NAIROBI, March 4 Kenya media company Standard
Group swung into profit in full year 2016 after posting
a loss the previous year, helped by falling operating costs and
slightly higher revenues, it said on Saturday.
Standard said in a statement that it made a pretax profit of
269.48 million shillings ($2.63 million) last year after losing
395.8 million shillings in 2015, while revenues were up 7
percent to 4.82 billion shillings.
Standard, which publishes newspapers, owns a radio and
television stations, websites and does outdoor advertising, said
total operating costs fell 6 percent to 4.41 billion shillings.
Its earnings per share rose to 2.14 shillings from a loss
per share of 2.95 shillings in 2015. Its board recommended that
no dividend be paid out to allow for more investments in its
($1 = 102.5000 Kenyan shillings)
(Reporting by George Obulutsa; Editing by Catherine Evans)