Longhorn Publishers' net profit increased to Sh67.8 million compared to Sh39.8 million a year earlier. PHOTO | FILE
Longhorn Publishers has announced a 70 per cent jump in after-tax profit for the six months ended December, powered mainly by a 56 per cent jump in turnover of the company.
The NSE-listed firm’s net profit increased to Sh67.8 million compared to Sh39.8 million a year earlier.
The performance was driven by a surge in sales to Sh831.3 million in the period.
“The company’s performance was largely driven by the success of the product diversification strategy which saw Longhorn increase its income streams,” the company said in a statement.
The Nairobi Securities Exchange-traded firm last year signed deals to print and distribute reference materials such as dictionaries, Bibles, hymn books and charts as it sought to reduce its reliance on textbook sales.
Longhorn is expected to raise Sh500 million through a rights issue in the coming weeks to fund its product and regional expansion plans.
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