Britam Holdings, a diversified financial services company, posted a KSh1.69 billion net profit for the fiscal year ending December 2022, an improvement from the KSh72 million recorded in 2021.
“The improved performance is attributable to a growth in top-line revenue as well as operating efficiency and cost management initiatives,” said Britam.
The Group reported gross earned premiums and fund management fees of KSh33.4 billion, a 2.7 per cent growth from KSh32.5 billion recorded in the previous financial year.
“We are pleased with the growth trajectory of our business in Kenya and the region following our focus on improving customer experience and strategic partnerships,” said Britam’s Group MD and CEO Tom Gitogo.
However, shareholders will receive no dividends for the third year in a row. The last payment was made in 2019 when the board paid a dividend of Ksh 25 cents per share, totalling Ksh 630,870,00.
Britam Group operates in Kenya, Uganda, Tanzania, Rwanda, South Sudan, Mozambique and Malawi.