Longhorn Publishers see pretax profits slip
29 September 2014, 10:46
Nairobi - Book publisher Longhorn said on Friday pretax profit slipped 2.7 percent to 147 million shillings ($1.7 million) in the year through June, saying it faced heavy distribution costs as it sought to build its brand in regional markets.
The company said its strategy to boost export volumes, provide quality learning materials for schools and expand its product range would help sales growth and profitability in future.
Revenue in the year to June climbed 35 percent to 1.40 billion shillings, helped by exports to Malawi, Rwanda, Tanzania and Uganda, as well as sales in Kenya. Export sales amounted to 36.5 percent of total revenue, it said.
The company said it would pay a final dividend of 1.20 shillings per share.
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