Centum’s half year profit grew by 55.04% to KES 1.9 billion, up from KES 1.23 billion reported in September 2014. This was boosted by a 342% increase in investment and other income to KES 8.38 billion from KES 1.90 billion reported in September 2014.

The group’s asset base grew by 7.29% to KES 77.61 billion from KES 72.34 billion reported in the end of the financial year in March. This was mainly driven by a 23% increase in investment property.

The net asset value per share (NAV) increased by 8.54% to KES 52.10, up from KES 48.00.

The management said that due to economic changes such as ,high interest rates and weakening Kenyan shilling, they had taken proactive measures to ensure capital preservation and safeguard shareholders wealth. This also caused a changed to the company’s marketable securities portfolio where the company reduced listed equities from 70% to 25% and increased cash and fixed income from 20% to 68% of the portfolio.

For more information:

Centum Half-year results - Download

Centum H1 net profit up 55pc, costs rally - Business Daily