TNM revenue 23% up

Malawi Stock Exchange-listed Telekom Networks Malawi (TNM) has reported a 23% revenue increase and 42% profit growth in the past financial year.

In a statement, the directors of Telekom Networks Malawi Limited said the company had experienced a significant increase in its subscriber base and the traffic on its network as a result of various innovative product offerings and promotions.

The statement said: “This is reflected in the strong growth of 23% in revenue, which at MK5,301 million is 23% higher than that achieved in the first six months of 2010, with a 42% increase in profit.” The company added that it is making ongoing investments in infrastructure expansion.

TNM is a wholly Malawian owned by Malawi Telecommunications Limited (MTL), First Merchant Bank, Press Corporation Limited, Old Mutual, public shareholders and employees.

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