East African Cables reports huge jump in profitability

Regional operating cables and conductors manufacturer, East African Cables has announced a more than 946 per cent growth on its profit before tax in its just released half year trading results.

In a classical validation of the firm’s return to profitability strategy announced earlier in the year, East African Cables efforts to grow its distribution channels through accredited dealers throughout the region appears to be paying off.

The strategy which also focused on revitalising the firm’s operations at its Tanzanian subsidiary has also registered positive recovery for the Dar es Salaam based arm which had earlier registered a huge loss.

Speaking when he announced the results, East African Cables Group CEO Mr. George Mwangi, confirmed that the turnaround adopted by the firm is firmly on course, managing to earn Kshs 249million profit before tax up from Kshs 23million registered during the same period last year.

“We acknowledge that customers are seeking more value and the winners of tomorrow must be dynamic and responsive to market trends,” Mwangi said.

source: www.nation.co.ke/business