Nation Media Group has recorded a 94% drop in profits from Ksh856 million in 2019 to Ksh48 million in 2020. The firm’s revenue shrunk from Ksh 9 billion in 2019 to Ksh 6.8 billion in 2020. A Kenyan reading the Daily Nation newspaper FileNMG’s net assets fell in value from Ksh12.1 billion at the end of 2019 to Ksh11.82 billion at the end of 2020. Television and digital revenue grew substantially while print advertising and circulation volumes showed signs of recovery. Going forward, Nation Media plans to focus on building on its digital transformation initiatives through further investment in journalism and diversification of digital products.

Source: Daily Nation April 29, 2021 06:00 UTC