Gains of Ksh.2.7billion was booked from disposal of ALmasi Beverages and Nairobi Bottlers limited.The company changed the accounting method for realised gains on exit of investments following the adoption of IFRS 9 Financial instruments.
Previously gains booked on the income statement were computed as the difference between the sales proceeds from the exit and acquisition cost of the asset,which would have resulted in realised gain for the year ended March 31 2020 of ksh.16 billion.
Under the IFRS 9 gain is computed as the difference between the sales proceeds and the previous period valuation.
The company recorded a one-off impairment provisions of ksh.3.6billion ,which include provision of Amu power Company Ltd.
At March 31 2020,the only long term borrowing on the company's balance sheet was the 5-year ksh.6.6billion corporate bond.
On June 8 2020,centum repaid the full amount outsanding.
The company has now fully retired all its medium and long term debt having earlier repaid USD 75 Million (ksh.7.8 Billion) of USD Dollar denominated bank debt in September 2019.
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