NSE Kenya listed firm Centum Investment has announced its first half of the year results, recording a 27% growth in net profit to Ksh2.08 billion mainly driven by an 85.8% jump in investment income to Ksh4.09 billion.
The firm’s private equity business reported a 300% profit growth due to improved performance from Sidian bank, Longhorn publishers and the completion of the disposal of GenAfrica Asset managers which realized a gain of Sh 1.2 Billion.
Its real estate unit which is currently comprised of Two Rivers development, Vipingo development and Pearl Marina development, gained traction with revenue potential for pre sales and land development sales at Sh 1.8 billion as at September 2018.
On other hand, marketable securities with a portfolio of Ksh3.5 billion realised investment income of Ksh130 million in the 1H19 period.
Centum Investments Group to raise between Ksh40 billion and Ksh50 billion in a fresh PE fund to cut finance costs from expensive borrowings. pic.twitter.com/SXxN37di7p
— Kenyanwallstreet (@kenyanwalstreet) November 27, 2018