Longhorn Publishers of Kenya Profit Jumps on Growth in Rwanda

Longhorn Kenya Ltd., the educational publisher that will be listed on the Nairobi Securities Exchange on May 30, said full-year profit surged more than fivefold to 136.3 million shillings ($1.59 million).

Sales jumped to 1.1 billion shillings in the 12 months through June 2011 from 526.9 million shillings a year earlier, the Nairobi-based company said in an e-mailed prospectus in Kenya’s capital today.

“This remarkable growth was attributed to huge export sales into the Rwanda market,” Longhorn said.

The company, which has units in Uganda and Tanzania, plans to issue 58.5 million shares at 14 shillings each. They will be listed by introduction, meaning Longhorn won’t raise new capital.

To contact the reporter on this story: Eric Ombok in Nairobi at eombok@bloomberg.net

To contact the editor responsible for this story: Paul Richardson at pmrichardson@bloomberg.net

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