Airtel Malawi Plc has released a revised trading statement for the financial year ending 31st December 2024, adjusting its profit expectations. Initially, the company projected a profit after tax (PAT) ranging between MK43.1 billion and MK47.7 billion, representing a substantial increase of 380% to 409% from the previous year’s reported loss of MK15.4 billion. However, the revised estimate now places the PAT between MK41.8 billion and MK43.5 billion, indicating a growth of 371% to 383% from the prior period.
The downward revision stems from higher-than-anticipated foreign exchange losses, which have impacted the company’s profitability projections. Despite the adjustment, the expected profit marks a significant turnaround from the loss recorded in the previous financial year.
This revision highlights the ongoing challenges businesses face in the Malawian market, particularly in managing currency volatility. Investors will be watching closely to see how Airtel navigates these economic headwinds while maintaining profitability.
