June 13, 2018 / 4:19 AM / a year ago

Kenya's Centum Investment FY pretax profit falls 64 pct

NAIROBI, June 13 (Reuters) - Kenya’s Centum Investment Company said on Wednesday its full-year pretax profit dropped 64 percent to 3.15 billion shillings ($31.16 million), hurt by lower property valuation gains and a delay in recognising gains from the sale of one of its businesses.

In May, Centum had said its earnings would also be affected by the fact that it had not recognised realised gains on the disposal of one of its businesses, GenAfrica Asset Managers, whose transactions were signed in the year to end-March but which had not been finalised by March 31. Those gains will reflect in the financial year to end-March 2019. ($1 = 101.1000 Kenyan shillings) (Reporting by George Obulutsa; Editing by Sunil Nair)

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