News Column

Tyre firm's profits on skids

August 6, 2014

NAIROBI: Kenya'sSameer Africa expected its profit to fall by at least a quarter this year mainly due to the absence of a one-off gain recorded last year, it said yesterday.

Sameer, the maker of Yana tyres, said it had booked a 255-million shilling (R30.6m) profit from the sale of some of its land last year.

But pretax profit for the first six months of this year had more than halved to 114.2 million shillings, hurt by cheap imports from China and other markets.

Cape Argus

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Source: Cape Argus (South Africa)

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