× 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
×

TransCentury swings to Sh1 billion first-half pretax profit

NEWS
By Reuters | August 30th 2016

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.

TransCentury, established as an investment club in 1997 by a group of wealthy Kenyans, mainly focuses on electrical equipment and engineering work and also has operations in Tanzania, Democratic Republic of Congo, Zambia and South Africa.

"The group is poised to report improved performance in the second half of the year as we continue on a growth trajectory with a growing order book in our power division," it said.

"In our power division, we see a strong demand in our primary markets with continuation of electrification programmes and development of infrastructure projects in the region."

TransCentury's earnings per share rose to Sh4.97 from a loss per share of Sh2.16 in the same period in 2015.

Share this story
Scientists find Earth-like planet circling sun's nearest neighbor
Scientists have discovered a planet that appears to be similar to Earth circling the star closest to the sun, potentially a major step in the quest to find out if life exists elsewhere in the universe, research published on Wednesday showed.
Survey: Why 40 pc of workers want to quit their jobs
More than half of 18 to 25 year-olds in the workforce are considering quitting their job. And they are not the only ones.
.
RECOMMENDED NEWS
Feedback