Results for the year ended 31 December 2018.

PERFORMANCE
Ongoing initiatives to improve revenue streams and manage costs continued to positively impact performance during the year. The company improved its EBITDA margin to 40% in 2018 (2017: 37%). Net financing cost increased to MK 2,914 million (2017: MK 2,810 million). Net profit after taxation for 2018, increased by 27% to MK 16,666 million, from MK 13,108 million in 2017.

Investment in capital projects totalled MK 19,318 million in 2018 (2017: MK 19,037 million) which mainly consisted of 4G mobile technology (LTE) expansions, network quality improvement, new coverage sites across the country and the replacement of the mobile money platform. LTE technology positions the company as a leading ICT provider, employing leading edge technology to offer world class mobile and fixed broadband services.

Outlook
The company continues to pursue its strategy to become the preferred ICT provider in Malawi through focus on improved customer experience and product innovation. Management will continue to pursue cost efficiencies to protect margins and profitability.

Dividends
Total Dividends of MK 7,530 million equivalent to MK 0.75 per share: (2017 MK 0.60 per share) are proposed for the period ended 31 December 2018:
MK 2,510 million: 25t per share was declared in June 2018 and paid in September 2018.
MK 2,510 million: 25t per share was declared in December 2018 and paid in January 2019.
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 2018, 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
TNM | FY2018 Financial results