advertisement

Companies

Olympia Capital net profit falls 32 per cent

Olympia Capital's revenues dropped by 7.85 per cent to Sh228.1 million in the six months ended September 30. FILE PHOTO | NMG
Olympia Capital's revenues dropped by 7.85 per cent to Sh228.1 million in the six months ended September 30. FILE PHOTO | NMG 

Investment firm Olympia Capital after-tax profit slumped by 32.12 per cent to Sh5.5 million for the six months ended September 30 as its revenues fell.

The Nairobi Securities Exchange-listed investment company’s revenues dropped by 7.85 per cent to Sh228.1 million in the period.

Olympia Capital, formerly Dunlop Kenya, is a holding company for six firms operating in Kenya, Botswana and South Africa.

The group’s subsidiaries manufacture and sell products used in the construction industry, cleaning chemicals, water pumps and fire prevention equipment. It also has interests in real estate.

The performance has seen the company fail to declare a dividend.

The firm has in recent years faced some rows over its strategic direction and seen a number of senior-level personnel changes.

Recent departures have included non-executive director Vincent Opanga and Shyamal Bhavani, former managing director for Kalahari Floor Tile Ltd.

The company faces a multimillion-shilling claim from former CEO Kenneth Kareithi who was forced out in February 2014.

advertisement