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Unga Group posts fiscal H2 profit

Unga Group Plc said its normalized net income for the fiscal second half ended June 30 came to 100.2 million shillings.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

Total revenue came to 9.22 billion shillings, and total operating expenses came to 9.00 billion shillings.

Reported net income totaled 112.9 million shillings, or 1.49 shillings per share.

For the year, the company's normalized net income totaled 3.66 shillings per share, a gain of 60.2% from 2.28 shillings per share in the prior year.

Normalized net income was 277.0 million shillings, an increase of 60.2% from 172.9 million shillings in the prior year.

Full-year total revenue increased 5.4% on an annual basis to 19.74 billion shillings from 18.72 billion shillings, and total operating expenses rose 6.1% year over year to 19.03 billion shillings from 17.94 billion shillings.

The company said reported net income rose 58.0% on an annual basis to 327.0 million shillings, or 4.32 shillings per share, in the full year, from 207.0 million shillings, or 2.73 shillings per share.

As of Nov. 10, US$1 was equivalent to 101.65 Kenyan shillings.