Centum of Kenya First-Half Profit Climbs on Investment Income
- Company shifted money from equities to cash as rates rose
- Earnings also buyed by revenue growth in banking, brewing
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Centum Investment Co. shares gained the most in more than a year after first-half profit surged as the company shifted money from equities to cash to benefit from high interest rates.
Net income rose 55 percent to 1.91 billion shillings ($18.7 million) in the six months through September, from 1.23 billion shillings a year earlier, Risper Mukoto, head of business services, told reporters Wednesday in the capital, Nairobi. The shares jumped 6.2 percent to 43 shillings, the most since October 2014.