Telekom Networks Malawi Plc (TNM) has issued a revised trading statement, increasing its profit after tax (PAT) forecast for the financial year endes December 31, 2024.
TNM initially projected a PAT between MK8.140 billion and MK9.106 billion, representing a 271% to 291% increase from the MK4.760 billion loss recorded in 2023. However, following further financial reviews, the company now expects PAT to be between MK9.360 billion and MK10.313 billion, marking a 297% to 317% improvement compared to the previous year.
With TNM rebounding from a loss-making position in 2023 to a multi-billion kwacha profit, investor confidence in the telecom stock may strengthen, potentially influencing its share price performance. The market will now closely watch TNM’s full audited results for further insights into growth drivers and sustainability of this turnaround.
