This archive report was first published on 30 August 2021.
On August 30, 2021, Standard Group reported a net loss of KSh61.2 million in the first half of 2021, a notable improvement from the KSh306 million loss in the same period in 2020.
The company's revenue improved to KSh1.6 billion at the end of June this year, up from KSh1.4 billion at the end of June last year, driven by improved performance in various sectors of the economy.
According to the company's financial report, the operating environment continues to improve, with key clients gradually increasing their advertising budgets, while recently launched products have continued to increase their contribution towards revenue growth.
Standard Group cut its total operating expenses by 8% to KSh1.6 billion at the end of June 2021 from KSh1.7 billion in June 2020.
The company's total assets grew by 4% in the six months period to KSh4.2 billion at the end of June 2021 from KSh4.05 billion at the end of December 2020.
