Longhorn publishers have recently posted their full-year results. Longhorn reported revenue of Ksh1.6 billion a 5% decline from the previous year. This decline was attributed to the decline in government spending on textbooks. The gross profit declined by 1.2% from KSh915 million in the previous year to KSh905.8 million.
The profit before tax was reported to be Ksh263.97 million compared to Ksh 273.15 million in the previous period which was a 3.36% decline.
The profit after tax was Ksh185.13 million compared to the previous period which was KSh183.60 million which was a 0.83% increase. This was due to the operational efficiencies in the company.
Longhorn continues with its goal of growing its digital product and expansion into Francophone countries and wish to get into strategic alliances. There was also a payment of a final dividend of Ksh 0.52 per share. This was in line with the approval by the shareholders at the 2019 Annual General meeting.