FMB Capital Holdings plc (FMBCH) has registered a profit after tax of 14.29 million dollars which is about K10.5 billion in the half year period ended June 30, 2020.
According to its published financial statement, in the same period last year, the group registered 5.1 million dollars which is about K3.8 billion representing 181 percent growth.
The company’s assets grew from 950 million dollars to 1.1 billion dollars representing a 15 percent increase.
Reads part of the report, : “The group has witnessed stellar performance from its Botswana subsidiary owing to increased transactional volumes, a growing customer base and a significant foreign currency income”.
“FMBCH’s Zimbabwe business which had a difficult 2019 owing to exchange rate challenges in that market, also performed well above expectation while businesses in Malawi, Mozambique and Zambia have remained profitable”.
The statement indicate that during the period under review, the company’s net interest grew by five percent to 29.06 million while non-funded income rose by 20 percent to 23.90 million dollars from 19.95 million dollars in June 2019.
In his remarks, FMBCH group managing director, Dheeraj Dikshit, said the results are an encouragement to them and are in line with the company’s 2020 financial and strategic goals.
He added that in the earlier months of 2020 when the covid-19 pandemic became more pronounced, the group prioritized the safety of its colleagues, customers, partners, suppliers and the local communities in which they work in.
“I would like to largely thank the extraordinary efforts of all our people who delivered a resilient first half performance in the face of challenging economic environments. Disciplined execution and fast innovation in the face of a crisis contributed to improved organic growth and profitability”. Said Dikshit.
The group plans to end the year in a strong position following a number of initiatives that have been implemented across its market.
FMB capital holdings plc operates in five Southern African Development Community (SADC) markets : Malawi, Zambia, Botswana, Mozambique and Zimbabwe.
No comments:
Post a Comment