Press Corporation PLC has recorded an after tax profit drop of 7%, attributing that to 60% stake in Open Connect Limited which costed K6.16 billion.
In its 2018 financial results, Press PLC has also noted a revenue growth of 7% while celebrating an underlying profit after tax increase of 20%.
The corporation has also reviewed its companies, like TNM and MTL, which the former registered 27% after tax profit growth, while the latter registered 121% in its net increase. Speaking of its telecoms companies, Open Connect Limited showed a 126% profit after tax growth.
In its outlook the Management of Press Corporation portrays positive expectations. The statement reads, “The agriculture sector is expected to perform well following the good rains received across the country”. However, management also saw that election overspending could be a constraint in macroeconomical environment.
PCL Directors have resolved to give a final dividend of K2.403 billion representing K20.00 per share, to be paid on Friday 30th August 2019.