Centum Investment Company recorded a Kes 2.5 billion profit after tax for the full year ended March this year, compared to a net loss of Kes 9 billion during a similar period.
Centum Group Chief Executive Officer (CEO) James Mworia attributed the growth to improved performance and profitability of investee companies.
He also said the performance signals a strong start to the Centum five-year growth strategy focusing on value optimization.
“The operating environment has been volatile, and while this could persist in the short term, we believe that pockets of opportunities exist that can be maximized through an active investment strategy to optimize and monetize the portfolio value.”
Further, Centum’s investment portfolio increased by Kes 6.1 billion in the year to Kes 66.5 billion, while the retained earnings also hiked by Kes 2.6 billion to Ks 39 billion.
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Centum Real Estate (Centum Re) was a star performer in the year, generating Kes 3.7 billion in sales, a Kes 3.6 billion uptick in the fair value of investment property, and Kes 2.5 billion in net profit.
As a result, the company has proposed a payout of Kes 210 million (Kes 0.32 per share) in dividends from the Kes 692 million the business generated from its portfolio investments.
“Financial year 2023/24 marked the close of the Centum 4.0 strategy period. We believe that the core objective of preservation of shareholder value in the face of economic headwinds was largely achieved."
“As we transition into the new strategy period named Centum 5.0, our focus is on optimization of the value of the current portfolio of investments. We are working towards scaling up the various businesses and monetizing them to realize a minimum of their carrying values.”
