April 18, 2018 / 5:56 AM / a month ago

Kenya's Nation Media Group says 2017 pretax profit falls 21 pct

NAIROBI, April 18 (Reuters) - Kenya’s Nation Media Group said on Wednesday its full year 2017 pretax profit fell 21 percent to 1.95 billion shillings ($19.45 million), with overall revenue also falling.

Stephen Gitagama, its acting chief executive officer, told an investor briefing that total revenues were down 6 percent compared with the year earlier, hurt by a drop in advertising revenues, especially in Kenya where a prolonged election period led to businesses holding off spending.

$1 = 100.2500 Kenyan shillings Reporting by George Obulutsa; Editing by Omar Mohammed

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