A statement accompanying financial statements co-signed by board chairperson Rob Scharar has outlined that Icon Properties plc has posted a K7.4 billion profit for the year ended December 31 2019.

The registered profit is a result of the company’s first full year, having been found and enlisted on the stock market in mid 2018. With 35 properties on its name, the firm generated K11.8 billion in income under the year in review.

According to the statement, total expenses stood at K2.3 billion during the year under review with property and administrative management fees, repairs and maintenance and utility costs as some of the major expense areas. The board has since proposed to pay a final dividend of K734 million, representing 11 tambala per share, bringing the total dividend for the year to K1.403 billion, representing K21 per share.

Considering the coronavirus pandemic, the company says the full impact of the pandemic cannot be fully assessed but the group is closely monitoring the situation. “Cost containment will be key during the period of uncertainty whilst refining the plans for projects earmarked to create value for all stakeholders.” says part of the statement.