TransCentury PLC, the Nairobi Securities Exchange-listed infrastructure investment firm, announced a significant financial recovery for the full year ending December 2023, posting a net profit of Sh580 million after a challenging period that saw the company record a loss of Sh3.2 billion in the same period in 2022.
The impressive turnaround has been attributed to strategic measures including revenue growth, margin expansion, cost containment, a clean-up of the balance sheet, and effective foreign currency risk management. These efforts have restored stakeholder confidence and positioned the company for sustainable growth.
“As the Board, we are proud of the decisive actions taken to return the Group to profitability and restore stakeholder confidence,” said Shaka Kariuki, Group Chairman of TransCentury PLC.
“Our stakeholders have been supportive and patient in our turnaround journey, and we are actively working to resolve outstanding debt issues with our main lender amicably, positioning the business for long-term stability and growth.”
Meanwhile, Group CEO Ng’ang’a Njiinu highlighted that revenue growth continues to be driven by strong brand positioning, consistent demand across core business segments, strategic capital allocation, and market deepening initiatives.
He emphasized that the return to profitability reflects not only financial resilience but also the dedication of the company’s team and the effectiveness of its strategic focus.
“Our next steps involve capitalizing on the significant growth opportunities ahead, optimizing our capital structure, and further improving our balance sheet,” Njiinu stated.
“We remain committed to creating sustainable value for our stakeholders and ensuring the long-term success of the business.”
Industry analysts see TransCentury’s recovery as a positive indicator of the resilience of Kenya’s infrastructure sector and the company’s ability to adapt to changing market dynamics. The company’s renewed financial strength positions it well to pursue upcoming growth opportunities and further enhance shareholder value.
