By Chimwemwe Mangazi:
MPIKU PROFIT UP
Mpico Plc has posted a K6.8 billion profit after tax for the year ended December 31 2018 compared to a K5.1 billion profit recorded the previous year.
This represents a 33 percent profit jump.
Mpico attributes the profit rise to reduced rental arrears by the government and increased occupancy levels at its Gateway Mall in Lilongwe.
A statement of financial results for the period published Thursday shows that as at December 2018, the government paid the landlord K5.7 billion of the K8 billion rental arrears recorded in December 2017.
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