Nation Media Group

Ticker code NMG Industry Consumer Services Nation Centre
Kimathi Street
P.O. Box 49010 - 00100 GPO
Nairobi, Kenya
ISIN KE0000000380 Sector Media
Initial Listing 2 November 2010 (ROTC) Financial Year End 31 December
Website www.nationmedia.com Results Released Half-yearly
31-Dec-10 31-Dec-11 31-Dec-12 31-Dec-13 31-Dec-14
  KES m KES m KES m KES m KES m
Results
Revenue 9,602.5 11,245.8 12,346.8 13,373.7 13,351.3
Profit before income tax 2,146.6 2,810.3 3,504.6 3,587.1 3,624.0
Profit attributable to shareholders 1,519.8 1,949.3 2,612.7 2,615.7 2,418.1
Net assets
Non-current assets 2,898.4 2,961.2 3,429.2 3,877.9 4,569.3
Net current assets 2,523.7 3,324.2 4,031.5 4,449.9 4,256.7
Non-current liabilities - -163.0 -137.2 -84.4 -57.9
Non-controlling interest -61.9 -69.9 -72.4 -61.8 -53.9
Shareholders' funds 5,360.2 6,052.5 7,251.1 8,181.6 8,714.2
EBIT 2,020.1 2,558.3 3,060.7 3,253.9 3,135.0
EBITDA 2,374.1 2,932.9 3,448.2 3,677.2 3,564.2
Profit before tax as a percentage of turnover (%) 22.4 25.0 28.4 26.8 27.1
Earnings per share (KShs) 9.8 12.7 13.3 13.4 13.1
Dividends per share (Kshs) - Normal 5.5 8.0 10.0 10.0 10.0
Dividends per share (Kshs) - Special 2.5 - - - -
Total dividend per share (KShs) 8.0 8.0 10.0 10.0 10.0
Dividend cover times (times) 1.2 1.6 1.3 1.3 1.3
 

PERIOD ENDED: 31-Dec-10 31-Dec-11 31-Dec-12 31-Dec-13 31-Dec-14
Unit: KES m KES m KES m KES m KES m
Statement type: Audited Restated Restated Audited Audited
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Consolidated Statement of Comprehensive Income
Revenue 9,602.5 11,245.8 12,346.8 13,373.7 13,351.3
Cost of sales -2,056.5 -2,861.0 -2,659.8 -2,699.4 -2,538.7
Gross profit 7,546.0 8,384.8 9,687.0 10,674.3 10,812.6
Distribution costs -273.1 -313.5 -359.0 -355.2 -375.2
Administrative expenses -942.3 -879.4 -1,097.8 -1,115.0 -1,080.0
Other expenses -4,310.5 -4,633.6 -5,169.5 -5,950.2 -6,222.4
Operating profit 2,020.1 2,558.3 3,060.7 3,253.9 3,135.0
Other income
Gain on disposal of subsidiary - - - - -
Interest income 86.8 152.5 352.0 280.8 299.0
Interest expense -1.7 -12.7 -30.0 -15.3 -11.6
Share of profit after income tax of associate 41.4 112.2 121.9 67.7 201.6
Profit before income tax  2,146.6 2,810.3 3,504.6 3,587.1 3,624.0
Income tax expense -608.2 -803.5 -994.3 -1,053.9 -1,163.5
Profit for the year 1,538.4 2,006.8 2,510.3 2,533.2 2,460.5
Other comprehensive income:
Currency translation differences -58.7 -21.8 -26.4 49.7 -53.3
Share of other comprehensive income in associate, net of tax - -27.7 - - -
Other comprehensive income from associate 34.8 - - 42.8 3.0
-23.9 -49.5 -26.4 92.5 -50.3
Items that will not be reclassified to profit or loss
Revaluation gain, net of tax - - 131.3 - -
Total comprehensive income for the year  1,514.5 1,957.3 2,615.2 2,625.7 2,410.2
Profit for the year attributable to:
Owners of the parent 1,536.0 1,996.9 2,504.1 2,528.5 2,464.4
Non-controlling interest 2.4 9.9 6.2 4.7 -3.9
1,538.4 2,006.8 2,510.3 2,533.2 2,460.5
Total comprehensive income attributable to:
Owners of the parent 1,519.8 1,949.3 2,612.7 2,615.7 2,418.1
Non-controlling interest -5.3 8.0 2.5 10.0 -7.9
1,514.5 1,957.3 2,615.2 2,625.7 2,410.2
Basic and diluted earnings per share (KShs) 9.8 12.7 13.3 13.4 13.1
 

