Eveready sinks into loss after factory closure

Eveready East Africa spent Sh110 million to pay off nearly 100 employees that were laid off following the closure of its Nakuru plant, contributing to a Sh177.5 million loss the battery maker made in the financial year ending September.

The battery maker on Friday reported that it also incurred Sh136 million on writing off manufacturing assets, pushing it into losses compared to the previous year’s net profit of Sh45 million.