Group Revenue reduced for the year 2015 from Kshs.1.22B to Kshs.1.19Bn.
The Group recorded a loss of Kshs.78million which was an 58% improvement from the previous year. Most of this according to the comments of results was attributed by the Kenyan shilling depreciating against the dollar for the year 2015 thus increasing the company’s finance cost for the year stated.
The Group’s Non Current Assets showed an increase from Kshs.166.7M to Kshs.871.045M. This is from the increase in prepaid lease expenses from Kshs.198,000 to Kshs.691.623M. There was also an increase in deferred tax from Kshs.126.956M to Kshs145.957M.
However, Group current Assets declined from KShs.763.357 M to Kshs.690.626M. From the statements, there was an increase in current tax receivables with a decrease in inventories, trade and other receivables and cash and cash equivalents.
There is an increase in Shareholders funds from Kshs.218.465M to Kshs.806.288M.Despite this increase, the directors deemed it not suitable to have a dividend payment.
Non Current Liabilities decreased from Kshs.139.301M to Kshs.54.071 M. There was an increase in the Current Liabilities from KShs.572.291 to Kshs.651.306.
From the Cash flow Statement, there is an increase in operating activities from KShs(146.233M) to Kshs.1.196M which could be attributed from the cash flow from operations.
There is also an increase in investing activities from Kshs.(11.134M) to KShs.56.213M. There was disposal of property, plant and equipment which could have contributed to this.
Cash flow from financing increased from Kshs.(2.364M) to Kshs.(57.083M). Thus there was a total cash movement in the year from Kshs.(159.731M) to Kshs.326,000.
The Annual General Meeting will be on Thursday, 16th April 2016 at 11am at Merica Hotel, Nakuru.
For more information: