Liberty Kenya net profit down 10% to KSh 608 million

Financial services provider Liberty Kenya holdings recorded a 10 percent decline in its 2018 net earnings to KSh608 million. Gross premium revenue decreased by 3 percent from KSh10.5 billion to KSh10.2 billion. In a similar manner, its claims and expenses went down by 10 percent to KSh8.4 billion.

Liberty holding’s financial position weakened due to a 2 percent drop in the value of total assets. Its overall liabilities also went down from KSh29.9 billion to KSh28.9 billion.

The company blamed a tough operating environment for its low earnings. Going forward, Liberty Kenya Holdings plans to improve efficiency by reviewing its operations and automating most of its functions. The board members will discuss the dividend payout and pass the information to investors before the company’s AGM to be held on 6^th June 2019.