The Carbacid factory based in Industrial Area, Nairobi. Photo/FILE
Industrial gases company Carbacid on Friday reported a 3.2 per cent growth in net profit to Sh491 million helped by a lower tax charge.
The manufacturer’s pre-tax profit however declined 5.9 per cent to Sh597.3 million for its financial year ended July 31.
Total sales of the company dropped to Sh826.4 million from Sh952.8 million in the previous year, attributed to softening demand for exports as well as subdued domestic market.
Carbacid is involved in the manufacture and supply of carbon dioxide to soft drink and beer companies, who are its main customers.
The company halved its final dividend payout to 30 cents a share, down from the previous year’s final dividend of 60 cents.
Gross profit margin dropped to 58 per cent from 60.9 per cent, indicating either higher operating costs or reduced prices for the company.
Carbacid had capital expenditure of Sh300m during the year, which went to purchase of new plant, machinery, equipment and transport vehicles.
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