Kenya's Standard Group profit down 8 pct in the first half - CNBC Africa

Kenya's Standard Group profit down 8 pct in the first half

Earnings

by Reuters 0

Kenya's Standard Group profit down 8 pct in the first half

The publisher of Kenya's second-largest daily, The Standard, operator of KTN TV and a radio station, blamed the year-on-year fall in profit on provisions for bad debts in its magazine distribution business.

The company said it was optimistic about achieving higher earnings in the second half.

Revenue rose 1.5 percent to 2.37 billion shillings buoyed by a 50 percent rise in income from its radio business and an 82 percent jump from its digital assets. Print advertising income grew 12 percent while income from television slipped to 380 million shillings, the company said.

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