NAIROBI: East African Cables, which makes cables for the utility and telecoms industries, reported a loss of 97.6 million shillings ($941,176) for the first six months of 2015, citing disruptions to output as it upgrades a factory in Kenya. The company reported a pretax profit of 326.5 million shillings in the same period last year.
“The refurbishment is expected to be fully completed in September 2015 and thereafter the capacity of the factory will be significantly increased,” it said, after reporting a 22 percent decline in group revenue in the first six months.
It said the Kenya business remained profitable despite interruptions but said the Tanzania operation was heavily impacted by foreign exchange losses.
“The directors expect improved financial performance in the last quarter of the year, driven by a strong order book and completion of the factory refurbishment,” it said.
