AccessKenya FY revenues grow 75% to KES 1.6 bln

Mergers, Acquisitions and Financial Results

AccessKenya Group posted a 75 percent increase in revenue to KES 1.57 billion for the full year 2008. Pretax profit before extraordinary items rose by 65 percent to KES 211 million. MD Jonathan Somen said the company exceeded its original minimum guidance for growth in both revenues and profits in 2008.

For those shareholders who invested in AccessKenya's IPO back in June 2007, he said, they are now owners of a company with nearly triple the revenues and over quadruple the profits. The company is targeting a minimum turnover of KES 2 billion in 2009.