Centum Cuts Debt, Holds Dividend Despite 69% Profit Slump
Posted by Codekali
Centum Investment Company Plc reported a sharp decline in earnings for the year ended March 2025, with net profit tumbling 69% to KSh 812.8 million, from KSh 2.6 billion the prior year.
Jason Kint, the head of Digital Content Next, a trade group for content providers, said the case will fill in details about what the board knew - and when - regarding the data of users, who now total more than 3 billion daily across Meta's platforms. "There's an argument we can't avoid Facebook and Instagram in our lives," he said. "Can we trust Mark Zuckerberg?"
MOST DIFFICULT CLAIMS
Two years ago, the defendants sought to dismiss the case before trial, which the judge declined. "This is a case involving alleged wrongdoing on a truly colossal scale," said Travis Laster, the judge handling the case at the time. The trial in the Court of Chancery will be overseen by Kathaleen McCormick.
Centum continued reducing debt, repaying KSh 1.2 billion in investment acquisition debt, lowering the outstanding balance to KSh 690 million, down from KSh 1.9 billion the prior year. This contributed to a 32% reduction in finance costs and a net debt-to-equity ratio of just 1.5% as of March 2025.
Centum Investment Company Plc reported a sharp decline in earnings for the year ended March 2025, with net profit tumbling 69% to KSh 812.8 million, from KSh 2.6 billion the prior year.
Centum continued reducing debt, repaying KSh 1.2 billion in investment acquisition debt, lowering the outstanding balance to KSh 690 million, down from KSh 1.9 billion the prior year. This contributed to a 32% reduction in finance costs and a net debt-to-equity ratio of just 1.5% as of March 2025.