Key highlights:
1. Key gains from operational improvements and disciplined capital allocation resulting in gross profit margin improvement from 14% in 2017 to 27% in the period under review.
2. Focused cost optimization resulting in 20% reduction in operating costs, saving Kshs 169 million.
3. Traction in turn-around strategy with Kshs 74 million profits from operations (EBITDA) compared to loss of Kshs 441
million reported in a similar period last year.
4. Positive cash generated from operations of Kshs 217 million resulting from improved performance and focused
working capital management.
5. Completion of Company debt re-profiling in Q2 resulting in reduction of finance cost by Kshs 48 million at Company
level, and overall drop of 12% at Group level.
6. Strong financial position at Company level with Equity at Kshs 8,940 million.
7. Continued focus on debt re-profiling and working capital financing at operating units, with debt at a key unit fully refinanced and enhanced in early Q3.