Centum CEO James Mworia says the company’s good performance was driven by growth in the firm’s private equity and real estate business line.
“Our private equity team executed value creation strategies that created tangible wealth. The amalgamation of the Rift Valley, Kisii and Mt Kenya Bottlers for Almasi Beverages Limited was Centum driven and executed,” Mworia said during an investor briefing on Wednesday.
The firm’s investment income increased by 60 percent from Sh749 million to Sh1.2 billion.
In the period under review the group’s portfolio increased to Sh21.7 billion while Assets Under Management grew to Sh24.8 billion.
“The performance the investors have seen today is a function of different activities we have been carrying out in the last four and half years. We focused on diversifying the portfolio, developing new business lines and our associate companies continued to do very well,” Mworia said.
Total comprehensive income increased by 55 percent from Sh948 million to Sh1.5 billion.
The investment company is in the process of completing the acquisition of a 73.35 percent stake in Genesis Investment Management Kenya, subject to regulatory approvals.
Genesis currently manages a fund of over Sh100 billion for both Kenyan and international clients and is licensed both in Kenya and Uganda.
“We are in the final stages of completing this deal and we expect it to be done by December this year,” Mworia said.
Centum has also broken ground for the Two Rivers Project which it expects to be completed in 2015.
The company plans on converting the Two Rivers project in to a development Real Estate Investment Trusts (REITS) so as to raise funds for financing it.
Located on 100 acres in the diplomatic Blue Zone in Gigiri/Limuru Road area of Nairobi, Two Rivers will be a mixed use commercial development consisting of retail, leisure, offices and residential development.
The investment firm is also set to break ground for another real estate project “Pearl Marina” next year, which is located on 300 acres in the Garuga peninsular in Entebbe Uganda.
Pearl Marina is targeted to be a mixed use water front development with a blend of commercial, leisure, recreation, retail and residential activity that will be supported by an international school and a modern hospital facility.
Centum is also planning to enter in to the agribusiness and power sectors.