In Summary
  • Centum Investment Group half year profit to September more than quadrupled to Sh6.79 billion lifted by strong investment income mainly as result of net gains on disposal of three investments.
  • Group chief executive said private equity business booked net gains of Sh12 billion from the disposal of Almasi Beverages Limited, Nairobi Bottlers Limited and King Beverages Limited.
  • Centum Investment, however, returned a Sh1.6 billion loss compared to the preceding similar period’s profit of Sh929 million.

Centum Investment Group’s half-year profit to September more than quadrupled to Sh6.79 billion, lifted by strong investment income mainly as a result of net gains on disposal of three companies.

The performance, a contrast from Sh2.07 billion in a similar period last year, is higher than the bottom-line that the group has been returning year-on-year since 2016. This raises prospects of beating the Sh7.94 billion profit of 2015, which is the highest in the group’s history.

ASSETS

However, Centum Investment, which is listed on the Nairobi bourse, returned a Sh1.6 billion loss compared to the preceding similar period’s profit of Sh929 million. This was on account of Sh2.28 billion impairment provision on assets.

Group chief executive James Mworia on Friday said private equity business booked net gains of Sh12 billion from the disposal of Almasi Beverages Limited, Nairobi Bottlers Limited and King Beverages Limited, all of which were concluded within the reporting period.

This helped investment and other income to triple from preceding period’s Sh4.05 billion to Sh12.4 billion.

Mr Mworia said the Sh18.6 billion net proceeds from exiting Almasi and Nairobi Bottlers have been used to pay off dollar-denominated bank debt and revolving credit facilities as well as invest in marketable securities.

Page 1 of 2