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Chikaonda bids PCL shareholders farewell PDF Print E-mail

By William Kumwembe - The Daily Times

Press Corporation Limited Chief Executive Ofiieer, Mathews Chikaonda, on Wednesday bade farewell to the company’s shareholders during the conglomerate's 32nd Annual General Meeting held in Blantyre.

The former Reserve Bank of Malawi governor and finance minister said he would leave PCL with his head high having significantly changed the accounts book for the dual listed conglomerate.

In an interview on the sidelines of the AGM, Chikaonda boasted to have significantly grown income and profits for the business.

In 2002, when Cliikaonda joined PCL, the business recorded a profit after tax of MK531 million, while this year the business posted a post tax profit of MK102.2 billion.

Within the 14 year period, shareholder wealth has equally grown from MK4 billion to MK90 billion.

“1 walk out of Press Corporation with my head held high despite some distortions that one might have heard in the media," said Chikaonda.

He downplayed fears that his moving might have an impact to the business as the firm has implemented "a serious succession plan" implemented to ensure continuity.

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