NMG’s Pretax Profits Down by 21 Percent

Nation Media Group has announced its full-year financial results registering a 21 percent drop in its pretax profits.

According to the financial statement, the pretax profit stood at 1.95 billion shillings with an overall revenue for the company also falling.

The global revenue for the media group went down by 6 percent compared to 2016 with the management attributing this to a drop in advertising revenues in Kenya due to a prolonged electioneering period.

NMG has been in the spotlight following a mass resignation of columnists as well as notable journalists who have left the group.

The group has also dispelled rumors that it was in the process of being sold. “Nation Media Group is not on sale to anyone, ignore the rumors on social media,’ said Dr. Wilfred Kiboro.

The group, however, prides itself on a huge digital presence which has contributed 1.5 percent of income to the group in 2015 and 4 percent in 2017