Longhorn Publishers recorded a 45% growth in after tax profits for its full year ending 30th June 2016 to stand at KES 104 million compared to KES 71 million in the previous year. The company’s revenues shot by an impressive 77.2% to KES 1.5 Billion compared to 848 Million posted in a similar period. The company attributes the turnover growth due to a good uptake in referenced products.
In regard to the company’s strategy of product and geographical diversification, the company managed to secure distributorship rights of key products from Cambridge University Press, Bible Society of Kenya, Biblica Kenya, Scripture Union of Kenyan and Educat of South Africa.
The export market showed resilience and contributed to 26% of the revenues earned. Zambia, Malawi and Rwanda recorded the highest sales.
The Board of Directors recommended a final dividend of KES 0.35/Share
longhorn Publishers Limited Audited-full-year-results-for-the-period-ended-30th-june-2016.pdf
In the markets Longhorn closed the week’s session at KES 5.35/share. The share price swinged up by 9.18% after the results were announced. (See YTD chart below)
Sources: (Longhorn Publishers, Kenyan WallStreet, Financial Times)
