LONGHORN PUBLISHERS PLC AUDITED FULL YEAR RESULTS, 30TH JUNE 2018

Consolidated income statement 30th June 2018 30th June 2017

Sh’000 Sh’000
Revenue 1,696,318 1,451,774
Cost of sales (781,140) (702,173)
Gross profit 915,178 749,601

Other income 229 2,352

Distribution costs (134,591) (169,445)
Administrative expenses (422,452) (350,812)
Operating profit 358,364 231,696
Finance costs (85,218) (52,549)
Profit before income tax 273,146 179,147
Income tax expense (89,542) (45,271)
Profit for the year 183,604 133,876
Earnings per share 0.67 0.49

Condensed consolidated statement of financial position

Year ended 30th June 2018
ASSETS
Non-Current asset 753,700 607,859
Current assets 1,653,829 1,250,875
TOTAL ASSETS 2,407,529 1,858,734
EQUITY AND LIABILITIES
Share capital and reserves 1,039,638 945,706
Current liabilities 1,367,891 913,028
TOTAL EQUITY AND LIABILITIES 2,407,529 1,858,734

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

Cash flows from operating activities
Net cash generated from/(used in) operating activities 449,443 243,554
Net cash used in investing activities (198,148) (113,826)
Net cash (used in)/generated from financing activities 171,597 (318,129)
Net (decrease)/increase in cash and cash equivalent 422,892 (188,401)
Cash and cash equivalents at the beginning of the year 11,649 204,049
Translation differences on cash and cash equivalents (15,761) (3,999)
Cash and cash equivalents at the end of the year 418,780 11,649

Condensed statement of changes in Share Share Retained Translation Non-controlling Total

equity Capital premium earnings reserve interest equity
Year ended on 30th June 2018 Sh’000 Sh’000 Sh’000 Sh’000 Sh’000 Sh’000
At start of the year 272,440 368,289 339,650 (34,443) (230) 945,706
Profit for the year 183,031 573 183,604
Other comprehensive loss for the year
Exchange difference on translation of (10,664) (10,664)
foreign operations
Transactions with owners
Dividends
- 2017 Dividends paid (79,008) (79,008)
272,440 368,289 443,673 (45,107) 343 1,039,638

COMMENTARY ON RESULTS
Longhorn Publishers Plc has recorded a 17% increase in turnover to close at Shs 1.69 Billion against the previous year
turnover of Shs 1.45 Billion. Profit after tax for the year ended 30 June 2018 rose by 37%, Shs 183 Million against the
previous year’s profit of Shs 133 Million.
This impressive performance is attributed to the successful implementation of our 2015 - 2018 Strategic plan which
focused on product diversification, entry into new markets and growth of the digital offering. The group’s performance
was further bolstered by savings achieved through improvement of our operational efficiencies which has resulted in
the growth of operating margin from 16% to 21%.
The Company’s liquidity position remains strong, having recorded a 76% improvement in the net cash generated from
operating activities.
As we embark on a new strategic plan for the period 2018 - 2021, Longhorn will increase its focus on growing its
digital products and expanding into new territories within the Southern Africa and Francophone territories by offering
innovative country-specific learning solutions.
Dividends
The Directors are pleased to recommend the payment of a final dividend of Shs 0.42 per share totaling Shs 115 Million
for the year ended 30 June 2018. The dividend is subject to approval by the shareholders at the 2018 Annual General
Meeting and will be paid on or before 23 February 2019.
Closure of register
The Register of Members will be closed at the close of business on 23 November 2018 for purposes of determining
About Longhorn
21 App shareholders’ entitlement of dividends.
Publishers’
eLearning
Annual General Meeting
Materials
The Annual General Meeting will be held on Friday 23 November 2018.
• Our platforms are user friendly and easily
Change of Name accessible.
Pursuant to the resolution of the shareholders at the Annual General Meeting held on 8 December 2017 the name of the
company has• been changed
Content in our to Longhorn
platforms Publishers
is approved byPlc.
the Ministry of Education in the respective

FMaterials
Hon. Francis T. Nyammo OGW, MBS Simon Ngigi

countries.
(Group Chairman)
• We have eBooks and eLearning materials
Our eLearning re
(Group Managing
e
Director)
CONT
2018 More Books
which are curriculum specific and
More Digital Content and e-learning platforms
EN T
Longhorn
CRE Activities
PRE-
PRIMARY
materials that are relevant for general
Longhorn
Mathematics
PRE-
PRIMARY

1 readership. 2
Longhorn Mathematics Activities for Pre-Primary 2 Learner’s Book is a
onghorn CRE Activities for Pre-Primary 1 Learner’s Book is a new
ursebook that has been developed in line with the new competence-based
rriculum for pre-primary education. It aims at equipping learners with spiritual,
ellectual and moral development that helps them to deal with various challenges
Learner’s book
Activities
new coursebook that has been developed in line with the new competency-based
curriculum for pre-primary education. It aims at empowering learners to engage in
basic analysis of problems, which helps them to develop appropriate solutions in their
life. It also helps learners to develop awareness and appreciation of God and His
day-to-day life. Learner’s Book
autiful creation.

LONGHORN
The book:

he book: • enhances learning by discovery through numerous activities based on

everyday life experiences;
• enhances learning by discovery through numerous activities based on
• incorporates pertinent and contemporary issues in an interactive and
everyday life experiences;
child-friendly manner;
• incorporates pertinent and contemporary issues in an interactive and • has simplified curriculum-based activities that help learners in the
child-friendly manner; acquisition of core competences.
• has simplified curriculum-based activities that help learners in the • is beautifully illustrated to hold the child’s attention and make learning

E- LEARNING
acquisition of core competences. stimulating and enjoyable.

• Our platforms contain interactive books,

• is beautifully illustrated to hold the child’s attention and make learning
stimulating and enjoyable. Accompanying this Learner’s Book is a comprehensive Teacher’s Guide with
competence based teaching guidelines and assessment techniques.

ccompanying this Learner’s Book is a comprehensive Teacher’s Guide with BIDII PRIMARY
ompetence-based teaching guidelines and assessment techniques. The other book in this series is Longhorn Mathematics Activities for Pre-Primary SCHOOL
1 Learner’s Book.

eBooks, chunked & interactive revision PLATFORM

he other book in this series is Longhorn CRE Activities for Pre-Primary 2
arner’s Book.

I SBN 996664079 - 7

9 789966 640796
materials, animations and mobile apps. I SBN 996664071 - 1

9 789966 640710

• The eBooks are 50% cheaper than hard

ya
copy books.
maendeleo LONGHORN
Longhorn Publishers Plc, Funzi Road, Industrial Area. enquiries@longhornpublishers.com
ahili.
• We have enhanced content in our eBooks E-BOOK STORE
+254 2with
6532579/81
hotspots. @Lhornpublisher Longhorn Publishers www.longhornpublishers.com
mia:
fute Kamusi
• Subscription models used are very easy
to operate.