{"id":5393,"date":"2021-09-05T22:01:11","date_gmt":"2021-09-05T22:01:11","guid":{"rendered":"https:\/\/www.africa-press.net\/malawi\/all-news\/tnm-profits-up-by-19-percent-on-mpamba-and-data-revenue"},"modified":"2021-09-05T22:10:50","modified_gmt":"2021-09-05T22:10:50","slug":"tnm-profits-up-by-19-percent-on-mpamba-and-data-revenue","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/malawi\/all-news\/tnm-profits-up-by-19-percent-on-mpamba-and-data-revenue","title":{"rendered":"TNM profits up by 19 percent on Mpamba and Data revenue"},"content":{"rendered":"

Africa-Press<\/a> – Malawi<\/a>. <\/strong><\/span>Net profit for Malawi\u2019s pioneer mobile network services provider TNM plc grew by 19 percent in the first half of 2021, after two consecutive years of negative growth in profits during the same period. The company reported a drop of 29 percent and 3 percent in its first half profits in 2020 and 2019 respectively.<\/p>\n

The growth of 2021 has been propelled by solid growth in revenue from Mpamba growing by 54 percent and internet business growing by 14 percent, the company\u2019s published results for the first half of the year ending 30 June 2021, show.<\/p>\n

The unaudited interim financial results reflect remarkable improvements in performance of non-traditional profit streams for TNM plc, which has historically relied on the voice (GSM) business segment for the bulk of its profitability and retained earnings.<\/p>\n

Revenue from Mpamba grew significantly by 54 percent to over K5 billion while that for data was up 14 percent to K15.6 billion, show the half-year results.<\/p>\n

The two business segments have combined efforts to help the TNM group\u2019s total revenue grow by 8 percent from K42.2 billion in 2020 to K45.5 billion in 2021 during the same period of review.<\/p>\n

\u201cEBITDA margin increased to 38 percent (June in 2020: 36 percent) due to cost containment initiatives that management continues to implement.<\/p>\n

\u201cNet profit after taxation increased by 19 percent to MK4, 511 million (June 2020: MK3, 780 million),\u201d reads the financial results, co-signed by board chairman George Partridge and Chairman Board Audit Committee, Lekani Katandula.<\/p>\n

Overall, the results show a business on its recovery path. TNM anticipates the data business segment to continue growing strongly and is increasing its investment to support distribution systems and network expansion.<\/p>\n

TNM\u2019s capital expenditure on distribution and network infrastructure has increased from K11.7 billion in 2020 to K14.8 billion 2021 during the same period. The investment in network operations has doubled in the two years from K7.3 billion in 2019 to K14.8 billion in 2021.<\/p>\n

The telco, listed on the Malawi Stock Exchange (MSE) says during the first six months of the year, its customer base increased by 26 percent to 4.5 million, a strong recovery from the negative growth experienced in 2019, and higher than the 2 percent growth of 2020.<\/p>\n

Despite the economic challenges posed by two years of an unrelenting Covid-19 pandemic, volatile exchange rates and foreign currency shortages, TNM remains optimistic that its business model will deliver more positive results.<\/p>\n

\u201cWe will continue with our business model to minimize these impacts and continue to create value for our stakeholders,\u201d reads the statement accompanying the 2021 half-year financial results.<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Malawi. Net profit for Malawi\u2019s pioneer mobile network services provider TNM plc grew by 19 percent in the first half of 2021, after two consecutive years of negative growth in profits during the same period. The company reported a drop of 29 percent and 3 percent in its first half profits in 2020 […]<\/p>\n","protected":false},"author":84,"featured_media":5392,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[2179,233,371,2180,234],"class_list":["post-5393","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-14-percent","tag-africa-press","tag-africa-press-malawi","tag-financial-results","tag-malawi"],"yoast_head":"\nTNM profits up by 19 percent on Mpamba and Data revenue - Malawi<\/title>\n<meta name=\"description\" content=\"Net profit for Malawi\u2019s pioneer mobile network services provider TNM plc grew by 19 percent in the first half of 2021, a ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/malawi\/all-news\/tnm-profits-up-by-19-percent-on-mpamba-and-data-revenue\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TNM profits up by 19 percent on Mpamba and Data revenue\" \/>\n<meta property=\"og:description\" content=\"Net profit for Malawi\u2019s pioneer mobile network services provider TNM plc grew by 19 percent in the first half of 2021, a ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/malawi\/all-news\/tnm-profits-up-by-19-percent-on-mpamba-and-data-revenue\" \/>\n<meta property=\"og:site_name\" content=\"Malawi\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-09-05T22:01:11+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-09-05T22:10:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2021\/09\/img-6135404c8d390.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1017\" \/>\n\t<meta property=\"og:image:height\" content=\"1172\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/tnm-profits-up-by-19-percent-on-mpamba-and-data-revenue#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/tnm-profits-up-by-19-percent-on-mpamba-and-data-revenue\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"TNM profits up by 19 percent on Mpamba and Data revenue\",\"datePublished\":\"2021-09-05T22:01:11+00:00\",\"dateModified\":\"2021-09-05T22:10:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/tnm-profits-up-by-19-percent-on-mpamba-and-data-revenue\"},\"wordCount\":415,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/tnm-profits-up-by-19-percent-on-mpamba-and-data-revenue#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2021\/09\/img-6135404c8d390.jpg\",\"keywords\":[\"14 percent\",\"Africa Press\",\"Africa Press-Malawi\",\"financial results\",\"Malawi\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/malawi\/all-news\/tnm-profits-up-by-19-percent-on-mpamba-and-data-revenue#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/tnm-profits-up-by-19-percent-on-mpamba-and-data-revenue\",\"url\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/tnm-profits-up-by-19-percent-on-mpamba-and-data-revenue\",\"name\":\"TNM profits up by 19 percent on Mpamba and Data revenue - 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