The National Investment Trust Limited (NITL) has announced an after tax profit of K1.3 billion in 2018, which is a major profit decrease from K2.4 billion in 2017.
The loss has been attributed to share price losses on most investee companies in 2018 which saw MASI decreasing from 62.14% in 2017 to 34.19% in 2018.
The analysis report also shows that total expenses increased by 36.5% from MK119 033 000 in 2017 to MK162 533 000 in 2018, while on the other hand, equity portfolio grew by 14.8% in 2018 as opposed to a growth 37.1% in 2017. The report reads “The fair value on gains equity investments reduced by 47.21%. This is largely due to share prices falling in 2018. Assets grew by 13% with equity investments growing by 14% while total liabilities decreased by 36%.”
The board directors of NITL have recommended a final dividend of 50 tambala per share as opposed to 80 tambala in 2017. This will be paid on the 14 of June 2019 to the shareholders appearing in the register on the 14 June 2019.