NAIROBI, March 17 Kenya's East African Cables
posted a 22 percent fall in pretax profits in 2013 and
the company said it was focusing increasingly on exports to
offset weak domestic demand.
The electric cables manufacturer, which is controlled by
infrastructure firm TransCentury, said on Monday that
profit before tax dropped to 585.4 million shillings ($6.8
"The group is focused on regional diversification and
product development to expand its revenue base," the firm said
in a statement, adding it would pay a total dividend of 1
shilling per share for the year.
The company said depressed economic activity in the first
half of 2013 meant revenues edged only 5 percent higher. This
was due to anxieties over the first presidential poll since the
violence that followed a disputed vote in 2007, while world
metal prices also declined during the year.
($1 = 86.5000 Kenyan Shillings)
(Reporting by Richard Lough; Editing by Anthony Barker)