Carbacid registers slight drop in after-tax profit to Sh375.5m
The Carbacid factory based in Industrial Area, Nairobi. PHOTO | FILE
What you need to know:
Carbacid took a hit from the bear run at the NSE in the review period, with its unrealised losses on listed shares at Sh31.1 million.
The company’s trading division, which mines and sells carbon dioxide, saw its sales rise 2.7 per cent to Sh831.7 million.
Industrial gases manufacturer Carbacid Investments recorded a 4.6 per cent drop in net profit for the year ended July on reduced market value of its equity investments and absence of property gains booked in the prior year.
The company’s net earnings in the period stood at Sh375.5 million compared to Sh393.8 million the year before when its property holdings was revalued upwards by Sh32.5 million.
Carbacid also took a hit from the bear run at the Nairobi Securities Exchange (NSE) in the review period, with its unrealised losses on listed shares at Sh31.1 million.
