Kenyan investors see significant boost in profits

29/03/2011 - Kenya property & investment news Posted by Neil King
Kenyan investors see significant boost in profits

A Kenyan investment firm has recorded a significant pre-tax profit level.

TransCentury saw its profits rise by 20 per cent in 2010 thanks to sales growth from the firms that it has invested in.

The firm has assets totalling 11.2 billion shillings and recorded a profit of 630.58 million shillings after revenue jumped up by 25 per cent, Reuters Africa reported.

Investment in Kenyan infrastructure and manufacturing and engineering firms has helped the company to achieve its substantial profits.

In a statement the firm said: "The year saw continued real estate development largely by the private sector, fuelling demand for ... copper cables."

Sales of aluminium cables and transformers were also driven by investment in the utilities sector, the company remarked.

TransCentury has appointed advisers to continue its work into this year and to advise regarding its listing on the stock market.

This follows a special shareholder meeting held last month, during which it was decided to list the company subject to regulatory approval.ADNFCR-2019-ID-800479660-ADNFCR