Exchange losses amounting to K6.36 billion incurred by Castel Brewery Malawi Limited has affected profit margins for conglomerate Press Corporation plc which has posted an after tax profit of K19.9 billion, 13% lower than prior year.
In a financial statement for the year ending 31st December 2020 signed by Press Corporation plc Board Chairman Randson Mwadiwa and PCL Group Chief Executive Officer George Partridge, the conglomerate said granted the very difficult operating environment, the Group registered respectable results with profit before tax for the period at MK38.22 billion (2019: MK40.31 billion) was 5% lower than prior year.
PCL Group CEO says will exit the beverages business
Mzinda SACCO members to share K14m spoil nyasatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nyasatimes.com Daily Mail and Mail on Sunday newspapers.
April 12, 2021 Watipaso Mzungu – Nyasa Times 1 Comment
Disgruntled retrenched employees of Castel Malawi Limited (CML) have expressed disappointment over the failure by their former employer to show up at the Industrial Relations Court (IRC) on Friday last week.
Castel Malawi Lilongwe Plant staff
Between 2019 and 202, CML laid off close to 300 workers due to what the company termed as ‘harsh economic climate change compounded by illegal entry of foreign beers into Malawi’.
The company’s senior manager, Godwin Ng’oma, said then that the company was continuously posting losses; hence, the decision by the management to retrench some of its members of staff to keep the brewer afloat.
Castel Malawi has donated 8,000 litres of sanitizer and 23,000 disposable masks to 20 selected health centres across the country aimed to reinforce basic preventative measures against the disease.
Nyirenda makes a symbolic presentation of the items to government, received by Chisamire (Photo by Sylvester Kumwenda)
Nkhoma: We need to pull resources together to transport vaccine to all corners of Malawi so Castel Malawi is indeed a good partner of Government.-Photo by Alfred Chauwa, Nyasa Times
Speaking on Thursday during a ceremonial handover ceremony to the Ministry of Health in Lilongwe, Human Resource Director for Castel Malawi, Naomi Nyirenda said this comes as a response to governments’ call for the corporate world to aid in the fight against the disease.
By Sylvester Kumwenda
Lilongwe, March 4, Mana: Castel Malawi has donated 8,000 litres of sanitizer and 23,000 disposable masks to 20 selected health centres across the country aimed to reinforce basic preventative measures against the disease.
Speaking on Thursday during a ceremonial handover ceremony to the Ministry of Health in Lilongwe, Human Resource Director for Castel Malawi, Naomi Nyirenda said this comes as a response to governments’ call for the corporate world to aid in the fight against the disease.
“As Castel Malawi, we have been affected in different ways as some of our colleagues have been affected by the disease. But we looked at the plea from government for help and we felt we should respond by making this donation.