Friday, August 28, 2009

Kenya's Standard posts 21 pct fall in pretax profit

Kenya's Standard Group (SGL.NR) posted a 21 percent drop in pretax profit to 119.2 million shillings ($1.56 million) for the first half on Friday, and it blamed a weaker local currency and newsprint costs for the fall.

Kenya's second-biggest media house said its outlook was only cautiously optimistic because a severe, ongoing drought in the country was restricting economic performance.

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