[quote]
OUTLOOKThe group anticipates continued utilization of the proceeds from the Kshs.500 million debt issue in project development over the first half of 2015 with resultant benefits in the form of revenue and profits to be generated in the second half of 2015.
Completion of the residential units in Mitini, within Migaa, is expected in May 2015. Key infrastructure works in Migaa including the roads network construction, golf course, water & sewer reticulation, power distribution and street lighting are accelerating from 2015 going forward for completion in 2017. In this regard, the company has entered into a
milestone partnership of USD 22 Million to develop and manage the club house, sports facilities, and the golf course in Migaa.
The group continues to have substantial amounts held as deferred income, inventories and deposits received for future sales which are expected to convert into revenue and profit as this development continues. To achieve this, the group has significantly increased its marketing efforts to achieve sales of residential and private developer sites at each of its
projects and this is expected to start yielding results in the second half of 2015.
The management and board will also continue streamlining costs and increase efficiency to
maximize shareholder return. The directors remain confident of the substantial underlying long term value and profit generation in the periods ahead.[/quote]
Pesa Nane plans to be shilingi when he grows up.