LISTEN TO ARTICLE
Eveready East Africa posted an improvement in its half-year results from a net loss of KSh64.6 million in 2018 to a net loss of KSh39.6 million in 2019. The company produces consumer goods such as car batteries, flashlights, bulbs, dry cell batteries, and detergent. In the 2018 full-year earnings, the business recorded a KSh116 million loss down from a KSh267 million net profit in 2017.
The battery maker’s gross sales went down by 29 per cent to settle at KSh105.6 million. Eveready attributed the decline to the elimination of non-viable business streams. The group’s operating expenses in the six months remained high at KSh75 million despite a 26 million cost reduction from the results posted in a similar period in 2018.
Eveready appointed Ms Margaret Adhiambo to serve as the group’s CEO in January 2019 replacing Mr Jackson Mutua, who took up the position in 2011.
