Scangroup has recorded a 34.7 per cent jump in net profit in the half year ended June. This follows a significant increase in sales.
The firm’s net profit stood at Sh249.6 million compared to Sh185.3 million a year earlier, with sales rising 10.9 per cent to Sh2.5 billion. operating expenses increased six per cent to Sh2.3 billion in the period compared to Sh2.2 billion the year before.
“As we continue to pursue growth in new markets outside Kenya we saw strong growth in Gabon, Nigeria, Uganda and Zambia,” Scangroup said Thursday in a statement that further added that 40 per cent of its revenue now comes from outside Kenya compared to 34 per cent last year and 30 per cent in 2014, indicating that its Pan African expansion is helping to reduce reliance on the local market.
