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Unga Group fiscal H1 profit climbs 42.4% YOY

Unga Group Ltd said its normalized net income for the fiscal first half ended Dec. 31, 2014, came to 2.32 Kenyan shillings per share, a gain of 42.1% from 1.63 shillings per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 175.7 million shillings, an increase of 42.4% from 123.4 million shillings in the prior-year period.

Total revenue grew 9.2% year over year to 9.65 billion shillings from 8.84 billion shillings, and total operating expenses climbed 8.2% from the prior-year period to 9.24 billion shillings from 8.54 billion shillings.

Reported net income rose 74.4% from the prior-year period to 258.4 million shillings, or 3.41 shillings per share, from 148.2 million shillings, or 1.96 shillings per share.

As of Feb. 27, US$1 was equivalent to 91.41 Kenyan shillings.