Longhorn Publishers Issues Profit Warning

Longhorn Publishers Issues Profit Warning

Longhorn Group CEO, Maxwell Wahome

Longhorn Publishers Plc has said its earnings for the year ending June 30 will be lower compared to its previous year’s performance due to disruption of learning caused by COVID-19.

“The Covid-19 crisis and the related mitigating measures implemented by governments in the regions where Longhorn operates, including the suspension of learning in schools, have had an adverse impact on the business and the performance for the financial year,” said Francis Thombe Nyammo, Group Chairman in the cautionary statement.

The Group’s Board says it remains confident in its strategy and is focusing efforts towards scaling and fully optimizing its digital learning solutions to support the recovery of the Groups’ performance.

In March, the publisher launched a free learning portal for quarantined primary and secondary schoolchildren. 

The Kenyan publisher operates in Kenya, Uganda, Tanzania, Rwanda, and Zambia.

In its previous full-year performance, it witnesses a jump in pre-tax to KSh185 million in the year ending June 30, from Sh183 million in 2018. This was attributed to the rollout of the new competency-based curriculum (CBC), which saw the firm distribute two million textbooks to 23,000 public primary schools in Kenya.