Nation Media earnings suffer due to bad debt by the government
Nation Media Group, the largest media house in East Africa reported a net profit after tax of Ksh 1.1 billion in the year ended December 2018, a 14.1% drop compared to the previous year.
NMG attributed the drop in earnings to the temporary shutdown of its television station, rise in newsprint prices, currency depreciation as well as depressed advertising revenues following the suspension of key government accounts.
The media house has however laid the foundation to transition from traditional legacy media to remain a successful business in the digital space while stepping up innovation to accelerate the growth of new revenue streams.
