TransCentury back on top with Ksh.580 million profit in 2024

The outstanding performance is attributed to sustained revenue growth momentum, margin expansion, cost containment, balance sheet clean-up and prudent foreign currency exposure management.

Commenting on the results, TransCentury PLC Group Chairman, Shaka Kariuki noted that the FY2024 marked a defining chapter in TransCentury’s turnaround journey.

“As the Board, we are proud of the decisive actions taken to return the Group to profitability and restore stakeholder confidence. Our stakeholders have been supportive and patient in our turn around journey and we assure them that we are actively working to resolve outstanding debt issues with our main lender amicably positioning the business for sustainable growth,” said Mr. Kariuki.

The revenue growth, according to TransCentury, was driven by strong brand positioning, steady demand

across our core business segments, capital allocation prioritization to demand fulfillment as well as

market deepening initiatives.

The Group’s CEO, Ng’ang’a Njiinu noted that the performance underscores the successful execution of the group’s turnaround strategy.

“Our teams have delivered this remarkable turnaround in an incredibly challenging environment and

significant headwinds in the past few years. The return to profitability is not just a financial milestone

but also testament to the resilience of our people and business, the robustness of our strategy, and our

unwavering commitment to sustainable value creation. Our next steps are focused on capitalizing on

the significant growth opportunities we have created to scale up, capital structure optimization and

continued balance sheet improvement,” said Mr. Njiinu.

The group’s gross profit increased by 27% as a result of gross margins improvement driven by focus on

high margin products, improved procurement and efficient project management.

The firm expects the conclusion of its balance sheet improvement efforts to reflect in the next reporting periods.