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Atlas records Sh3 bn loss as restructuring eats into revenue

Atlas Development & Support Services CEO Carl Esprey. The UK-based company said the restructuring had significantly eaten into its margins. FILE PHOTO | SALATON NJAU

Listed logistics firm Atlas Africa Industries announced Thursday it made a net loss of Sh3.42 billion loss for the 18 months ended December 2015, largely blamed costs of discontinued operations in Kenya.

The UK-based company, which moved to shut down its Kenyan subsidiaries last December after a downturn in the oil and gas exploration sector, said the restructuring had significantly eaten into its margins.

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