Longhorn Publishers has reported a net loss of Ksh949.6 million for the year ended June 2026. It is the biggest loss the company has recorded since it listed on the Nairobi Securities Exchange (NSE) in 2012. Last year’s loss was Ksh261.4 million, so the deficit has grown almost fourfold.
Most of the damage comes from Kenya’s switch away from the 8-4-4 education system. Longhorn booked a Ksh518 million charge on stock and book related assets that the outgoing curriculum has left obsolete. A further Ksh262 million came from derecognising deferred tax assets, which the company no longer expects to use against future profits. Together, the two items account for Ksh780 million of the loss. The remaining Ksh169.6 million or so reflects the rest of the business.
Shareholders have felt the impact directly. Equity swung to a deficit of Ksh1.03 billion, from a positive Ksh18.1 million a year earlier. In practical terms, the publisher’s liabilities now exceed its assets by a wide margin.
Revenue offers a more encouraging picture, although it does not offset the losses. Total revenue climbed 20.7 percent to Ksh811 million as the company widened its market reach. Even so, turnover is still below the levels Longhorn reached at its peak.
Management is now pinning its recovery on the Competency-Based Curriculum (CBC). Sales and inventory are being shifted heavily towards approved CBC learning materials, which are replacing the old 8-4-4 titles in schools. At the same time, the company plans to speed up its digital operations and distribution through LoHo Learning, its online platform.
Longhorn will also lean on its core shareholders. Centum Investment Company is among the backers expected to provide strategic support and help with a financial restructuring. With equity now negative, that backing is likely to shape how quickly the publisher can stabilise its balance sheet.
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