Oct 20, 2017 Last Updated 1:58 PM, Oct 20, 2017

MPICO Boasts Of Improved Profits

The property company issued rights to the public and shareholders last year in a bid to raise capital The property company issued rights to the public and shareholders last year in a bid to raise capital Image sourced at faceofmalawi.com
Published in Business News
Read 11158 times
Rate this item
(0 votes)
Tagged under

Property development Company MPICO is boasting of an improved performance since its Rights Issue.

MPICO’s unaudited Financial Results Report indicates that the Company has post an after tax profit of MK2.7 Billion in the first half of the year, up from the MK700 Million which was registered during the same period last year.

The property company issued rights to the public and shareholders last year in a bid to raise capital, a development which resulted in MK9 Billion  being raised.

At its 43rd Annual General Meeting in 2016, MPICO shareholders authorised an increase in the share capital from MK60 Million to MK150 Million representing 3 billion ordinary shares at 5 tambala each.

Board chairperson of the Company Edith Jiya says they are working on strategies that would ensure sustainability of the good performance in the remaining half of the year.

Meanwhile, the Share Price on the MPICO counter at the Stock Exchange remains steady at MK15 per share.

MPICO was incorporated on the 12 August, 1972 with a nominal capital of MK4m by Capital City Development Corporation, a parastatal established with the objective of attracting international and Malawian based commercial investment in the development of Malawi’s new Capital City, Lilongwe, in accordance with the Capital city Construction Act of 1968.

While CCDC concentrated on fabricating infrastructure for the new Capital City, low cost shelter, government offices and housing, MPICO concentrated on building private sector offices, housing, shops, factories, hotels, warehousing e.tc with the assistance of private sector capital.

MPICO incorporated subsidiary companies to suit the needs of particular investors and development projects.

By 1979 the MPICO group comprised 18 companies, 400 residential units, 2 hotels, 11 industrial units and a number of other properties with funds utilized or available of over MK29m, involving 59 investors other than CCDC.

70 comments

  • Comment Link testt testt Friday, 20 October 2017 16:06

    I have observed that in the world the present day, video games are classified as the latest rage with children of all ages. There are times when it may be unattainable to drag the kids away from the games. If you want the best of both worlds, there are plenty of educational activities for kids. Thanks for your post.

  • Comment Link Luiz Gastao Bittencourt da Silva Luiz Gastao Bittencourt da Silva Friday, 20 October 2017 15:05

    Hi I am so grateful I found your blog, I really found you by error, while I was browsing on Google for something else, Anyways I am here now and would just like to say cheers for a incredible post and a all round thrilling blog (I also love the theme/design), I don't have time to go through it all at the minute but I have book-marked it and also included your RSS feeds, so when I have time I will be back to read more, Please do keep up the awesome work.|

  • Comment Link Grupo Serval escandalo Grupo Serval escandalo Friday, 20 October 2017 11:39

    It's remarkable to pay a visit this website and reading the views of all friends regarding this post, while I am also keen of getting experience.|

  • Comment Link Luiz Gastao Bittencourt da Silva Luiz Gastao Bittencourt da Silva Friday, 20 October 2017 09:07

    I was more than happy to discover this great site. I need to to thank you for your time just for this wonderful read!! I definitely liked every little bit of it and i also have you book marked to check out new stuff in your web site.|

  • Comment Link Luiz Gastão Bittencourt da Silva Luiz Gastão Bittencourt da Silva Friday, 20 October 2017 06:31

    I have been surfing on-line more than three hours these days, yet I by no means found any attention-grabbing article like yours. It's beautiful worth sufficient for me. In my view, if all webmasters and bloggers made excellent content as you probably did, the net shall be a lot more useful than ever before.|

Leave a comment

Make sure you enter the (*) required information where indicated.Basic HTML code is allowed.

Capital Tweets

Elita Soko eliterally Elita Soko

"@Reuters: Watch: A vampire scare has triggered mob violence in Malawi which has killed at least nine people" @CapitalFMMw... Smh

5 hours, 56 minutes ago Reply Retweet Favorite
kokoliko kwacha KamwanaHussyn kokoliko kwacha

@JustSamie @CapitalFMMw Telala

6 hours, 27 minutes ago Reply Retweet Favorite
Shakie Nany shakie_nany Shakie Nany

@JustSamie @CapitalFMMw Drop me #FireAndButter by @RadioandWeasel ft @Kingbeenieman x #MI #10YearsOfRAW

6 hours, 32 minutes ago Reply Retweet Favorite
Samie K. JustSamie Samie K.

#FeelGoodFriday @CapitalFMMw #WeekendThings #MusicMovies What is a your favourite movie franchises of all time?

6 hours, 33 minutes ago Reply Retweet Favorite
Last Mike Original LastMike_UG Last Mike Original

@JustSamie @CapitalFMMw play for me #juicejuice by @Radioandweasel #10yearsofRAW

6 hours, 35 minutes ago Reply Retweet Favorite

Find Us on Facebook