The Nairobi Securities Exchange listed media house Standard Group has posted a profit before tax of Kshs. 180M for the six month period compared to Kshs.37M in the previous corresponding period – while its revenue was down by about 2% to Sh 2.398 Billion.
The total operating costs of the company fell by 8% to Sh 2.128 Billion. As expected, no dividend was declared.
“Key drivers of the above performance were efficiency and costs optimization for the Group. Direct cost, returned a saving of 8% mainly driven by better engagement with our suppliers on pricing and high quality production with minimal wastage.” the company noted.
In the full year period ended December 2017, the group’s revenues declined by 4% mainly due to reduction in print advertising revenue.
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