Period ended: 30-Jun-13 31-Dec-13 30-Jun-14 31-Dec-14 30-Jun-15
Period length: 6-months 6-months 6-months 6-months 6-months
Unit: KES m KES m KES m KES m KES m
Statement type: Unaudited Restated Restated Audited Unaudited
View original statement: Download Download Download Download Download
Consolidated Statement of Comprehensive Income
Turnover 6,428.1 6,945.6 6,446.6 6,904.7 6,110.1
Profit before income tax 1,616.9 1,970.2 1,561.5 2,062.5 1,429.6
Income tax expense -502.0 -551.9 -476.6 -686.9 -406.5
Profit after income tax 1,114.9 1,418.3 1,084.9 1,375.6 1,023.1
Other comprehensive income 15.9 76.6 -19.3 -31.0 97.9
Total comprehensive income 1,130.8 1,494.9 1,065.6 1,344.6 925.2
Non controlling interest 3.7 1.00 -9.8 1.9 -6.6
Profit attributable to shareholders 1,134.5 1,481.2 1,075.4 1,342.70 931.8
Earnings per share (Kshs) 6.02 7.38 5.70 7.40 4.94

PERIOD ENDED: 31-Dec-10 31-Dec-11 31-Dec-12 31-Dec-13 31-Dec-14
Unit: KES m KES m KES m KES m KES m
Statement type: Audited Restated Restated Audited Audited
View original statement: Download Download Download Download Download
Consolidated statement of financial position 
Capital employed
Capital and reserves attributable to the company's equity holders
Share capital 392.8 392.8 392.8 471.4 471.4
Other reserves 29.7 8.2 116.8 132.4 63.3
Retained earnings 3,916.4 4,630.2 5,563.1 6,163.7 6,765.4
Proposed dividends 1,021.3 1,021.3 1,178.4 1,414.1 1,414.1
Attributable to shareholders 5,360.2 6,052.5 7,251.1 8,181.6 8,714.2
Non-controlling interest 61.9 69.9 72.4 61.8 53.9
Total equity 5,422.1 6,122.4 7,323.5 8,243.4 8,768.1
Non-current liabilities
Long-term borrowings - 118.5 84.9 67.0 41.0
Deferred income tax - 44.5 52.3 17.4 16.9
Total non-current liabilities  - 163.0 137.2 84.4 57.9
Total equity and non-current liabilities 5,422.1 6,285.4 7,460.7 8,327.8 8,826.0
Non-current assets
Property, plant and equipment 1,893.3 1,945.3 2,280.8 2,234.6 2,589.4
Intangible assets 319.4 288.5 321.5 326.9 306.5
Prepaid operating lease rentals 86.8 85.0 84.4 82.8 80.5
Investment in associate 529.6 608.6 725.0 830.0 1,034.6
Investment in subsidiaries - - - - -
Deferred income tax 69.3 33.8 17.5 115.6 295.6
Long term deposits - - - 288.0 262.7
 Total non-current assets 2,898.4 2,961.2 3,429.2 3,877.9 4,569.3
Current assets
Inventories 676.3 1,034.3 1,015.2 1,094.8 944.5
Trade Receivables - net 1,244.7 1,302.3 1,515.2 1,767.9 1,871.0
Receivables due from related parties 2.2 2.4 6.4 15.2 5.0
Other receivables and prepayments 550.4 624.0 751.1 744.6 977.9
Cash and cash equivalents 2,603.2 2,744.7 3,960.3 3,805.7 3,451.7
Current income tax - 147.4 - 138.1 124.9
 Total current assets 5,076.8 5,855.1 7,248.2 7,566.3 7,375.0
Current liabilities
Trade payables 616.8 799.2 927.2 1,246.2 980.2
Due to related parties 1.4 3.5 10.9 27.9 14.6
Accrued expenses 1,622.0 1,302.3 1,809.4 1,463.5 1,171.2
Other payables 209.0 397.4 344.5 352.4 924.8
Borrowings 21.3 28.5 26.9 26.4 27.5
Current income tax 82.6 - 97.8 - -
 Total current liabilities  2,553.1 2,530.9 3,216.7 3,116.4 3,118.3
Net current assets  2,523.7 3,324.2 4,031.5 4,449.9 4,256.7
Total assets less current liabilities 5,422.1 6,285.4 7,460.7 8,327.8 8,828.0
 

