Centum Investment Company Plc has reported an after-tax profit of Sh2.5 billion for the fiscal year ending March 2024.
This represents a significant turnaround from the Sh9 billion loss recorded in the previous period, thanks to the improved performance and profitability of its subsidiaries.
The company’s investment portfolio grew by Sh6.1 billion, reaching a total of Sh66.5 billion. This growth aligns with Centum’s strategy of identifying attractive investment opportunities, adding value, and timing the monetization of these assets effectively. Retained earnings also saw an increase of Sh2.6 billion, bringing the total to Sh39 billion, which bolsters Centum’s financial position for future investments.
Centum Real Estate (Centum Re) contributed notably, with Sh3.7 billion in sales, a Sh3.6 billion rise in the fair value of investment property, and a Sh2.5 billion net profit.
In accordance with its dividend policy, which mandates payouts equivalent to 30 percent of total annuity income, Centum has proposed a dividend of Sh210 million (Sh0.32 per share) from the Sh692 million generated by its portfolio investments. Group CEO James Mworia emphasized that this performance marks a strong start to Centum’s 5.0 growth strategy, which aims to focus on value optimization over the next five years. He noted that the company is committed to scaling up its businesses, realizing their carrying values, and using the proceeds to enhance its marketable securities and boost annuity income.
