By Andrew Walyaula
waliaulaandrew0@gmail.com
Longhorn publishers have every reason to smile after recording a net profit of Sh7.5 million as opposed to last year where they reported a loss of Sh226 million.
The profit is attributed to the recovery in selling books, mostly after the resumption of schools, which were indefinitely closed during the onset of Covid-19 pandemic.
“There was the extended suspension of learning in schools and constrained consumer wallets. Kenya and Uganda begun the year with school closure and movement restrictions as part of the pandemic containment measures,” read statement released by Longhorn.
In comparison to last year’s, the total revenue went up by 16 per cent to Sh1.22 billion this year.
It recoded 18 per cent growth in Kenya, 83 per cent in Uganda and 8 per cent in Tanzania for the year.
Besides, its operational expenses reduced by 53 per cent for the year compared to 2020 because of imposed containment measures such as streamlining of operations and renegotiation with suppliers.
Longhorn is also concentrated in enhancing technology in the firm in the bid to improve its operations.
“The business is upgrading its eLearning and eBook platforms which is anticipated to be launched in the second quarter of the 2022 Financial Year,” Francis Tnyammo, the Group Chairman said.
