Acorn reports 21pc growth in net profit

Acorn Holdings CEO Edward Kirathe (front left) and DFC CEO Scott Nathan present documents after signing a financing deal at the US Chamber of Commerce in Washington D.C. on May 24, 2024. [File, Standard]

The Acorn Student Accommodation Development REIT (ASA D-Reit) and the Acorn Student Accommodation Income Reit (ASA I-Reit) have reported a combined 21.4 per cent growth in profit after tax of Sh345 million for the six months to June this year compared to Sh284 million over a similar period last year.

Acorn Holdings, which is one of the largest developers of Purpose-Built Students Accommodation (PBSA) in the region, said it overcame a challenging macro-economic environment to post a strong performance over the period.