By Chisomo Phiri
Umodzi Holdings has recorded a K1 billion profit in the first quarter of this year, remitting K400 million to government as its shareholder.
Board chairperson Misheck Esau announced the results on Friday following a board meeting, noting that the company has steadily grown since reclaiming management from previous operators in 2015.
He highlighted that the firm, which once struggled with losses and debts of up to K10 billion, has since cleared its obligations and turned profitable.
“In the 2024–2025 financial year that has just closed, we made K3.4 billion profit after tax, representing growth of over 80 percent compared to the K1.9 billion profit after tax posted in 2023–2024,” said Esau.
The firms Chief Executive Officer (CEO ) Steve Lwanda attributed the improved performance to stronger management practices.
“We controlled a lot of expenditure and shifted focus from accommodation to the conference side. We also tightened cost controls while maximizing revenue,” he said.
Lwanda, however, cautioned that rising costs of food and utilities continue to pose a challenge despite the positive outlook.
