BusinessHigher profit sets stage for the company to pay Sh798 million dividend to its shareholders. Investment firm Centum Group has recorded Sh7.4 billion after-tax profit for the year ended March 2020 - representing a 79 per cent jump earrings. In September 2019, the company paid off $75 million (Sh7.8 billion) of a US dollar-denominated debt. “This deleveraging will save Sh1.8 billion in annual finance costs, which will further enhance the company’s future performance and dividend payout,” Mworia said yesterday while releasing the results. The Centum Group boss acknowledged the tough reality of the global Covid-19 pandemic but said it was an opportunity for investments at “reasonably priced valuations” as economies recover.

Source: Standard Digital June 12, 2020 18:56 UTC