Centum Investments Plc has posted KSh6.8bn in net profit in the first half of 2019/20 driven by private equity and investment businesses.
The Group’s pretax profit increased to Ksh7.7 billion for the six-month period ended 30 September 2019 compared to Ksh2.4 billion in a similar period last year.
The Group realised a net gain of Ksh12 billion from the disposal of its stakes in Almasi Beverages Limited, Nairobi Bottlers Limited, and King Beverage Limited.
Speaking during the media briefing, Group CEO James Mworia said, “The proceeds have been applied towards paying off our US Dollar debt and local currency revolving credit facility.”
The company’s total assets decreased from Ksh71.6 billion between 31 March 2019 and 30 September to Ksh63.5 billion. Dr Mworia attributes the decline to debt repayment and other provisions.
Furthermore, the company’s operating profit recorded 49 per cent growth from Ksh992 million recorded last year to Ksh1.5 billion for the period ending September 30, 2019.
