Centum Investments Financial Statements: Centum Investment Plc has slipped into loss-making territory. The firm whose single largest shareholder is Chris Kirubi has posted profit after tax loss Sh. 1.98 billion for the six months to September 2020. This was a radial about turn from the consolidated profit of Sh. 6.9 billion it recorded in the same period the previous year.
This decline was largely on account of a significant 97 percent drop in investment income to Sh. 433 million compared to the prior period’s investment income which stood at Sh. 12.4 billion following a gain in disposal of Centum’s investments in Coca Cola’s bottling business in Kenya. Centum Group sales drop from Sh. 4.77 billion to Sh. 294.8 million.
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The firm’s private equity business booked a net loss of Sh. 1.2 billion in contrast with a net profit of Sh. 8.4 billion that had been made in preceding similar period.
“The six-month period to 30 September 2020 was an extremely challenging one against a backdrop of Covid-19 and the economic uncertainty and disruption to business that it occasioned,” chief executive officer James Mworia said.
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He added that the firm would be accelerating its rel estte ventures. “Centum Real Estate will continue to pursue a sales-led development process and monetization of land bank,” he said in the Centum Investments financial statements.