Crown Berger Kenya Limited has released its financial results for the year ended 31st December 2011. The firm, a recipient of ISO 9001: 2008 certification and a Superbrand status holder reported a 41.11% increase in net profits for the year ended 31st December 2011.
Sales improved by 25.59% to KES 3.854 billion, up KES 785 million from the previous year’s sales of KES 3.068 billion. The paint maker’s total assets increased to KES 2.215 billion for the year ended 31st December 2011, up KES 243 million from the previous year’s total assets of KES 1.972 billion. Profit before tax increased to KES 200.5 million, up 31 million (18%) from KES 169.5 million in 2010. The company’s profit after tax for the year improved by 41.11%, from KES 91.42 million in 2010 to KES 129 million in 2011.
The board of directors directors recommend a dividend of KES 1.25 per ordinary share held, subject to withholding tax where applicable and approval by the shareholders at the forthcoming AGM. The 55th Annual General Meeting of the shareholders will be held on 21st June 2012 at the Panafric Hotel in Nairobi from 11:00am.
Read more on Crown Berger and its new distribution partnership here.