PERIOD ENDED: 30-Jun-13 31-Dec-13 30-Jun-14 31-Dec-14 30-Jun-15
Unit: KES m KES m KES m KES m KES m
Statement type: Unaudited Restated Unaudited Audited Unaudited
View original statement: Download Download Download Download Download
Statement of Financial Position
           
Capital and reserves          
 
Share capital 471.4 471.4 471.4 471.4 471.4
Other reserves 130.0 132.4 114.2 63.3 -30.0
Retained earnings 6,131.7 6,163.7 6,848.1 6,765.4 7,318.8
Proposed dividends 1,649.8 1,414.1 1,885.4 1,414.1 1,885.4
Equity attributable to owners of the parent 8,382.9 8,181.6 9,319.0 8,714.2 9,645.6
Non-controlling interest 71.4 61.8 52.0 53.9 47.3
Total equity 8,454.3 8,243.4 9,371.0 8,768.1 9,692.9
           
Non-current liabilities 119.2 84.4 71.3 57.9 53.8
Total equity and non-current liabilities  8,573.5 8,327.8 9,442.3 8,826.0 9,746.7
Assets
Non-current assets 3,473.0 3,589.9 3,933.9 4,569.4 4,697.2
Working capital 
Current assets 7,920.5 7,854.3 8,392.2 7,374.9 8,140.0
Current liabilities 2,820.0 3,116.4 2,883.8 3,118.3 3,090.5
Net working capital  5,100.5 4,737.9 5,508.4 4,256.6 5,049.5
8,573.5 8,327.8 9,442.3 8,826.0 9,746.7

PERIOD ENDED: 31-Dec-10 31-Dec-11 31-Dec-12 31-Dec-13 31-Dec-14
Unit: KES m KES m KES m KES m KES m
Statement type: Audited Restated Restated Audited Audited
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Operating activities
Cash generated from operations 2,904.0 2,523.4 3,736.9 3,402.3 3,566.1
Interest received 86.8 152.5 352.0 280.8 299.0
Interest paid -1.7 -12.7 -30.0 -15.3 -11.6
Income tax paid -539.9 -955.2 -782.3 -1,422.9 -1,331.2
Net cash from operating activities 2,449.2 1,708.0 3,276.6 2,244.9 2,522.3
           
Investing activities
Purchase of property, plant and equipment -452.4 -446.0 -555.2 -356.7 -962.1
Purchase of intangible assets -15.2 -10.9 -72.7 -47.3 -41.8
Proceeds from sale of property, plant and equipment 11.3 16.2 10.7 11.2 12.7
Acquisition of non-controlling interest - - - -56.0 -
Dividends received from associate 5.5 5.5 5.5 5.5 -
Net cash used in investing activities -450.8 -435.2 -611.7 -443.3 -991.2
           
Financing activities
Proceeds from borrowings - 169.4 - - -
Repayment of borrowings -61.4 -43.7 -35.2 -18.4 -24.9
Dividends paid -806.1 -1,257.0 -1,414.1 -1,649.8 -1,885.5
Dividends paid to non-controlling interest in subsidiary -1.6 - - - -
Long term deposits - - - -55.7 25.3
Net cash used in financing activities -869.1 -1,131.3 -1,449.3 -1,723.9 -1,885.1
Net increase in cash and cash equivalents 1,129.3 141.5 1215.6 77.7 -354.0
 

PERIOD ENDED: 30-Jun-13 31-Dec-13 30-Jun-14 31-Dec-14 30-Jun-15
Period length: 6-months 6-months 6-months 6-months 6-months
Unit: KES m KES m KES m KES m KES m
Statement type: Unaudited Restated Unaudited Audited Unaudited
View original statement: Download Download Download Download Download
Condensed Cash Flow Statement
   
Cash generated from operations 1,175.2 2,227.1 1,212.5 2,353.6 1,559.7
Interest received 152.1 128.7 150.5 148.5 165.3
Interest paid -10.1 -5.2 -6.6 -5.0 -4.4
Tax paid -816.3 -606.6 -685.2 -646.0 -699.4
Net cash from operating activities 500.9 1,744.0 671.2 1,851.1 1,021.2
Net cash used in investing activities -244.5 -198.8 -572.3 -418.9 -596.2
Net cash used in financing activities -9.9 -1,658.3 -13.3 -1,871.7 155.9
Increase in cash and cash equivalents 246.5 -113.1 85.6 -439.5 580.9