Shares

Centum Investment Company PLC has announced that its full year pretax profit for the period ending March 2019 rose 41% to Ksh. 4.44 billion. This is a 41% increase from Ksh. 3.1 billion in the last financial period.

During the period, the company reports that it grew its asset base from Ksh. 28.8 billion to Ksh. 71.6 billion. The company raised Ksh. 10.2 billion through two corporate bonds and a Ksh. 7.5 billion bank term loan.

Sales in 2019 increased to Ksh. 10.8 billion from Ksh. 10.1 billion in 2018. Income from financial services and investment increased to Ksh. 14 billion from Ksh. 8 billion in the previous financial year. During the period, the company sold GenAfrica Asset Managers and realised an income of Ksh. 1.2 billion.

The company has announced that will sell their shareholding in Almasi Beverages Limited (ABL) and Nairobi Bottlers Limited (NBL) to Coca-Cola Sabco East Africa at a price of Ksh. 19.5 billion. Coca-Cola Sabco East Africa is a subsidiary of Coca-Cola Beverages Africa (CCBA). Centum currently owns 53.9% of ABL and 72.4% of NBL. The company will use the funds to settle loans of Ksh. 7.5 billion and will reinvest the rest of the funds.

The company plans, as part of its Centum 4.0 strategy, that commenced on April 2019 and that will run to March 2024, to streamline operations into 3 distinct business units namely; Real Estate, Private Equity and Marketable Securities. The target asset allocations for the three are 30-35% Real Estate, 35-45% Private Equity and 20-30% Marketable Securities.

The board of directors has recommended the payment of a dividend of Ksh. 1.20 per share for the financial year ended 31st March 2019.