• About Hisa Technologies
  • Advertise
  • Careers
  • Contact Us
  • Estate Cloud
Sunday, February 5, 2023
  • Login
  • Register
No Result
View All Result
NEWSLETTER
Kenyan Wallstreet
  • Home
  • News
    • Kenyan News
    • African News
    • Global News
  • Business
    • Agriculture
    • Banking
    • Aviation
    • Energy
    • Manufacturing
    • Markets
    • Technology
    • Startups
  • Money Matters
  • Podcast
  • Videos
  • Digital Assets
  • Calendar
  • Home
  • News
    • Kenyan News
    • African News
    • Global News
  • Business
    • Agriculture
    • Banking
    • Aviation
    • Energy
    • Manufacturing
    • Markets
    • Technology
    • Startups
  • Money Matters
  • Podcast
  • Videos
  • Digital Assets
  • Calendar
No Result
View All Result
Kenyan Wallstreet
No Result
View All Result

Nation Media FY 2019 Earnings decline 18.5% to KSh 856 Million

Jackson OkothbyJackson Okoth
April 20, 2020
in Kenyan News, Markets
Reading Time: 2 mins read
Nation Media Group

Nation Media Group recorded a fall in net earnings to KSh 856 Million down from KSh 1.1 billion the previous financial year.

Turnover also declined to KSh 9.1 billion in 2019 from KSh 9.7 billion the previous year. Gross Profit declined from KSh 1.6 billion to KSh 1.3 billion during the period under consideration.

Total comprehensive income declined to KSh 826.6 Million from KSh 1.1 billion. Directors of the media house attribute this poor performance to higher prices of newsprint and a reduction in advertising spend due to an adverse business environment.

Fj8qeFoXkAEPAzj
ADVERTISEMENT

Turnover and total comprehensive income declined by 6.3 per cent and 20.7 per cent respectively as Nation Media Group struggled to maintain efficiency and productivity. The Group says its making extensive investments in innovation to grow new revenue streams.

Directors have recommended a bonus share issue of one share for every 10 held in the capital of the company. These new shares will not qualify for payment of any dividend for the year 2019.

The firm’s balance sheet size grew from KSh 4.8 billion to KSh 5.2 billion.

In its outlook, NMG board says it is planning to undertake key interventions in the print media arena, to ensure it maintains its dominance in this segment.

Nation Media Group is among traditional players who are finding it tough to compete in a rapidly changing media landscape, including a decline in print media channels.

How has coronavirus affected newspapers in Africa?

A recent analysis by inkjournalism.org notes that with most African countries under lockdowns, curfews, as well as “state of emergencies, the daily and weekly production patterns of newspapers, have been disrupted. Fewer and fewer newspapers are published during this time of crisis. This can only mean that with people unable to get out of their homes to buy newspapers, and with advertising revenue falling precipitously, the newspaper industry on the continent is staring death in the face.” 

RELATED:

Nation Media Group half-year profits down 24% to KSh 403 million


Previous Post

150 Million Jobs in Africa at Risk Due to COVID-19

Next Post

COVID-19 Support Available for Businesses in Kenya

Related Posts

Flutterwave Raises $250 Million in Series D Funding

Kenyan Govt Drops charges of financial impropriety against Flutterwave

February 5, 2023
NSE

NSE Amends Trading Regulations to Accommodate Block Trades

February 5, 2023

Unlock Global Investment Opportunities at Amalga’s 1st Africa Investors summit – Nairobi

February 3, 2023

Kenya to Begin Exporting High Value-added Tea to Australia

February 2, 2023

Mawingu Secures KES 1.12 Billion to Expand Fixed Internet Services

February 2, 2023

Esther Masese Waititu Appointed as Chief Financial Services Officer

February 1, 2023

June Chepkemei Appointed as KenInvest’s Acting Managing Director

February 1, 2023

CBK Expects Stable Foreign Exchange Market on Favorable External Deficit

February 1, 2023
Load More
Next Post
Kenya Map 1

COVID-19 Support Available for Businesses in Kenya

Follow Us

  • 163.1k Followers
  • 3.6k Subscribers
  • 1.2k Followers

WhatsApp

Subscribe

Telegram  

Subscribe

Podcasts

Upcoming Events

There are no upcoming events.

View Calendar
Add
  • Add to Timely Calendar
  • Add to Google
  • Add to Outlook
  • Add to Apple Calendar
  • Add to other calendar
  • Export to XML

Featured

No Content Available

About Us

We are a leading integrated digital content platform providing in-depth business and financial news across Sub-Saharan Africa & the globe. Kenyanwallstreet.com is a property of Hisa Technologies Ltd, a financial media & software company.

Contact Us

Kenyan Wall Street
Email: [email protected]
Website: www.kenyanwallstreet.com

Disclaimer

The information contained in this website is for general information purposes only.
Read more..

  • About Hisa Technologies
  • Advertise
  • Careers
  • Contact Us
  • Estate Cloud

Copyright 2021. Hisa Technologies. All Rights Reserved.

No Result
View All Result
  • Home
  • News
    • Kenyan News
    • African News
    • Global News
  • Business
    • Agriculture
    • Aviation
    • Banking
    • Energy
    • Infrastructure
    • Insurance
    • Investment
    • Manufacturing
    • Markets
    • Public Policy
    • Real Estate
    • Startups
    • Technology
  • Podcast
  • Videos
  • Events

Copyright 2021. Hisa Technologies. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In