BY PETER ONDABU
This past Saturday, two of Kenya’s publicly listed media houses — Nation Media Group (NMG) and Standard Group (SG) — published reports of their performance in the six months to June 2018 in the Saturday Nation and Saturday Standard respectively.
The figures tell a story of mixed fortunes.
For instance in the section for cash generated from operating activities, Nation Media Group that has a presence in Kenya, Uganda, Tanzania and Rwanda raked in Sh820,100,000.
Standard Group, which is majorly in Kenya with strong products in radio, TV and newspaper, said that within the same period, its operations brought in Sh21,208,000.
When it comes to profit after tax for the fist half of 2018, NMG posted Sh529,200,000 while its competitor SG managed 126,043,000.
NMG’s half-year profit was way lesser than that made in the same period last year. In the fist half of 2017, the profit after tax was Sh819.8 million, meaning its profit had dropped by Sh290.6 million.
It is a different tale for SG. Its profit before tax for the first half of 2017 was Sh37.2 million and for the first half of this year, it is Sh126 million, an increase of Sh88.8 million.
While SG did not say much about the climate that led to the results, NMG said it had been hit hard by a Sh856 million debt that the Government Advertising Agency owes it.
Below are the results for your perusal.
Nation Media Group half-year results 2018:
Standard Group half-year results 2018: