Centum slash its half-year loss by 67%

Centum Investment slashed its half-year loss by 67 percent for the year ended September 30, 2021, to Ksh.662.1 million compared to Ksh.1.98 billion it recorded in the same period last year.

The performance has been attributed to the group’s increased revenues across its business lines.

Centum chief executive James Mworia says they are optimistic about the second half of the year based on  recovery plans across the various businesses.

He added that  the loss after tax was mainly driven by an impairment provision of.721 million on some of the assets following a prudent assessment.

In the period under review, Centum’s trading businesses returned a Ksh.255 million profit compared to Ksh.317 million loss recorded in the first half of 2020.

Centum Real Estate posted a Ksh.1.1 billion revenue from the sale of houses in six months to September 30, 2021.

The company’s revenue growth is attributable to strong sales that helped to record over Ksh.144 million gross profit from residential units in the first half of this year.

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