Air Cargo Malawi Limited reports an 80 percent profit surge for 2023/24

Air Cargo Malawi Limited (ACM) has announced a remarkable 80% increase in profit before tax for the year ending March 31, 2024. According to the firm’s audited financial statements, which were approved during ACM’s 63rd Board Meeting on June 27, 2024, profits surged to K735 million from K408 million in the previous year.

Felix Tandwe, the Chairperson of ACM’s Board, credited the company’s impressive financial performance to rigorous expenditure management and strategic business diversification. Tandwe highlighted that ACM has focused on consolidating its core business areas while exploring new opportunities for growth.

Tandwe emphasized the importance of diversifying ACM’s revenue streams. The company has concentrated on boosting revenue from its three primary services: handling, freighter operations, and warehousing. “We have therefore been striving to increase the revenue we generate from our three main revenue streams: handling, freighter, and warehousing services,” Tandwe stated.

A key objective for ACM is to achieve financial self-sufficiency through its handling services. Tandwe noted that the company is close to reaching a point where revenue from handling alone could cover all operational expenses. This achievement would mark a significant milestone in ACM’s efforts to enhance financial stability and sustainability.

The substantial profit increase reflects ACM’s effective management strategies and successful implementation of its business diversification plans. As the company continues to refine its operations and expand its revenue base, it is well-positioned to sustain its growth trajectory and further strengthen its financial performance.

ACM’s latest results underscore its resilience and adaptability in a competitive market, setting a strong foundation for future success and continued profitability.