CENTUM posts 38% jump in net profit

CENTUM investments is a firm that has successfully transited from a private equity firm to a full fledged financial services provider. This transition is bringing with it huge benefits for CENTUM- It has posted a 38% jump in net profit to Sh 1.2 Billion for the six months from March 2014.

The growth and rise in profits was driven by CENTUM’s 58% jump in investment income which grew from Sh 1.2 Billion for the same period last year to Sh 1.9 Billion this year.

Centum increased its shareholder funds by Sh 14 billion during the half year to Sh 44.6 Billion while its assets under management rose by Sh 22.5 Billion to Sh 175.7 Billion.

The firm has even more ambitious targets. Its planning to tap real estate trust rates in its property projects, among them Two Rivers project. It has also completed its acquisition of 67.54% stake in K-Rep bank. Centum is also making a foray in to the energy sector; its a lead financier of a 70 Megawatt Olkaria Geothermal power project that will be online in December 2016.

Centum also won a tender to develop a 960 Megawatt coal project in Lamu.

These projects are part of CENTUM’s 2014- 2019 strategy which will include investments in Agriculture, Health and Education, fast moving consumer goods, ICT and financial services.