The Malawi Stock Exchange (MSE) saw some of its enlisted firms outlining their expectations by June 30th, as the first week of July (1st to 5th) showed that firm’s expectations in the prior month that closed the first half of 2019.
According to a report by Alliance Stockbrokers Malawi, Standard Bank Malawi plc expected its profit for the period ending 30th June 2019 to be at least 35% higher than the corresponding period 2018, while Press Corporation plc expects its profit for the period ending 30th June 2019 to be more than 30% lower than the same period 2018. The stock market report reads“The Group’s prior half-year comparative included a once-off gain of MK8.4 billion emanating from a share-subscription transaction involving Open Connect Limited.”
NBS Bank plc expected its profit after tax for the period ending 30th June 2019 to be approximately 150% higher than the corresponding period 2018. while NITL plc expects its profit after tax for the period ending 30th June 2019 to be around 50% lower than the same period in 2018. “The information used to derive the expected performance to 30th June 2019 is based on share prices and dividends declared by investee companies as at 25th June 2019” reads the report.
The trading summary of the week in review shows that MASI gained by 0.007% up from 29 956 points recorded in the previous week and close at 29 958.16 points. Price gains in STANDARD (9.94%) and TNM (0.03%) led to an increase in the DSI which in turn led to an increase in MASI. The report reads, “The market traded a total of 1 288 560 shares with a total value of MK153 513 228.51 compared to a total of 4 582 384 shares with a total value of MK197 360 286 traded in the previous week”