Flame Tree Group H1 2015 Results and Performance

(Last Updated On: August 28, 2015)

NSE Chairman Eddy Njoroge (C) looks on as Flame Tree Group George Theobald (L) and Flame Tree Group CEO Heril Bangera (R) during the listing of the group to the securities exchange's Growth and Enterprise Market Segment (GEMS) at sh 8 per share. Flame Tree Group is the first local manufacturer to list on GEMS. The event was held at the NSE on November 6, 2014 DIANA NGILA (NAIROBI)

Tank maker Flame Tree Group recorded a 3.7% rise in half year profits after getting a tax credit and reducing its finance costs by 41% Net profit stood at Ksh81.2 million up from Ksh78.3 million. The tax credit received was a whole Ksh5 million due to listing at the Nairobi Securities Exchange.

The revenue was up by 43% to 1.11billion while finance cost has reduced by Ksh19.6million to stand at Ksh33.4 million. The group also acquired Chirag Kenya which is a snacks and spices maker. This has grown its revenue base and also expanded its market in the food industry. This has made it acquire Nature’s Own spice brand which is a big seller in the premium natural spice market.