Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Nation Media of Kenya Full-Year Profit Jumps 25% as Sales Climb

Nation Media Group Ltd., East Africa’s biggest publisher and broadcaster, said full-year profit jumped 25 percent as advertising revenue climbed.

Net income grew to 2.5 billion shillings ($29.2 million) in the 12 months through December, from 2 billion shillings a year earlier, Chief Executive Officer Linus Gitahi told reporters today in Nairobi, the capital. Sales rose 10 percent to 12.3 billion shillings, he said.

“Companies’ advertising budgets increased last year and in addition to the political advertising, revenue increased,” Ted Macharia, an analyst at Nairobi-based AIB Capital Ltd., said by phone. “They also turned around their units, particularly Tanzania.”

Nation Media earned 15.9 shillings a share while the median estimate was for 13.9 shillings a share, according to a survey of two analysts by Bloomberg.

Advertising spending in Kenya, East Africa’s largest economy, increased last year as economic growth accelerated to an estimated 4.5 percent from 4.4 percent a year earlier.

Shares in Nation Media Group have rallied 30 percent this year, compared with a 19 percent gain for the Nairobi Securities Exchange All-Share Index.

The company increased its dividend to 10 shillings a share from 8 shillings a year earlier and will offer a bonus share of one for every five held, Chairman Wilfred Kiboro told reporters in Nairobi today.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.