× Business BUSINESS MOTORING SHIPPING & LOGISTICS DR PESA FINANCIAL STANDARD Digital News Videos Health & Science Lifestyle Opinion Education Columnists Moi Cabinets Arts & Culture Fact Check Podcasts E-Paper Lifestyle & Entertainment Nairobian Entertainment Eve Woman Travelog TV Stations KTN Home KTN News BTV KTN Farmers TV Radio Stations Radio Maisha Spice FM Vybez Radio Enterprise VAS E-Learning Digger Classified Jobs Games Crosswords Sudoku The Standard Group Corporate Contact Us Rate Card Vacancies DCX O.M Portal Corporate Email RMS
×

Cytonn reports Sh630m net profit

NEWS
By Dominic Omondi | August 27th 2016
Cytonn Investments has reported a Sh630 million in net profits following a strong performance in its real estate investments. During its Annual General Meeting held on Friday, the investment firm also announced a 42.7 per cent return on equity in a period that saw it diversify its real estate investments. PHOTO: VOURTESY

Cytonn Investments has reported a Sh630 million in net profits following a strong performance in its real estate investments. During its Annual General Meeting held on Friday, the investment firm also announced a 42.7 per cent return on equity in a period that saw it diversify its real estate investments.

"Our strategy to focus on the attractive alternative investment opportunities, which exist in Kenya and the region, drove our performance,'' said Edwin Dande, Cytonn's Chief Executive Officer. "Our focus on real estate, private equity and structured products has delivered attractive returns to our shareholders, clients and partners.

The balance sheet remains strong with total assets at Sh6.5 billion and after tax profit of Sh630.8 million, which have justified our investment strategy," added Dande.

Mr Dande said their growth was buoyed by the firm's strong partnerships which have seen it work with Taaleri of Finland. The firm currently has total investment portfolio of 14 developments and Sh73 billion of projects under mandate.

"With over 1,200 acres under development, combined with a strong private equity pipeline, we are confident that with our unique strategy of coupling supply and demand will be a catalyst for growth in the market," said Elizabeth Nkukuu, Cytonn's Chief Investment Officer.

Share this story
Fusion Capital fails to raise Sh2.3b from public
Fusion Capital failed to raise Sh2.3 billion it targeted from its Development Real Estate Investment Trust (D-REIT). The firm also achieved a 38 per cent subscription collecting Sh873 million with only four investors against the requirement of seven.
Dog walking becomes the newest hustle in town
Dog walking is now a status symbol. Owning a pet is cool. I nowadays meet lots of Kenyans and foreigners walking their dogs and some running.
.
RECOMMENDED NEWS
Feedback