Nation Media profit tops Sh2bn

Nation Media Group’s full-year net profit touched Sh2.0 billion up from Sh1.5 billion in 2010, the result of growth in advertising for some of its media channels.

The Group’s turnover increased by 17.1 per cent to Sh11.2 billion, while the profit before tax grew 30.9 per cent to Sh2.8 billion, up from Sh2.1 billion in 2010.

According to a statement from the Company Secretary, JC Kinyua, the impressive results are due to market share growth and revenues from regional subsidiaries. The company announcing a sh6.50 per share final dividend for the year.

Together with the interim dividend of Sh1.50 per share paid on September 30, 2011, makes a total of Sh8 per share for the year under review. The company will hold an Annual General Meeting at the Kenyatta International Conference, amphitheatre on Friday April 27.