The infrastructure investor reversed Ksh 3.2 billion loss it booked in full year to December 2023 on account of improved operating profit and foreign exchange earnings.

“As the Board, we are proud of the decisive actions taken to return the Group to profitability and restore stakeholder confidence. Our stakeholders have been supportive and patient in our turn around journey and we assure them that we are actively working to resolve outstanding debt issues with our main lender amicably positioning the business for sustainable growth,” said Shaka Kariuki, TransCentury Group Chairman.

Last year, the group’s revenue also improved marginally from Ksh 6.6 billion to Ksh 6.7 billion.

On the other hand, gross profit during the year grew by 27pc to Ksh 2.3 billion from Ksh 1.9 billion.

In a year to December 2024, the infrastructure investor saw its operating expenses decline marginally from Ksh 1.67 billion to Ksh 1.62 billion. As a result operating profit improved to Ksh 715 million from a loss of Ksh 371 million

During the year, the firm’s forex gains amounted to Ksh 1.23 billion from a loss of Ksh 1.49 billion.

TransCentury Group Chief Executive Officer, Ng’ang’a Njiinu said the performance underscores the successful execution of the group’s turnaround strategy.

“The return to profitability is not just a financial milestone but also testament to the resilience of our people and business, the robustness of our strategy, and our unwavering commitment to sustainable value creation. Our next steps are focused on capitalizing on the significant growth opportunities we have created to scale up, capital structure optimization and continued balance sheet improvement,” he stated.

During the year, the investor saw is asset base shrink by 19.4pc to Ksh 10.8 billion.

The board has not declared dividends for the year under review.

Going forward, TransCentury targets to drive sustainable top line growth, optimize costs, enhance capital allocation and advancing innovative cash flow management support the growth momentum.