The majority of Nation Media Group’s business divisions have posted financial growth in the six months to June this year as noted in the media conglomerate’s half-year financial results announced during an investor briefing held this afternoon.
Nation’s official unaudited statements show that the Group’s pre-tax profit has risen 23.4 percent in the six months to June this year to 1.37 billion shillings from 1.11 billion shillings in the same period last year. Revenue has also edged up by 696 million shillings to 5.84 billion shillings up from 5.14 billion shillings last year.
The Nation Newspaper division posted a 15 percent increase in pre-tax profit while advertising revenue grew 9 percent from the same period last year. Meanwhile, the East African and Business Daily Newspapers both recorded 20 percent growth in advertising revenues, with the former’s operating profit growing 190 percent and the latter’s by 7 percent compared to June last year.
In the Television Divisions, NTV Uganda’s operating profit grew 777 percent in its fifth year of operation while NTV Kenya’s revenue grew 6 percent in the period.
Advertising revenues in Nation’s Radio Segment also grew 10 percent while Nation Digital, the online version of the Daily Nation, grew its operating profit and revenues by 116 and 54 percent respectively from the same period last year.
Nation Media Group is publicly traded at the Nairobi Securities Exchange and has increased its interim dividend provision by 67 percent in news that could boost the share which has gradually edged up this year from trading at 134 shillings per share in early January to 178 shillings at the close of trading today. Last Friday the share closed at its highest since 2009 at KES 179.00 per share.