Figures on a financial statement released yesterday and co-signed by TNM board chairman, George Partridge and Chief Executive Officer Michiel Buitelaar, has shown that the company’s profit went down by 10 percent in the year ending December 31 2019.

According to the statement, the drop in profit is attributed to the one-off functional review costs and increase in depreciation expense resulting from investments made in 4G and U900 technology among other things. Under the period in review,  TNM registered profit after tax of K15 million from K16.6 million realised in 2018.

Looking at the rest of 2020, the company has implemented appropriate responses to current and possible future developments. “The full scope of the potential social and economic fallout from Covid-19 remains unknown and this introduces a higher than usual degree of uncertainty into our business forecasts.” says the statement