Longhorn Publishers Posts Deeper Loss as Curriculum Changes Disrupt Sales

Longhorn Publishers’ revenue fell 55.8% year-on-year to KES 679.9M in FY2025, reflecting delays in government textbook orders and reduced private market demand following curriculum rationalisation. The company reported a loss after tax of KES 261.4M, widening from KES 237.9M in FY2024, as the curriculum transition continued to weigh on earnings.

The education publisher said the rationalisation process led to the impairment and write-off of earlier CBC materials, with final approvals for revised content only issued in January 2025. This delayed procurement at the start of the school year, pushing an estimated KES 463M in revenue into subsequent periods.

Operating expenses were cut by 20%, while finance costs remained stable at KES 203.9M. The firm’s total assets grew 7.7% to KES 2.23 billion, supported by higher property and equipment holdings. Despite the net loss, total comprehensive loss narrowed sharply to KES 5M, from KES 266M the year before, helped by gains in other comprehensive income.

Looking ahead, management expects stability to return to the sector now that the revised CBC curriculum is in place. Longhorn anticipates renewed growth from fresh government contracts, a recovering private market, and expansion of its digital learning platforms, which now reach more than 300 schools and 50,000 learners.