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Kenya

Carbacid Investments 2018 profit drops by Sh54m

NAIROBI, Kenya, Oct 29 – Carbacid Investments has posted a profit of Sh298 million for the year ending June 2018 compared to Sh352 million in 2017, a 15pc decrease.

The profit dip came on the backdrop of increased operational and administrative costs and a loss in equity investments.

“This was a challenging year with increase competition and market challenges,” said the Company Secretary, Nalin Kothari.

However, net cash generation from operating activities remained relatively stable at Sh296 million compared to Sh352 million in the previous year.

The Board of Directors has recommended a final dividend of 70 cents per share.

Carbacid Investments main subsidiary is Carbacid (CO2) Limited, a company that produces and markets carbon dioxide gas.

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