EAPCC posted full-year net loss

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Kenya: EAPCC has posted a net loss of US$4.32m for the year that ended on 30 June 2014. The company said that it had been hurt by price competition, high staff costs and the weakening Kenyan shilling. In the year that ended 30 June 2013, EAPCC posted a net profit of US$18.9m.

EAPCC said that it hopes to capitalise on the growing construction industry and plans to spend US$27.9m in the coming year on new investments. "The company has not been left behind and is aggressively investing in new machinery and equipment to increase efficiency and capacity," said EAPCC. However, it added that, "The market will continue to be highly competitive and is likely to see declining prices for the foreseeable future."

Last modified on 28 October 2014

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