This archive report was first published on 30 August 2019.
On August 30, 2019, Longhorn Publishers released their full-year results, which showed a disappointing decline in revenue.
The company reported revenue of Ksh1.6 billion, a 5% drop from the previous year, largely due to reduced government spending on textbooks.
Longhorn's gross profit also declined by 1.2% to KSh905.8 million, down from KSh915 million in the previous year.
Despite this, the company's profit after tax showed a 0.83% increase to KSh185.13 million, thanks to operational efficiencies.
Longhorn continues to pursue its goal of expanding its digital products and entering Francophone countries, with plans to form strategic alliances.
Shareholders also approved a final dividend of Ksh 0.52 per share, in line with the 2019 Annual General meeting.
