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[2008-08-21] NMG raises profit outlook after strong first half
Nation Media Group has raised its outlook for the second half of the year after shrugging off the effects of the post- election violence to post a 14 per cent increase in profit before tax for the six months to June 30.
During an investor briefing at a Nairobi hotel yesterday, Mr Linus Gitahi, the Chief Executive Officer of NMG, said that strong advertising revenues, supported by the Group’s new products, helped the company to strengthen its position as market leader and fend off competition.
With the Kenyan economy in a recovery mode, Mr Gitahi said that Group products in the Kenyan market stand to record higher advertising and circulation revenues compared to the first half.
“I expect above target performance for the full year results,” said Mr Gitahi.
