This archive report was first published on 28 August 2019.
On August 28, 2019, Nation Media Group (NMG) announced a Sh1.50 per share interim dividend for the first half of 2019, despite a challenging business environment that led to an 8.4% drop in total comprehensive income.
The company's board chairman, Wilfred Kiboro, attributed the decline in profitability to the business environment, which saw many companies cut their advertising budgets.
NMG earned Sh580.8 million in profit before tax, with group turnover dropping 7% to Sh4.58 billion from Sh4.92 billion in the first half of last year.
The company is deepening its investments in digital products to boost future returns for shareholders, with Group Chief Executive Officer Stephen Gitagama stating that the next phase will be about strengthening delivery on impactful journalism.
NMG is focusing on monetising its digital assets as the next frontier for new revenue streams, with the company having invested significantly in understanding its audiences and bringing on board data scientists, data analysts, and data engineers to track user behaviours.
