TNM PROFIT DOWN BY 3 PERCENTAGE – Malawi News Online

Due to depreciation expenses from investment in network infrastructure, TNM plc first-half profit dropped by 3%, translated to K6.7 billion last year to K6.9 billion during the same period last year.

According to unaudited financial results for the first-half of the year, TNM invested K7.3 billion in network and systems for expansion, improvement and future use as data needs grow.

A statement accompanying the results jointly signed by chairperson George Partridge and chairperson of board audit committee John O’Neill, says the group continues with its strategy to become the preferred ICT provider in Malawi as it focuses on seamless customer experience, smart channel management and investment in appropriate technologies.

In recent news, last month, Old Mutual partnered with TNM Mpamba, a development that will see premium payments for Old Mutual being paid using TNM Mpamba. This service is available to all Old Mutual retail products holders with the following policies; Tsogolo Savings Plan, Timba Family Plan and Timba Plus.