Britam plans Sh3b serviced apartments as net profit nearly triples

Britam Group Managing Director Benson Wairegi during an investors’ briefing yesterday. [PHOTO: ELVIS OGINA/STANDARD]

Britam is planning a Sh3 billion serviced apartment project before the end of year with an increased focus to diversify income streams.

The firm revealed its development plans after announcing the half year results yesterday, where net profits nearly tripled to Sh1.77 billion, driven by a sharp rise in investment income.