NAIROBI, Kenya, May 28 – TransCentury PLC has posted a net profit of Sh580 million for the full year ending December last year, an improvement from a loss of Sh3.2 billion recorded during a similar period in 2023.
The Nairobi Securities Exchange-listed infrastructure investment company links the recovery to revenue growth, margin expansion, cost containment, balance sheet clean-up, and prudent foreign currency exposure management.
“As the Board, we are proud of the decisive actions taken to return the Group to profitability and restore stakeholder confidence,” TransCentury PLC Group Chairman Shaka Kariuki said.
“Our stakeholders have been supportive and patient in our turn around journey and we assure them that we are actively working to resolve outstanding debt issues with our main lender amicably positioning the business for sustainable growth,” he added
On the other hand, the Group CEO Ng’ang’a Njiinu stated that TransCentury’s revenue growth continues to be driven by strong brand positioning, steady demand across core business segments, capital allocation prioritization to demand fulfillment, and market deepening initiatives.
“The return to profitability is not just a financial milestone but also testament to the resilience of our people and business, the robustness of our strategy, and our unwavering commitment to sustainable value creation,” he said.
“Our next steps are focused on capitalizing on the significant growth opportunities we have created to scale up, capital structure optimization and continued balance sheet improvement.”
