Kenya's TransCentury 2012 pretax profit rises 41 pct
NAIROBI, April 11
NAIROBI, April 11 (Reuters) - Kenyan investment company TransCentury said its full-year 2012 pretax profit rose 41 percent to 1.23 billion Kenyan shillings ($14.61 million), helped by consolidation of its business and increased sales.
Founded just over 11 years ago as an investment club, the firm has grown into a specialist infrastructure company with interests in power, transport and engineering due to rapidly growing demand for energy and infrastructure in the region.
It said its total revenues rose 26 percent to 13.49 billion shillings.
Basic earnings per share rose to 1.66 shillings from 1.32 shillings in 2011. It recommended a final dividend of 0.40 shillings per share, up from 0.25 previously.
TransCentury controls East African Cables and also invests in transport, with a shareholding in Rift Valley Railways, which manages the Kenya-Uganda rail system.
Transcentury said since 2011 it had invested almost $150 million in RVR, to rehabilitate tracks, overhaul locomotives and improve IT systems.
"The capital expenditure will result in a total of $287 million invested towards the rehabilitation of the railway assets, quadrupling current freight rail capacity from the port of Mombasa," it said.
Apart from Kenya, the firm also has operations in Uganda, Tanzania, Rwanda, Zambia, Ethiopia, South Africa and Zimbabwe. ($1 = 84.2000 Kenyan shillings) (Reporting by George Obulutsa; Editing by Helen Massy-Beresford)
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