, NAIROBI, Kenya, Nov 26 – Centum Investment has recorded a 27 per cent increase in its net profit to hit Sh2.1 billion for the six-month period ended September 30.
Centum’s CEO James Mworia says the performance is despite a challenging operating environment.
The company’s private equity business recorded a Sh1.3 billion consolidated operating profit, marking a 300 per cent increase over the Sh513 million recorded during a similar period last year.
The company also made Sh1.2 billion in realised gains after the complete disposal of GenAfrica which helped the company achieve an Internal Rate of Return of 29 per cent.
On the company’s portfolio, total assets and Net Asset Value per share grew to Sh67.0 billion and Sh73.6 billion respectively, representing a compound annual growth rate of 20.6 per cent and 18.3 per cent respectively.
Consolidated dividend income received from portfolio companies where the group holds minority stakes also increased by 60 per cent.
Such companies include Sidian Bank whose non-funded income increased by 68 per cent compared to a similar period last year.
At the same time, Longhorn Publishers recorded a 168 per cent growth in profitability, driven by a strong top line performance.
However, the beverage business recorded lower volumes as a result of distribution chain disruptions during the heavy rains experienced in the first half of the year, resulting to a 2 per cent top line decline.
The real estate business recorded a fair valuation gain of Sh2.7 billion over the period.
According to Mworia, the valuation was supported by sale of land development rights during the period.