HF half-year profit up 2.2pc as sales slow and bad debts surge

Slower property sales and higher bad debts saw mortgage lender Housing Finance net profit increase by a marginal 2.2 per cent in the half-year ended June.

The firm’s net profit rose to Sh485.1 million in the period, about Sh10.7 million more than the earnings reported in the first six months of last year.