Illovo Sugar Malawi remains optimistic of improved performance this year despite a drop in its profits for 2024.
The company’s profits dropped from K56 billion to K22 billion in 2024.
The firm also registered a drop in a number of fields, ranging from production, domestic sales and exports.
Illovo Sugar Malawi Board Chairperson, Jimmy Lipunga, expressed optimism of a rebound, owing to agriculture recovery and yield improvement programmes and other strategic performance improvement plans.
Lipunga made these sentiments during their 60th Annual General Meeting in Blantyre.
