NAIROBI, March 21 Kenyan media company Standard
Group posted a 13 percent rise in pretax profit for
2013 on the back of sharp growth in print and TV advertising
The publisher of Kenya's oldest and second-largest daily
paper, The Standard, and an operator of a radio and TV station,
said profit before tax climbed to 300.7 million shillings ($3.48
million) on revenue up a third at 4.82 billion shillings.
The company said it would pay a final dividend of 0.50
shillings per share, having not made a payout the previous year.
Standard Group also said that the government's planned
phasing out of analogue TV had dented profit, with impairments
against analogue equipment.
Kenyan media houses have been pushing for a delay to the
switch to digital TV, saying the market is not yet ready.
Despite growing usage of the Internet in Africa, traditional
media such as newspapers remain profitable.
Standard Group's bigger rival Nation Media Group
this week posted a small rise in pretax profit that was curbed
by a jump in operating costs.
($1 = 86.4500 Kenyan Shillings)
(Reporting by Richard Lough; Editing by James Macharia and