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Kenya

Carbacid Investment Profit Hits Sh427mn For the Year Ended July 31

NAIROBI, Kenya, Nov 24-Carbacid Investment has announced a profit before tax of Sh427 million for the year ended July 31, 2020, marking a 13 percent increase from the Sh377 million posted a year earlier. 
In a statement, the group’s board secretary N P Kothari however said the firm was negatively impacted by an unrealized loss on equity holdings by listed companies of Sh39 million.
“Turnover increased by 8 percent while operational and administrative costs are being controlled,” said Kothari.
Further, the group noted that its net operating cash remained healthy at Sh389 million.
The directors of the company have recommended a final dividend of Sh0.70 per share to its shareholders.
“The directors have resolved to recommend to shareholders that a final dividend of Sh0.70 per share on the issued share capital be declared payable to those shareholders registered at the close of business on 9th January, ” reads the statement.
“The dividend shall be payable on or about January 29th 2021. The total dividend will amount to Sh178,396,390,” Kothari added.
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