A performance report for the National Investment Trust Limited (NITL) has recorded a profit after tax of MK1.7 billion registering a growth of 25%.
The report, compiled by Alliance Stockbrokers Limited, says the profit is largely attributed to the fair value gains on equity investments which increased by 40%. Figures on the report show that total income increased by 5% in 2019 largely due to
other income of MK40 million despite decrease in
dividend income and interest income by 3.8% and
On the other hand, total expenses decreased by 6% which led to a fair increase in the profit before fair value gain. while the equity portfolio grew by 17.6% as opposed to 14% in 2018. Moving forward, the company says that the current political tension and the emerging COVID-19 pandemic is likely to affect the performance of the companies NITL has invested
- “However, the impact is expected to be mitigated
by the fund manager NICO ASSET MANAGERS who
are keenly watching the market.” says part of the report.
The National Investment Trust Limited (NITL) was incorporated in Malawi as a public company on 20th September 2001. The Principal objective of NITL is to provide a vehicle to facilitate broad public participation in a diverse portfolio of equity investments in Malawi. NITL has been licensed as an investment trust company by Reserve Bank of Malawi in terms of the powers vested in it by Section 35 of The Capital Market Development Act.