TransCentury swings to Sh1 billion first-half pretax profit

NAIROBI, KENYA: TransCentury Limited said on Tuesday it swung to a Sh1.19 billion ($11.75 million) pretax profit in the first half of 2016 from a loss of Sh646.34 million in the same period the year before, helped by lower finance costs.

The company said in a statement its net finance costs fell to Sh202.2 million from Sh496.96 million, which helped offset a 20 percent drop in its revenues to Sh4.14 billion during the period ended June 30.