Companies

Carbacid net profit jumps 22pc to Sh324m

carbacid

Carbacid Investments plant in Industrial Area, Nairobi. FILE PHOTO | NMG

Summary

  • The firm, which manufactures carbon dioxide for beverage and brewery industries, reported a Sh324 million profit-after-tax, up from Sh264 million reported in a similar period last year.

Carbacid #ticker:CARB has reported a 22 per cent jump in net profit for the year ending July 2020, making it one of the few companies to report double-digit growth in earnings amid Covid-19 pandemic.

The firm, which manufactures carbon dioxide for beverage and brewery industries, reported a Sh324 million profit-after-tax, up from Sh264 million reported in a similar period last year.

Its turnover grew 8 per cent to Sh682 million for the full year ended July 31, compared to Sh264 million in a similar period in 2019.   

The Nairobi Securities Exchange (NSE) listed firm told investors that the Group was, however, negatively impacted by an unrealised loss on equity holdings in other listed companies of Sh39 million.

The directors have recommended to shareholders a final dividend of 70 cents per share.

"The dividend shall be payable on or about 29th January 2021. The total dividend will amount to Sh178,396,390 (2019: Sh 178,396,390)," it said in a statement.