April 17, 2019 / 6:22 AM / 7 days ago

UPDATE 1-Kenya's Nation Media Group 2018 pretax profit down 16.4 pct

(Adds details, background)

NAIROBI, April 17 (Reuters) - Pretax profit at Kenya’s Nation Media Group fell 16.4 percent to 1.6 billion Kenyan shillings ($15.83 million) in 2018, the company tweeted on Wednesday.

The decline was “mostly due to depressed regional economies. Also impacted by discontinuation of government advertising business from July 2018 due to inordinate delays in settling outstanding debts,” the company said.

Nation, the biggest publisher in East Africa, also operates in Uganda and Tanzania and runs radio and television stations in addition to a newspaper business.

$1 = 101.1000 Kenyan shillings Reporting by Omar Mohammed; Editing by Gopakumar Warrier and Mark Potter

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