NAIROBI, Kenya- Longhorn Publishers PLC reported a net loss of KSh949.7 million for the year ended June 30, 2026, up from KSh261.4 million a year earlier, despite a 21 per cent increase in revenue.
The publisher’s audited results show revenue rose to KSh811 million from Sh672.1 million, supported by wider market coverage and stronger sales.
However, the group recorded a total comprehensive loss of Sh1.046 billion, compared with Sh5.3 million in 2025.
Longhorn attributed much of the reported loss to impairment losses linked to curriculum changes and the removal of previously recognised deferred tax assets.
Its commentary said the impairment of curriculum-related investments affected the results, while the transition was intended to provide a cleaner platform for future growth.
The financial statements list Sh460.3 million in impairment losses under cost of sales. Excluding those losses, gross profit rose to Sh357.5 million from Sh288.6 million the previous year.
Operating expenses increased by 23 per cent to Sh405.4 million, which the company linked mainly to higher promotional spending.
Finance costs declined to Sh182.2 million from Sh203.9 million.
The publisher said its operating environment was affected by delays in institutional procurement and constrained business funding.
It also cited continued implementation of the revised curriculum in its key markets.
The results show pressure on the company’s financial position.
Total assets fell to Sh1.33 billion from Sh2.23 billion, while total equity moved from positive Sh18.1 million to negative Sh1.03 billion.
Cash and cash equivalents dropped to Sh4.2 million at the end of June, down from Sh89 million a year earlier.
Longhorn used Sh36.7 million in operating activities, compared with generating Sh337.3 million in 2025.
Current liabilities stood at Sh2.33 billion, against current assets of Sh547.8 million.
Current borrowings rose to Sh1.20 billion from Sh442.4 million.
Looking ahead, the group said it would focus on operational discipline, product diversification and expanding its market reach.
It expects curriculum revisions, digital learning products and new customer segments to support renewed sales growth.
