Nation Media net profit up 11%, regional units improve
By Erina Lin, Thursday 21 August 2008 at 19:05 :: General - Newspaper Data :: #2146 :: rss
Nation Media Group, the largest newspaper publisher and broadcaster in east Africa, has reported its first-half profit is up 11 percent, Bloomberg reported.
The increase was mostly due to an improved performance by its regional subsidiaries, as well as reduced costs, according to a company statement released Thursday.
Net income rose to 503.6 million shillings (US$7.33 million) in the six months ending June 30, up from 455.4 million shillings one year earlier. Revenue was up 8 percent to 3.8 billion shillings, according to Bloomberg.
According to the statement, prospects in the second half “look promising” as the company focuses more on growth in its digital, newspaper and broadcasting interests, Bloomberg reported.
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