Flame Tree Group Holdings has reduced its net loss to KSh 76 million from KSh 90.6 million in H1 2024 despite inflationary pressures, high finance costs, and delays in insurance recoveries.
- •The Group’s revenue grew to KSh 1.84 billion, up 2% year-on-year, supported by growth in East Africa.
- •Margins remained stable at 36.6%, while EBITDA reached KSh 153 million compared to KSh 164 million a year earlier.
- •Finance costs fell by 13% to KSh 157 million, aided by a KSh 88 million reduction in net debt (-5%), and working capital days improved to 33, strengthening liquidity and cash flow.
| Metric | Jun 30 2025 | Jun 30 2024 | YoY |
|---|---|---|---|
| Revenue | 2.074 Bn | 2.098 Bn | -1.1% |
| Gross Profit | 758.6 Mn | 764.9 Mn | -0.8% |
| Operating Profit | 81.1 Mn | 90.71 Mn | -10.6% |
| Finance Costs | 157.46 Mn | 181.32 Mn | -13.2% |
| Profit/(Loss) Before Tax | -76.4 Mn | -90.9 Mn | Improved |
| Profit/(Loss) After Tax | -76.4 Mn | -90.9 Mn | Improved |
| Earnings per Share (EPS) | -0.43 | -0.53 | Improved |
| Total Assets | 4.112 Bn | 3.887 Bn | +5.8% |
| Total Equity | 1.357 Bn | 1.285 Bn | +5.6% |
| Borrowings (Total) | 681.55 Mn | 635.25 Mn | +7.3% |
| Cash & Cash Equivalents | 75.37 Mn | 51.66 Mn | +45.9% |
| Net Cash from Operations | 215.5 Mn | 13.97 Mn | +1,443% |
| Net Cash used in Investing | -100.17 Mn | -62.01 Mn | Worsened |
| Net Cash used in Financing | -406.1 Mn | -379.4 Mn | Worsened |
Segment Performance
Water, Sanitation & Packaging (WSP)
Kenya remained the anchor market, with Jojo and Roto advancing sustainability through PET and HDPE recycling initiatives and investing in new machinery to expand capacity.
In Rwanda, Build Mart recorded strong growth following the launch of new household product lines. Ethiopia and Mozambique faced challenges from forex shortages, political instability, and weak demand.
FMCG (Cosmetics & Snacks)
Revenue from Kenya rose 16%, while Rwanda gained 30%, highlighting strong consumer demand. New cosmetic taxes weighed on margins, but FMCG remains a high-potential growth segment, supported by upcoming product launches and distribution expansion.
CEO Heril Bangera said the results reflected the resilience of FTG’s business model and its strong East African footprint. Strategic priorities for the second half include debt reduction, accelerating WSP growth, reinvesting in FMCG, and turnaround efforts in Ethiopia and Mozambique. Sustainability initiatives in recycling, tree planting, and water access remain central to the Group’s long-term growth strategy
