(Last Updated On: August 28, 2015)
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.