For over a year, Illovo’s stock price barely showed any bullish momentum. Investors who had been holding onto the stock were left watching as it traded sideways with no significant movement. However, this recent rally suggests a shift in market sentiment, possibly driven by the company’s strong earnings outlook.
In todays trading session, Illovo Sugar (Malawi) Plc has finally broken free from its slumber. The stock saw a 14.97% jump, reaching MK1,558. This sudden surge comes merely a week after the company released its FY2025 Trading Statement, revealing a projected profit after tax (PAT) for the six-month period ending 28 February 2025 to be between MK25.3 billion and MK28.7 billion. This represents an increase of 13% to 28% from the previous period’s PAT of MK22.4 billion.
