Kenyan media company Standard Group says it doubled pretax profit in the first half of the year, with growth driven by advertising revenues.
According to Reuters, total revenue rose 31 percent to sh2.26 billion ($29.7 million) helped by the jump in earnings from television and radio promotions.
In an official statement, Standard Group said it was confident about the development, adding that “the board remains optimistic that the current momentum will be sustained in the second half of the year”.
Industry analysts posit that print outfits in Kenya are benefiting from campaign advertisement in both print and electronic media in the run-up to the presidential elections in March 2014.
The company which is considered Kenya’s second largest daily newspaper, also runs the Kenya Television Network (KTN), Radio Maisha, the County Weekly (a bi-weekly county-focused newspaper) and Standard Digital World which is its online platform.