A leading property management company, Icon Properties, which is a subsidiary of NICO Group Company has announced a 14.97 percent increase to K19.2 billion in their profit-after-tax for the year 2023 from K16.7 billion in 2022.
Icon Properties’ Board Chairperson, Eric Chapola made the announcement during its 6th Annual General Meeting in Blantyre, where he attributed the growth in the past three years, to good work by management, the board, and shareholders despite the turbulent business environment caused by COVID19, devaluation, cyclone Freddy and other factors.
Chapola emphasized on the importance of improving the welfare of shareholders, and staff which he said is a crucial motivational factor to the growth.
“As a property development and management company we understand the great role that shareholders, and our staff play in the development of the institution.
“We, therefore, need to make sure that we focus on their welfare and make sure they enjoy the partnership,” said Chapola.
“Shareholders are the owners of the company and they deserve motivation if we are to continue recording good profits.”
Minority Shareholders Association general secretary, Frank Harawa commended Icon Properties management and the board for making strides in the harsh economic environment the property business is operating in.
“Shareholders are the owners of the company and they deserve motivation if we are to continue recording good profits.”
Eric Chapola
Icon Properties’ Board Chairperson
