Equity Group Posts 15% Profit After Tax Rise to Sh46.1B

Equity Group has posted an Sh46.1 billion net profit for the financial year ending December 31, 2022, boosted by higher earnings on the Kenyan unit.

Compared to the Sh40.1 billion that was reported in the same period in 2021, this indicated a 15% year-over-year gain.

The Kenyan unit contributed Sh33.4 billion, representing 73 percent, of the total Sh46.1 billion.

“Equity Group has reported a record Profit Before Tax of Kshs 59.8B, and Profit After Tax of Kshs 46.1B, a 15% year-on-year growth,” the Group’s managing director and Chief Executive Officer James Mwangi said.

The company’s board of directors announced a dividend to shareholders of Sh4 per share.

“The Board of Directors has recommended a dividend of Kenya Shillings four (Shs 4.00), for each ordinary share on the issued and paid-up share capital of the Company for the financial year ended 31 December 2022,” the Group said in its audited financial statement.

“Subject to Shareholders’ approval, the dividend will be payable on or before 30th June 2023, to the members of the Company on the share register of the Company on the closure date of 19th May 2023.”