National Investments Company Achieves 51% Operating Profit Increase in HY2023 Report
- What contributed to the 51% increase in NICOL's operating profit in the HY2023 report?
- The 51% increase in NICOL's operating profit was largely due to the strengthening of diversified income and a TZS 1.2 billion writeback provision from impaired assets in the prior year.
Summary of the National Investments Company Limited HY2023 Interim Report
- The Group’s investment income spiked by 26%, from TZS 6.93 billion to TZS 8.72 billion, a variant credited to an increase in dividend and interest income from investments.
- Operating profit leaped by 51%, from TZS 6.00 billion to TZS 9.05 billion. The increment is attributed to the strengthening of diversified income and a TZS 1.2 billion writeback provision from previously impaired assets.
- Total assets grew by 13%, from TZS 127.52 billion to TZS 143.185 billion. The rise is mostly due to share value appreciation, investment in Government Bonds, and other investment assets.
- This report indicates the group’s continued commitment to improving shareholder returns by increasing revenues and returns.
Useful links
- National Investments Company Limited (NICOL.tz) HY2023 Interim Report
- National Investments Company Limited on AfricanFinancials
- Corporate Website
About National Investments Company Limited (NICOL.tz)
National Investments Company Limited (NICOL), listed on the Dar es Salaam Stock Exchange, is a Tanzanian investments company. The principal activity of the company is to acquire or establish and manage business enterprises in key sectors of the economy such as manufacturing, financial services, telecommunications, agriculture, mining and other sectors.
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