Kenya's Scangroup says annual profit dips after 2013 accounting gain

Kenyan advertising firm Scangroup posted a 5.2 percent fall in pretax profit last year to 912 million shillings ($10 million), but said an accounting gain in 2013 masked a significant improvement in its performance.

The company, majority-owned by advertising and marketing group WPP, said the accounting gain contributed 624 million shillings to its restated 2013 pretax profit figure of 963 million shillings.

Revenue rose 33.5 percent to 5.1 billion shillings last year and Scangroup said it was "confident that business will continue to show growth during 2015".