Longhorn Publishers records 4% increase in half year pre-tax profit
Longhorn Publishers has announced an unaudited result for half year period ended December 31, 2019 with a recorded increase of 4% increase in its pre-tax profit.
According to its unaudited results, the profit before tax grew from Ksh 90.1 million in the second half of 2018 to Ksh 92.2 million in the second half of 2019. This was driven by the significant rise in sales of products such as ‘Kamusi ya Karne’ and the Comprehensive Atlas due to the improvements made and aggressive marketing push over the last 12 months.
The sales volume of the competence-based curriculum products and the new secondary school revision encyclopaedias continued to rise boosting further the company’s performance in Kenya.
The company’s total assets also grew from Ksh2.3 billion in the first half of 2019 to 2.6 billion shillings in the second half of 2019.
The regional markets of Tanzania and Uganda also recorded revenue growth of 21 percent and 15 percent respectively. The total comprehensive income and net margins remained relatively flat from the prior period due to development costs for new products.