Kenyan East African Cables posts 66% growth in 2012 net profit.

By bne IntelliNews February 26, 2013
Kenyan electric cable maker East African Cables (EAC) said its net profit grew 66% last year to KES 522.1mn (EUR mn), driven up by higher exports, production efficiency, lower costs, more stable regional currencies and improved earnings performance of its Tanzanian unit. The companys revenue fell 14% y/y to KES 4.3bn due to reduced activity with the local utilities and a decline in London Metal Exchange prices. EAC, which is listed on the Nairobi Securities Exchange, is majority-owned by Kenyan infrastructure-focused investment firm TransCentury.

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