Nairobi Business Ventures (NBV) has posted Kes31.69 million in net profit for the half-year to September an increase from Kes74,000.
The shoe manufacturer that bought Delta automobile, Aviation Management Solution, Air Direct Connect and Delta Cement to diversify revenue streams says it made more money as a result of diversification.
The company now operates Delta Automobile, a services provider for Shreeji Enterprises which operates a fleet of over 700 vehicles, Air DC runs a private hangar at the Jomo Kenyatta International Airport and is building a one million capacity cement plant.
NBV commenced its business operations as a wholesaler and retailer of premium leather products, however, due to the economic recession and lack of demand the shoemaker opted to diversify its business into more sustainable industries such as the trading, manufacturing, and service sector.
This diversified business approach was taken to protect the shareholder’s interest and other stakeholders against ups and downs in the business environment due to internal and external factors.