Maamba Collieries Limited (MCL) reported total revenue of K100.38 million (US$10.18 million) for the year ended 31st March 2017 (2016: K121.9 million (US$12.34 million) and had profit after tax of K21.2 million (US$2.15 million) (2016: K52.85 million (US$5.35 million). The company’s assets exceeded its liabilities by K1,023.8 million (US$107.91 million) as at 31st March 2017 (2016: K1.180.61 million) (US$105.6 million)). Additionally, the company has accumulated losses amounting to K842.72 million (US$87.69 million) (2016: K999.49 million (US$89.4 million).
During the year under review, MCL commissioned the first 150 MW Thermal Power Plant in August 2016 and the second 150MW was commissioned in November 2016 and the Commercial Operations Date was set for 31st December 2016.Maamba Collieries Limited is currently supplying 270MW to ZESCO. The revenue and financial position of the company is expected to improve in the future after the commissioning of the Thermal
There were no dividends declared during the year under review (2016: Nil).