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Centum first-half profit up Sh2.39 billion

NEWS
By Reuters | November 26th 2018
Centum Investment CEO James Mworia

Centum Investment Co Plc said on Monday its first-half pretax profit surged 35 percent to Sh2.39 billion, aided by higher investments.

The firm, which invests in listed firms and private companies from beverage manufacturers, a commercial bank, publishing firm to property developers, said its investment income, for the period ended September, jumped to Sh4.09 billion from Sh2.25 billion.

Centum’s first-half pretax profit came in at Sh2.39 billion, compared with Sh1.77 billion in the same period a year ago.

During the first half, the company completed the sale of GenAfrica Asset Managers, which helped boosted income with a gain of Sh1.2 billion, Centum Investment said.

According to the company, its net asset value per share, a key measure of performance for investment firms, edged higher to Sh73.6 from Sh73.2 last year.

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