Cytonn Investments posts Sh631m profit in 2015

Real estate company Cytonn Investments has posted a Sh631 million profit for the financial year ending December 2015.

Buoyed by a strong performance in the lucrative real estate investment segment, the company’s asset base hit Sh6.5 billion.

The company delivered a return on equity of 42 per cent with a total equity of Sh3.6 billion, helped by the company’s diversified real estate portfolio and high-yielding investment solutions, delivering robust performance built on strong and efficient operational base.

“Our strategy to focus on the attractive investment opportunities, which exists in Kenya and the region drove our performance,” said Edwin Dande, Cytonn’s chief executive.

Mr Dande further attributed the huge profits to focus on real estate, private equity, structured products and strong partnerships with global financing partners such as Taaleri of Finland.

The chairman of the board of directors, Daniel Mugendi Njiru, in a press statement, described the profits as “great numbers for the group.”

Prof Mugendi attributed the profits to attractive investment opportunities in the country and the region boosted by a committed team.

“I believe with this spirit we shall continue to contribute to economic growth, creating jobs and improving the standards of living of our people,” said Prof Mugendi.

He observed that the region remains the most attractive investment destination for investors for high stable returns.

Prof Mugendi noted that alternative investments in Kenya continue to gain attention as they consistently deliver attractive returns and that is where Cytonn is focused.

According to Mr Dande the company is exploiting the housing deficit, estimated to be 200,000 units annually, which has seen its investments portfolio increase to 14 developments whose estimated mandate is Sh73 billion.