Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  NAIROBI STOCK EXCHANGE  >  Centum Investment Company Plc    ICDC   KE0000000265

CENTUM INVESTMENT COMPANY PLC

(ICDC)
SummaryNewsCalendarCompany 
News SummaryMost relevantAll newsOfficial PublicationsSector news

Centum Investment : profit jumps to Sh4.12bn as land revalued

share with twitter share with LinkedIn share with facebook
share via e-mail
0
06/12/2019 | 03:44pm EDT

Centum Investment Company PLC #ticker:ICDC booked 48 percent jump in net profit to Sh4.12 billion for the financial year ended March 2019, partly boosted by capital gain and land revaluations. Investment and other income grew 72.5 percent to Sh9.8 billion from Sh5.7 billion achieved in the previous year, with CEO James Mworia attributing this to strong performance in overall business as well as the one-off gains. “We made some portfolio exits like in GenAfrica which closed this year. Also, land sales from real estate side and revaluations on property business contributed to the rise,” said Mr Mworia. The performance was a recovery from a dip in the previous financial year that saw the company issue a profit warning citing lower asset valuations and political uncertainty. In the period under review, Centum booked Sh1.2 billion gain following the sale of 73.4 percent stake in asset manager GenAfrica to Kuramo Capital. Its real estate portfolio saw a Sh3.3 billion gain in fair value thanks to underlying development activities and sales. “During the year, we closed a number of development rights sales in our land banks at valuation multiples that are several times our book carrying value,” the firm said. This compensated for a fall in investment income from Sh3.5 billion to Sh3.2 billion due to lower interest income and reduced dividends that resulted after the deal. The group’s beverage business saw a three percent decline in revenue while the banking subsidiary, Sidian bank, was on a rise due to 44 percent jump in non-funded income. Centum had recapitalised the bank through a Sh1.2 billion rights issue.

(c) 2019 Nation Media Group. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on CENTUM INVESTMENT COMPANY
06/12CENTUM INVESTMENT : profit jumps to Sh4.12bn as land revalued
AQ
06/12CENTUM INVESTMENT : profit jumps to Sh4.12bn as land revalued
AQ
06/12CENTUM INVESTMENT : to sell Sh19.5bn stake in beverage firms
AQ
01/15CENTUM INVESTMENT : set to resume geothermal exploration
AQ
2018CENTUM INVESTMENT COMPANY PLC : Annual results
CO
2018CENTUM INVESTMENT COMPANY PLC : Slide show results
CO
2018CENTUM INVESTMENT COMPANY PLC : Annual Report
CO
2018CENTUM INVESTMENT COMPANY PLC : Institutional report
CO
2017CENTUM INVESTMENT COMPANY PLC : Slide show half-year results
CO
2017CENTUM INVESTMENT COMPANY PLC : Half-year report
CO
More news
Chart CENTUM INVESTMENT COMPANY PLC
Duration : Period :
Centum Investment Company Plc Technical Analysis Chart | MarketScreener
Full-screen chart
Managers
NameTitle
James Mwirigi Mworia Chief Executive Officer, MD & Executive Director
Donald Kaberuka Chairman
Samuel Kariuki Group Finance Director
Christopher John Kirubi Non-Executive Director
Laila Macharia Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
CENTUM INVESTMENT COMPANY PLC214
BLACKROCK INC.17.97%64 884
UBS GROUP-7.11%44 210
BANK OF NEW YORK MELLON (THE)-8.48%41 221
CHINA CINDA ASSET MANAGEMENT CO LTD-4.19%24 407
STATE STREET CORPORATION-11.64%20 897