Sameer Africa has issued a profit warning for the full-year period ending December 31, 2023, citing the depreciation of the shilling against major global currencies, which it says has seen it incur substantial foreign exchange losses.
The firm anticipates its net profit for the period to drop by at least 75 percent, meaning it will not surpass Sh25.1 million. The company had posted a net income of Sh100.3 million in the prior year that ended in December 2022.
