East African Cable Posts KES 244 Million Loss in 1H2020
The first half of the year was very challenging to the East African Cable plc due to the market and supply chain disruptions that were presented by the effects of the COVID-19 pandemic.
Nonetheless, the East African Cable recorded a profit in the group revenue by 8% which was attributed to the growth in volume.
The group had put in place initiatives to save on cost through the Total Performance Management (TPM) so as to continue yielding positive gains and reduce the overall expense.
East African Cables thus recorded a decrease in the overall expenses by 12% in the period ended 30th June 2020.
The directors did not recommend payment of an interim dividend.
Despite the challenges experienced in the first half of the year,East African Cables continue to identify opportunities to promote brand visibility and improve the customer experience hence the board is confident that the stakeholders of the company will yield positive results.