Centum Real Estate Limited has posted a Sh43.1 million gross profit in six-months ending September 30 2022, boosted by sales of residential units.
In its latest unaudited interim financial results, the investment company sales profit grew to Sh178.65 million in the period from Sh135.5 million during the same period last year.
“Other comprehensive income reflects currency translation differences of our Uganda and Mauritian subsidiaries whose functional and presentation currencies are the Uganda shilling and US dollar respectively,” the firm said in its latest financial results.
Centum is Kenya’s and East Africa biggest developer of housing and office projects with investments in Kenya and Uganda.
Its investment portfolio includes Centum Development Kenya, Vipingo Development Limited, Pearl Marina Estates Limited (Uganda) and Development Management.
Some of its projects include the Riverbank, Loft Residences, Vipingo Development, Pearl Marina Estates, among others.
“The group also has investment property in Uganda. During the period, the Kenya Shilling strengthened against the Uganda shilling leading to currency translation losses when translating our Uganda Shilling denominated investment property,” it added.