The book publisher and marketer, Longhorn posted a 4% increase in revenue to KSh725 million in the half year period that ended on 31st December 2019. Despite the jump in revenue, the company’s net profit in the six months period remained flat. It posted a 0.1% increase in net profit to KSh69 million.
The company attributed the weak growth in profit to development costs for new products. Its revenue significantly grew due to improved sales in regional markets such as Tanzania and Uganda which posted 21% and 15% revenue jump.
Longhorn is a major Kenyan publishing company with susidiaries in Uganda, Tanzania, Rwanda, and Zambia. The company is tasked with producing school books for the new Competency Based Curriculum.
As of December 2019, Longhorn publishers had successfully distributed over 2.4 million copies of Grade 4 books through out the country.
The company expects improved performance in the second half of the year given the investment put in in the first six months.
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