Copper cables by the East African Cables.
Cables manufacturer East African Cables reported a loss of Sh741
million for 2015 on Wednesday, but said a strong order book due to
booming energy and construction projects in the region could help
improve its performance.
The firm, which makes cables
for the utility and telecoms industries and households, said disruptions
to output as it upgrades a factory in Kenya, as well as foreign
exchange losses and depressed demand due to political uncertainty all
hurt its performance for the year.
It posted a net profit of Sh341 million in 2014. Revenue dropped to Sh3.7 billion from Sh5 billion in 2014, the company said.
"The
Group opened the year with a strong order book spurred by the
developments in the energy and construction sectors in the region.
Positively, the expanded factory provides us with the opportunity to
serve the regional economies more efficiently and give value to
stakeholders," it said in a statement.
It posted a loss per share of Sh2.21 from positive Sh1.16 in 2014.
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