Longhorn’s Net Profit Remains Flat as Revenue Moves Up 4%

A 4% increase in revenue to KSh 725 million in the half year period that ended on 31st December 2019 was posted by Longhorns’ new book publisher and marketer.

The company’s net profit in the six months period remained flat, despite the jump in revenue at 0.1 percent increase in net profit to KSh69 million was posted by Longhorn.

The weak growth in profit was attributed to development costs for new products by the company with improved sales in regional markets such as Tanzania and Uganda which posted 21% and 15% revenue jump.

As of December 2019, Longhorn publishers had successfully distributed over 2.4 million copies of Grade 4 books throughout the country.

Longhorn is a major Kenyan publishing company with subsidiaries in Uganda, Tanzania, Rwanda, and Zambia.

The company is tasked with producing school books for the new Competency Based Curriculum.

The company expects to improve in terms of performance in the second half of the year given the investment put in in the first six months.