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Nico eyes profit jump

Conglomerate Nico Holdings Limited has expressed optimism to close its half-year books on a positive note. The company is forecasting a jump in its earnings for the year compared to what was realised last year.

The firm expects the positive trajectory to extend to the end of the year owing to improvements in key macroeconomic indicators.

Nico Holdings Limited Group Managing Director Vizenge Kumwenda made the sentiments on the sidelines of an awards presentation ceremony the company hosted for its top performing staff.

Kumwenda said most indicators are pointing to improved economic outcomes which may spur business growth

“We have started the year on a good note despite that the business environment is still tough. We are hoping for a better half than last year,” Kumwenda said.

According to Kumwenda, the business environment is yet to stabilise, but there is still hope that the situation may improve further.

He pointed to such key macroeconomic fundamentals as inflation and interest rates, which have been improving in the first four months of this financial year.

This he said would help most of its businesses improve performance.

At the event, the group awarded 12 staff members drawn from all Nico Holdings subsidiaries.

According to Kumwenda, the wards were meant to motivate staff to improve customer care and innovation.

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