TNM | 2017 abridged financial results

By Published On: March 29th, 2018Categories: Corporate announcement

REVIEW OF THE YEAR

The company achieved good subscriber and service revenue growth during 2017 which resulted in sustained margins and profitability levels. These achievements were supported by the strong performance of the consumer and business enterprise products, strong brand and cost management strategies.

The economic environment stabilized during the period under review with falling inflation rates, falling interest rates and the stabilised exchange rates which resulted in foreign currency denominated expenditure savings…

OUTLOOK

The company continues to pursue its stated strategy to become the preferred ICT provider in Malawi through focus on improved customer experience and product innovation. The macro economic environment is expected to remain challenging putting pressure on margins and service revenue. Management will continue to pursue cost efficiences to protect margins.

DIVIDEND

Total Dividends of MK 6,024 million equivalent to MK 0.60 per share: (2016 MK 0.33 per share) are proposed for the period ended 31 December 2017:
MK 1,506 million : 15t per share was declared in June 2017 and paid in September 2017.
MK 2,008 million : 20t per share was declared in December 2017 and paid in January 2018.
MK 2,510 million : 25t per share to be declared at the upcoming AGM*

*The Directors propose a final dividend of 25 (twenty five) Tambala per share out of the profits of the company for the year ended 31 December 2017, to be declared at the forthcoming Annual General Meeting.

BY ORDER OF THE BOARD

George Partridge
Chairman

John M. O’ Neill
Chairman Board Audit Committee

Related download

TNNM | 2017 abridged report.pdf

The contents of the post above were obtained from third parties, which We, AfricanFinancials, believe to be reliable. However, We do not guarantee their accuracy and the above information may be in condensed form. The reader is encouraged to refer to the original source of the information, which, in most cases, is in PDF format and on the originating company's letterhead. While We endeavour to replicate the original content accurately, We cannot guarantee the absence of errors in the above article and We disclaim any liability regarding reliance on information provided in this article.

Telekom Networks Malawi Limited (TNM.mw)

Share price: 1,422.00 Tambala ▲ (1.00 | 0.07% – 28/03/23)

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