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Kenya's Centum H1 pretax profit soars 27 percent

By Reuters and Valentine Kondo | November 26th 2018
Centum CEO James Mworia. [Photo: Courtesy]

NAIROBI- Kenya’s Centum Investment Co said on Monday its first-half pretax profit surged 27 percent to Sh2.1 billion boosted by higher investment income.

The firm, which invests in listed firms and private companies from drinks makers to property developers, said its investment income, for the period ended September, jumped to Sh4.09 billion from Sh2.25 billion.

The investment company says that Sh1.2 Billion realized gains from complete disposal of GenAfrica achieving an IRR of 29%.

Its total assets rose to Sh67 billion from Sh66 billion closing the half year with a cash monetary balance of Sh1 billion.

Recently, Kenya Commercial Bank Group, Equity Bank and Kenya Power and Lighting Company released their profit after tax records for the year ended September 30, in which KCB recorded 19.63 percent profit after tax to Sh18.04 billion, Equity posted eight percent increase in pretax profit to Sh15.8 billion while KPLC recorded a 60 percent decline in pretax profits to Sh3billion.

Centum company has been undertaking an upgrade of Two Rivers in Nairobi, Pearl Marina Development in Uganda and Vipingo Development located at Kilifi.

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