Longhorn Publishers Makes 70 Percent Profit

Longhorn Publishers has become the first firm this year to announce that it has realized 70 percent in profit after tax in the six month half-year results for the period that ended on December 2015.

According to the management of Longhorn, the profits are as a result of 56 percent jump turnover of the company during the period under review.

In the year 2014, Longhorn Publishers realized profits after tax of 39.8 million shillings but according to the listing at the Nairobi Security Exchange (NSE), in the six months period that ended December 2015, Longhorn Publishers has recorded profits amounting to 67.8 million shillings after tax.

There was an instant increase in terms of the sales of books from the company amounting to 831.3 million shillings and this might have been driven by the parents buying books for their children especially those who were to join form ones before the prices went up. Earlier this year, publishers reached a decision to increase the prices of books by 10 percent as the cost of production became high.

According to a statement released from the company, the performance of Longhorn was driven majorly by the fact that there was product diversification strategy that greatly helped the company to maximize on its income.

Longhorn Publishers has been over the years known to be mainly dealing in the printing and distribution of textbooks but last year, the firm minimized reliance of textbooks only and signed deals to print, publish as well as distribute bibles, charts and hymn books.

Article by Juma Fred.