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Eveready East Africa posts a 13% drop in pre-tax profits.
THE firm, which was recently listed on the Nairobi Stock Exchange has returned Sh166 million net profit for the year ending September 30, down from Sh186 million recorded in the previous year. The pre-tax profit during the period in review declined to Sh234 million compared to Sh269 million recorded in the previous year.
The firm's turnover also recorded marginal decline to Sh2.03 billion, down from Sh2.25 billion.
According to the audited results released recently, the company said that the overall battery market declined due to drought and other factors which reduced the consumer purchasing power. The company, however, has pledged to maintain the Nakuru manufacturing plant and look for low cost raw materials.
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