Tuesday, 9 December 2008

Eveready East Africa Ltd profits before tax fell 91%

Eveready East Africa Ltd., Kenya's largest maker of dry cell batteries, fell 91%percent because of increased competition and post-election violence.

Net income for the year ended Sept. 30 declined to 17.84 million Kenyan shillings, or 0.085 shillings a share.

The Company saw an 18% reduction in revenues for the 1st six months of the year. The short fall was caused by unfair competition from large quantities of zero rated duty imports of very low priced batteries

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