Centum first-half pre-tax profit up 24 percent
14 November 2013, 13:33
Nairobi - Investment firm Centum said on Wednesday first-half pre-tax profit rose by nearly a quarter to 1.03 billion shillings ($11.96 million).
The company, which has investments in both listed and private firms, is diversifying into the fast-growing property sector, including shopping malls and housing estates.
It attributed the rise in profit to a 60 percent increase in its revenue to 1.20 billion shillings, thanks to an increase in dividends from firms it has invested in.
Centum's net asset value rose by 7 percent to 17.3 billion shillings, it said in a statement.
It said it was in the process of acquiring investment firm Genesis Kenya Investment, which manages assets worth 100 billion shillings.