NAIROBI, Kenya, Nov 16 – Centum Investments Company diversified portfolio strategy boosted the groups’ half year results registering a Sh2.1 billion profit for the period that ended September 30, 2016.
The Company deployed Sh5 billion in debt and equity capital expenditure during the 6-month period within its portfolio companies as assets grew by 10 percent during the period, to close at Sh56.7 billion.
The Group’s consolidated profit before tax grew by 23 percent from Sh2.2 billion in 2015 to Sh2.7 billion in September 2016.
The firms’ Chief Executive James Mworia says lower finance cost, as a result of reduced forex losses on US dollar denominated borrowings and capitalization of interest during construction of the Group’s real estate projects, also attributed to the profit.
“We have had a number of new subsidiaries, Longhorn (Publishers), Almasi, Sidian Bank and those have contributed to the bottom-line. We also had a healthy dividend income stream from the companies we do not directly consolidate,” Mworia explained.
The Net Asset Value per share increased from 13.8 shillings in 2010 to 61.12 shillings as at 30 September 2016, representing an increase of 343 per cent and a compounded annual growth rate of 22 per cent over the last seven years.
The firm has hinted it will exit in some of its investment with the move aimed at boosting the firms balance sheet going forward.