Press Corporation plc (PCL) shareholders have seen their investment grow in number after the conglomerate split its ordinary shares, a move expected to make the company’s stock easier to buy and sell on the market.
The decision came as PCL announced a record K261 billion profit for the year ended 2025, more than double the K126.3 billion posted in 2024, signaling another year of strong growth for the conglomerate.
Speaking during the company’s 42nd Annual General Meeting in Blantyre on Friday, PCL chief executive officer Ronald Mangani said the board approved a one-to-35 share split to improve liquidity on the Malawi Stock Exchange.
“We noted that because the shares were very few and were pricey, even though they were trading at a discount, it became necessary for us to split them so that we have many shares in the market and the price can be discovered to its real value,” said Mangani.
He said once the process is completed, shareholders who previously owned one ordinary share will automatically own 35 shares.
Mangani said the company expects increased trading activity, improved liquidity and a market price that better reflects the true value of PCL shares.
“We expect that more trading will take place and, as a result, there will be more liquidity and the real price of PCL shares will be established on the market,” he said.
On the strong financial performance, Mangani attributed the results to hard work across the group’s subsidiaries, joint ventures and associate companies.
“Our management teams and all other players in the group have been working very hard. Performance has been very good across most subsidiaries and associate companies,” he said.
Despite economic challenges, Mangani said PCL remains optimistic because of its diversified investment portfolio.
“Some of the headwinds facing the economy will continue, but because we are a diversified company, we are able to manage them and continue performing better than competition,” he said.
On the group’s energy investment, Mangani said the project remains a priority but is awaiting the completion of an implementation agreement with the government before reaching financial close.
He said the company is also engaging the government to accelerate the process while exploring other alternatives.
Mangani also addressed environmental concerns surrounding effluent spillages at Press Cane and Ethanol Company Limited (Ethco), saying the group plans to commission zero-liquid discharge plants that will convert industrial waste into organic fertiliser.
“The zero-liquid discharge plant will convert effluent into organic fertiliser and other products, eliminating the need to discharge waste into dams,” he said.
He said the fertiliser plant is expected to be commissioned within the next two months.
Meanwhile, Minority Shareholders Association of Listed Companies (MISALICO) general secretary Frank Harawa welcomed the share split, describing it as good news for shareholders.
Harawa commended the PCL board for taking a decision that he said would benefit investors and improve participation in the company’s shares.
