, NAIROBI, Kenya, Oct 17 – Centum Investment Company Limited has announced a 138 percent increase in profit before tax from Sh1.307billion in 2012 to Sh3.248billion in the year ended 2013.
The firm’s Chairman James Muguiyi says assets grew by 36 percent to Sh21.4 billion while third party funds grew by 71 percent to Sh2.4 billion.
He announced that total assets under management grew by 39 percent to Sh23.8 billion with a 207 percent increase in income from Sh1.273billion in March 2012 to Sh3.906billion.
“Our total returns increased by 116 percent to Sh2.4billion we raised Sh4.2billion in five-year debt and the Two Rivers project kicked off,” he said.
Two Rivers is a new master planned urban node on 100 acres of prime property located in Runda/Gigiri area along Limuru road within the highly sought after diplomatic blue zone in Nairobi.
The development is set to become the preferred destination in East Africa in which to invest, do business, live, shop and experience a unique urban lifestyle.
Shareholder wealth grew to Sh2.4billion while Private Equity (PE) portfolio had a gross return of 10.4 percent amounting to Sh897 million.
Real Estate and Investments (RE&I) portfolio had a gross return of 37.2 percent amounting to Sh967 million.
Centum Chief Executive Officer James Mworia said that in the 2012-2013 year, the firm acquired 35.55 percent shareholding in Platinum Credit and was in the process of acquiring 73.35 percent shareholding in Genesis Kenya Investment Management.
“Since 2009, total assets have grown by 234 percent to Sh21.4billion, the total assets under our management have grown by 272 percent to Sh23.8billion and the Net Asset Value increased by Sh10.25billion to Sh16.1billion,” he said.
Market Capitalization also increased by 230 percent from Sh5.6billion in March 2009 to Sh18.6billion in October 2013.
Mworia said the company had met most of its strategic targets and will now be looking to launch its new 5-year strategic plan, 2014-2019.
“Several investment partnerships for various components of the Two Rivers Development including hospitals, hotels, apartments and offices are due to be completed,” he added.
He revealed that the second real estate development, Pearl Marina in Uganda will break ground in 2014 and plans to develop new lines of business in Energy and Agriculture are underway.