Nairobi Business Venture Limited (NBV.ke) HY2024 Interim Report Summary
- The combined Group revenues for the 6-month period from April 2023 to September 2023 were Kshs 543.04 million, a significant increase from Kshs 348.37 million in the same period the previous year.
- This growth in revenue is mainly due to an increase in sales in the trading business as a result of heightened orders for chemical products.
- Total direct and other operating expenses went up to Kshs. 390.22 million, leading to a Gross profit of Kshs. 152.82 million. In 2022, these expenses were Kshs. 220.11 million, resulting in a Gross profit of Kshs. 128.26 million.
- Administrative and other costs were at Kshs. 116.23 million, resulting in a Profit Before Tax of Kshs. 36.58 million. The previous year these costs were Kshs, 124.4 million, resulting in a Profit Before Tax of Kshs. 3.86 million.
- The Trading Division generated revenue of Kshs 282.07 million with a Net Profit before tax of Kshs 21.7 million, mainly due to increased sales of chemical products.
- Delta Automobile Ltd provided repair and maintenance services for Heavy Commercial Trucks, contributing a revenue of Kshs 227.45 million, and a Net Profit before tax of Kshs 14.46 million.
- The Aviation Division, composed of Aviation Management Solutions Ltd (AMS) and Air Direct Connect Ltd (ADC), reported a combined turnover of Kshs. 33.52 million over the six months, breaking even.
- Despite a challenging economic environment, the Group remains optimistic about future growth across all divisions, and committed to cost containment and revenue growth.
About Nairobi Business Venture Limited (NBV.ke)
Nairobi Business Venture (NBV) Limited deals primarily in the sale of imported leather shoes and leather accessories which are rebranded und the name KShoes (previously ‘Kwanza’ shoes). The shoes and accessories are imported from China and India and rebranded for the Kenyan domestic market. NBV has six retail outlets selling KShoes in prime locations in Nairobi. The company has ventured into manufacturing its own leather products and has embarked on an accelerated expansion drive which will see it roll out more than 25 stores over the next half decade. Nairobi Business Venture Limited is listed on the Nairobi Securities Exchange
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