• Money & Markets
Wednesday, August 10, 2022
  • Login
No Result
View All Result
NEWSLETTER
Money & Markets
18 °c
Nairobi
18 ° Fri
18 ° Sat
18 ° Sun
18 ° Mon
  • News
  • Big Read
  • Markets
  • Economy
  • Investing
  • Energy
  • Opinion
  • Africa
  • World
  • News
  • Big Read
  • Markets
  • Economy
  • Investing
  • Energy
  • Opinion
  • Africa
  • World
No Result
View All Result
Money & Markets
No Result
View All Result
Home Headlines

Transcentury cuts losses by 34.1 percent

by Editor
June 12, 2020
in Headlines, Highlights, News
0 0
0
Transcentury cuts losses by 34.1 percent
0
SHARES
21
VIEWS
Share on FacebookShare on Twitter

Listed investment firm, Transcentury, has cut its loss making by 34.1 percent according to financial results for half year 2018.

Loss for the period dropped to Sh684.8 million from Sh1.04 billion reported in a similar period in 2017, the results sent to Nairobi Securities Exchange (NSE) today show.

Transcentury said in a commentary accompanying the results that the drop in loss making was a result of gross profit margin improvement from 14 percent in 2017 to 27 percent in the period under review and 20 percent reduction in operating costs, saving Sh169 million.

The firm also highlighted traction in its turn-around strategy with Sh74 million profits from operations (EBITDA) compared to loss of Sh441 million reported in a similar period last year and positive cash generated from operations of Sh217 million resulting from improved performance and focused working capital management.

The firm said the completion of company debt restructuring in the second quarter resulted in reduction of finance cost by Sh48 million at Company level, and overall drop of 12 percent at Group level.

Tags: Transcentury
Editor

Editor

Next Post
CBK failure to release Imperial Bank financials adds more pain to depositors

Njoroge seeks patience on Imperial Bank, KCB deal

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *




Latest Articles

  • PwC and KBA have released the Kenyan Banking Sector Total Tax Contribution report
  • Fresh Kenyan Avocados sold at the largest fruit market in East China
  • Safaricom unveils ‘Tuinuane’ Brand Campaign.
  • Mozzart Bet to sponsor the national women volleyball team Malkia strikers
  • Mozzart Bet unveils Nandi Road Race sponsorship
  • Shift Towards Domestic Tourism a Game Changer in Post-Covid-19 Recovery
  • Equity Bank has been feted as the Best Bank in Kenya in the 2022
  • Kenya Academy of Sports 2nd International Sports Conference begins in Nairobi
  • Kodris Africa officially unveiled in Kenya as Government adopts new content for teaching coding for schools
  • KCB Shareholders approve Ksh 9.64B  dividend payout.  

TOP SEARCHES

acquisition AfDB Airtel Banks brexit CBK Central Bank Central Bank of Kenya China COVID-19 dividends energy Equity Bank Equity Group Equity Group Holdings Finserve High Court ICT Imperial Bank Insurance interest rates Jambojet Jumia KCB KDIC KenGen Kenya Kenya Airways KRA M-Pesa MD mKey MPesa NSE Patrick Njoroge profit profits Safaricom Safaricom foundation shareholders shares SMEs StarTimes Tanzania Uhuru Kenyatta




  • Money & Markets

© 2020

No Result
View All Result
  • Money & Markets

© 2020

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In