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ICON Properties PLC Posts K16.7 Billion Profit

Chipande Chipande - pic by Happy Njalam'mano

A construction company, Icon Properties PLC has announced posting K16.7 billion after tax profit in 2022 with a final total dividend of K1.6 billion to be given to shareholders.

The company's director, Graham Chipande says they have put in place various construction projects to enhance sustainable generation of resources to maintain the current performance.

“We are looking forward to building long term value, investing for the future and creating sustainability,” said Chipande.

The director added that the company is pursuing the right projects so as to make an impact in the country’ economy.

Commenting on the challenges that ICON faced due to cyclone freddy, the director said they intend to conduct routine maintenance on their property.

“We have learnt one lesson, on the need to construct resilient buildings to stand tough weather conditions,” he said.

The company has however expressed worry over rising cost of construction materials. “We know that Malawi's economy is facing a lot of pressures but we have plans to make sure that the company continues to make profits,” said the director.

One of the shareholders, Lovemore Tinto, asked the company’s board and management to continue working hard in an effort to generate adequate resources and survive.

The sentiments were made during the Annual General Meeting in Blantyre.

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Last modified on Tuesday, 15/08/2023

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