The group's net profits grew by 70% recording Kes. 67.8 million compared to 39.9 million reported in a similar period previous year. The largest expense item seemed to stem from increased taxation which jumped from Kes. 9,837m to 29,579m in respective periods accounting a 200% increase.
The management attributed the excellent performance to broad product diversification programmes and strategic partnerships and investments in Pan-African markets. During the period, the company recorded net sales of Kes. 831 million against 531 million in the previous period.
Operating expenses increase by 45% from Kes. 180 million to 262 million recorded in December 2014.
However a look at the balance sheet of the group reveals a sluggish relation between assets and the financier of the assets.
During the period under review, the group reported an increase of 74% in liabilities from Kes. 671 million to 1,170 million in relation to previous year's records. The shareholder equity grew from Kes. 418m to 515m a 23% increase. The total assets however recorded only 54% increase to Kes. 1,686 million from Kes. 1,089 million in a corresponding period.
This indicates a higher leverage from previous year's financing sources.
The company did not recommend any interim dividend for the 6 months ended 31st Dec 2015.
The financial year of the group runs from 1st July to Jun 30th.Last modified on Tuesday, 23 February 2016