Beauty products & plastics manufacturer Flame Tree Group (Stock; FTGH ) has released its half year 2017 results, recording a 17.4% decline in net profit to Sh 66.5 Million.
Revenue rose by 5% to Sh 1.3 Billion mainly driven by growth in the manufacturing business of the company. Cost of sales increased by 10% to Sh 828.4 Million as gross profit fell by 3.7% to Sh 432 Million.
Other operating income fell 16.2% to Sh 2.2 Million as other operating expenses declined by 24.6% to Sh 18.8 Million. Selling and distribution costs increased by 0.5% to Sh 176 Million as administrative expenses dropped 7% to Sh 114.7 Million.
Total assets grew by 9.5% to Sh 1.6 Billion on the back of a 9.4% increase in current assets to Sh 1.2 Billion.