Malawi stock Market listed firm – MPICO says its net profit after tax for the year ending December 31 2017 is expected to double over the previous corresponding period.

The company’s Managing Director Damien Kafoteka has confirmed with YFM online following its financial status report released on Thursday which is in line with Malawi Stock Exchange (MSE) listing requirements.

Kafoteka said the expected 100 percent increase above last year’s 156 percent is due to financial benefits generated from the stock exchange as well as reduced inflation and interest rates.

“This year we have reduced charges because we managed to raise more money to repay some of our debts because of the shares sold at the stock market and this means that now we have a little bit cash to generate growth within the business.

“Looking at trends such as reduced inflation which has also lead to reduced interests rates we think this has also contributed to the increase,” he added.

However, Kafoteka has appealed for government’s flexible financial policies so as to keep the currency afloat.

“Same as last year there is still too much slowdown in payments in government after business and this is suffocating growth of businesses and therefore moving forward government should check this out,” Kafoteka concluded.