In a trading statement published on 30th December 2019, Icon Properties stated that it expects over 200% increase in its profit after tax.
The statement reads, “ICON Properties plc (ICON) accordingly advises that the profit after tax for the year ending 31
December 2019 is expected to be more than 200% higher than the previous two months period ended 31 December 2018.”
Icon Properties’ Company Secretary has outlined in the statement, that the variance is due to ICON having been in operation for only 2 months in 2018, whereas it has
now been in operation for a full year in 2019.
On the information on which the projections are being calculated from, is based on internal forecasts and has not been reviewed or reported on by ICON statutory auditors. During its first Annual General Meeting (AGM) about two months ago, the company posted a K2.52 billion after tax profit in the half-year ended June 30 2019. The firm’s board chairperson Vizenge Kumwenda said that the company has performed well during the period in review, comparing to a K1.2 billion after tax profit for the two months period ended December 31 2018.