are expecting to grow their profits for the period ended December 2017, largely riding on the back of improvements in key microeconomic indicators.
Some of the listed companies have forecast a jump in profits beyond 100 percent.
In its trading statement for the reporting period ending December 31 2017, Nico Holdings PLC has forecast profits to be 180 percent higher than the previous year ended December 31 2016.
National Investment Trust PLC and Mpico PLC are expecting a profit jump of more than 100 percent.
And TNM PLC has forecast growth in profits of over 60 percent.
In compliance with the Listing Rule number 7(a) of the MSE, a listed company is required to publish a trading statement as soon as there is reasonable degree of certainty that the financial results for the period to be reported upon will differ by at least 20 percent from the previous corresponding period.
The statements are, however, based on information that is yet to be reviewed or reported on by external auditors.