{"id":23898,"date":"2021-03-09T21:40:51","date_gmt":"2021-03-09T21:40:51","guid":{"rendered":"https:\/\/www.africa-press.net\/kenya\/?p=23898"},"modified":"2021-03-09T21:40:51","modified_gmt":"2021-03-09T21:40:51","slug":"homeboyz-entertainment-issues-profit-warning","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/economy\/homeboyz-entertainment-issues-profit-warning","title":{"rendered":"Homeboyz Entertainment issues profit warning"},"content":{"rendered":"<p><strong>AfricaPress-Kenya:<\/strong> Newly listed entertainment provider Homeboyz Entertainment is expecting its profit for the financial year ending December 31, 2020, to be lower than expected.<\/p>\n<p>The profit warning comes against the background of a challenging business environment attributed to the COVID-19 pandemic.<\/p>\n<p>Painting a picture of the difficult operating environment, Homeboyz Entertainment Chief Executive Myke Rabar said to remain competitive, the firm instituted many radical cost rationalisation measures, including instituting a hiring scheme based on active projects and innovative initiatives in the digital space to shore up revenues.<\/p>\n<p>&#8220;In recognition of the foregoing, the Board of Directors would like to inform the investing public that based on the projected financial performance (as shared in Homeboyz listing statement) for the financial year ending December 31st, 2020, the net profit attributable to the shareholders of the company is expected to be lower as compared to a similar prior period, December 31st 2019,\u201d said the firm in a statement.<\/p>\n<p>Also carried in the notice dated March 8 2021 include the assurance of a turnaround pegged on several factors including the lifting of restrictions.\u201cHomeboyz expects its financial performance to recover as the market opens, the COVID-19 crisis is mitigated as the company implements its strategic plan to capture a wider market share in each of its existing core business lines and diversifies its revenue streams,\u201d said Rabar.<\/p>\n<p>The firm further noted, \u201cHomeboyz has also secured contracts with the Kenya Football Federation, Kenya Rugby League, WRC Safari Rally, East Africa Motor Sports Club, The Superbike Association, E- Sports Federation of Kenya and the Magical Kenya Open.\u201d<\/p>\n<p>Newly listed entertainment provider Homeboyz Entertainment is expecting its profit for the financial year ending December 31, 2020, to be lower than expected.<\/p>\n<p>The profit warning comes against the background of a challenging business environment attributed to the COVID-19 pandemic.<\/p>\n<p>Painting a picture of the difficult operating environment, Homeboyz Entertainment Chief Executive Myke Rabar said to remain competitive, the firm instituted many radical cost rationalisation measures, including instituting a hiring scheme based on active projects and innovative initiatives in the digital space to shore up revenues.<\/p>\n<p>&#8220;In recognition of the foregoing, the Board of Directors would like to inform the investing public that based on the projected financial performance (as shared in Homeboyz listing statement) for the financial year ending December 31st, 2020, the net profit attributable to the shareholders of the company is expected to be lower as compared to a similar prior period, December 31st 2019,\u201d said the firm in a statement.<\/p>\n<p>Also carried in the notice dated March 8 2021 include the assurance of a turnaround pegged on several factors including the lifting of restrictions.<\/p>\n<div class=\"ad-article-page-desktop my-2\">\n<div align=\"center\">\n<div id=\"div-gpt-ad-1464965995785-0\"><\/div>\n<\/div>\n<\/div>\n<p>\u201cHomeboyz expects its financial performance to recover as the market opens, the COVID-19 crisis is mitigated as the company implements its strategic plan to capture a wider market share in each of its existing core business lines and diversifies its revenue streams,\u201d said Rabar.<\/p>\n<p>The firm further noted, \u201cHomeboyz has also secured contracts with the Kenya Football Federation, Kenya Rugby League, WRC Safari Rally, East Africa Motor Sports Club, The Superbike Association, E- Sports Federation of Kenya and the Magical Kenya Open.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>AfricaPress-Kenya: Newly listed entertainment provider Homeboyz Entertainment is expecting its profit for the financial year ending December 31, 2020, to be lower than expected. The profit warning comes against the background of a challenging business environment attributed to the COVID-19 pandemic. Painting a picture of the difficult operating environment, Homeboyz Entertainment Chief Executive Myke Rabar [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":23885,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[1539,6981],"class_list":["post-23898","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-covid-19","tag-homeboyz-entertainment"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Homeboyz Entertainment issues profit warning - kenya<\/title>\n<meta name=\"description\" content=\"Newly listed entertainment provider Homeboyz Entertainment is expecting its profit for the financial year ending December 31, 2020, to be\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/economy\/homeboyz-entertainment-issues-profit-warning\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Homeboyz Entertainment issues profit warning\" \/>\n<meta property=\"og:description\" content=\"Newly listed entertainment provider Homeboyz Entertainment is expecting its profit for the financial year ending December 31, 2020, to be\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/economy\/homeboyz-entertainment-issues-profit-warning\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-09T21:40:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2021\/03\/homeboyz_entertainme604782834dd08.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"934\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/homeboyz-entertainment-issues-profit-warning#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/homeboyz-entertainment-issues-profit-warning\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Homeboyz Entertainment issues profit warning\",\"datePublished\":\"2021-03-09T21:40:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/homeboyz-entertainment-issues-profit-warning\"},\"wordCount\":514,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/homeboyz-entertainment-issues-profit-warning#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2021\/03\/homeboyz_entertainme604782834dd08.jpg\",\"keywords\":[\"COVID-19\",\"Homeboyz Entertainment\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/economy\/homeboyz-entertainment-issues-profit-warning#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/homeboyz-entertainment-issues-profit-warning\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/economy\/homeboyz-entertainment-issues-profit-warning\",\"name\":\"Homeboyz Entertainment issues profit warning - 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