In terms of the Listings Requirements of the Malawi Stock Exchange Limited, a listed company is required to publish a trading statement as soon as there is a reasonable degree of certainty that the financial results for the period to be reported upon next will differ by at least 20% from that of the previous corresponding period.
Press Corporation Plc accordingly advises that profit after tax for the year ending 31st December 2019 is expected to be lower than the previous corresponding period by more than 35%. This is mainly due to the fact that the Group’s prior year comparative includes a one-off gain of MK6.2 billion emanating from a share-subscription transaction involving Open Connect Limited.
The information on which this Trading Statement is based has not yet been reviewed or reported on by Press Corporation Plc’s auditors. Press Corporation Plc’s financial statements for the period will be published in the press in April 2020 following their review and approval by the Board of Directors at its next meeting.
BENARD M W NDAU