Dual listed conglomerate, Press Corporation Limited (PCL), says despite Malawi\u2019s economic outlook being mixed and murky, prospects are high for a stable macro-economic environment as most economic fundamentals have taken on a positive trajectory.<\/p>\n
The trend, according to PCL chairperson, Patrick Khembo, offers hope that the operating environment can improve in the medium term, a development he said would be significant to the business sector.<\/p>\n
Khembo was speaking during PCL\u2019s Annual General Meeting held on Wednesday in Blantyre where the conglomerate also unveiled its results for the year ending December 31, 2015.<\/p>\n
In the year under review, the conglomerate registered a profit of K12.2 billion from K24.6 billion in the prior period, representing a decline of 43 percent.<\/p>\n
Khembo attributed the fall in profits to the poor operating environment characterised by devaluation of the kwacha and high inflation and interest rates.<\/p>\n
\u201cBut we appreciate the efforts authorities in government are doing to create the necessary environment for the general economy to improve,\u201d Khembo said.<\/p>\n
He, however, asked the government to remain aggressive in its efforts to further improve the macro-economic environment.<\/p>\n
\u201cHigh inflation and lending rates coupled with poor performance of the kwacha continue to be a challenge to most businesses,\u201d Khembo observed.<\/p>\n
Khembo suggested that more attention be given to tame inflation levels to influence improvements in the other key indicators.<\/p>\n
\u201cIssues of inflation and high interest rates are also key to the general performance of the businesses and I am sure that the authorities are doing precisely that in order for the economy to do well,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"
Dual listed conglomerate, Press Corporation Limited (PCL), says despite Malawi\u2019s economic outlook being mixed and murky, prospects are high for a stable macro-economic environment as most economic fundamentals have taken on a positive trajectory. The trend, according to PCL chairperson, Patrick Khembo, offers hope that the operating environment can improve in the medium term, a […]<\/p>\n","protected":false},"author":3,"featured_media":26791,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-26787","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/26787","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/comments?post=26787"}],"version-history":[{"count":1,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/26787\/revisions"}],"predecessor-version":[{"id":26792,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/26787\/revisions\/26792"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/media\/26791"}],"wp:attachment":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/media?parent=26787"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/categories?post=26787"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/tags?post=26787"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}