Centum Posts Improved Annual Profit After Tax

centum

VENTURES AFRICA – Centum, an investment holding firm listed in Nairobi and Uganda bourses, this week revealed it had posted robust annual profits, thanks to an improved profit contribution from its associate firms.

The firm, which provides investors with access to portfolio of inaccessible and quality diversified investments, posted a 22 percent surge in profit after tax to Ksh 3 billion ($34.2 million) from Ksh 2.5 billion ($28.5 million).

Profits from these associate firms surged 49 percent during the period under review on the back of fair value increase in Centum’s investment property and improved income from its fund management businesses.

James Mworia, the Centum CEO, said the company had always posted market-beating returns in its five-year strategy.

Mworia said in addition, the firm had gained from a change in focus from being a “passive investor to active portfolio manager.”

“Over the five-year strategy period, the company had outperformed the NSE 20 share index performance by 19%. The company had also grown shareholder wealth by Ksh 19 Billion from Ksh 5.9 billion in 2009 to Ksh 22.9 billion this year. This is a growth of 288% over the period,” Mworia said in a statement.