Longhorn sees pretax profits slip

Nairobi; Kenya: Local bok publisher Longhorn said pretax profit slipped 2.7 per cent to Sh147 million ($1.7 million) in the year through June, saying it faced heavy distribution costs as it sought to build its brand in regional markets.

The company said its strategy to boost export volumes, provide quality learning materials for schools and expand its product range would help sales growth and profitability in future.

Revenue in the year to June climbed 35 per cent to Sh1.40 billion, helped by exports to Malawi, Rwanda, Tanzania and Uganda, as well as sales in Kenya. Export sales amounted to 36.5 percent of total revenue, it said.

The company said it would pay a final dividend of Sh1.20 per share.