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Kenya’s Centum H1 pretax profit soars on higher investments

NAIROBI – Kenya’s Centum Investment Co Plc said on Monday its first-half pretax profit surged 35 percent to 2.39 billion shillings ($23.36 million), aided by higher investments.

The firm, which invests in listed firms and private companies from beverage manufacturers, a commercial bank, publishing firm to property developers, said its investment income, for the period ended September, jumped to 4.09 billion shillings from 2.25 billion shillings.

Centum’s first-half pretax profit came in at 2.39 billion shillings, compared with 1.77 billion shillings in the same period a year ago.

During the first half, the company completed the sale of GenAfrica Asset Managers, which helped boosted income with a gain of 1.2 billion shillings, Centum Investment said.

According to the company, its net asset value per share, a key measure of performance for investment firms, edged higher to 73.6 shillings from 73.2 shillings last year.

Reuters

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