Carbacid Net Profit Down 30%

NSE Kenya listed Carbacid Investments has posted a decline of 30.9 per cent in net profit for the half year period ended 31st January 2017 to Sh 164 Million.

Sales fell by 30 per cent to Sh 322  Million while operating profit also fell by 26 per cent to Sh 179.5Million.

Finance income was down 15 per cent to Sh 75 Million while revaluation loss from equity investment also fell to Sh 36 Million. Over the period, the company reduced its holdings in listed equities by 9 per cent to Sh 294 Million while increasing its holdings in government paper by 71 per cent to Sh 717 Million.

Earnings Per Share for the period was at Sh 0.64.

Africa Sokoni