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Longhorn sinks to Sh226m loss as Covid clips book sales

Longhorn Publishers chairman Francis Nyammo at a past full-year earnings briefing in Nairobi.

Photo credit: Diana Ngila | Nation Media Group

What you need to know:

  • Longhorn reports first loss in eight years as schools closure hurt textbook sales.

  • Publisher's recorded full-year to June 2020 loss of Sh225.9 million.

  • Only Tanzania posted a 33 percent rise in sales revenue.

Longhorn Publishers has sunk into Sh225.9 million loss, the first in eight years, as the closure of schools due to Covid-19 pandemic hurt book sales.

The publisher, which had issued a profit warning, said on Friday its full-year to June 2020 net earnings had retreated from the Sh185.1 million profit booked the previous year.