Cost of credit, forex losses eat into EA firms' profits
More than 60 per cent of listed firms on the Nairobi Securities Exchange have reported either a drop in their earnings or posted losses for the year ending December 2016. PHOTO | FILE
Regional firms have reported a drop in their earnings, pointing to a tough environment last year as they struggled with changing government policies, foreign exchange losses, increased cost of credit and depressed consumer spending.
Companies in the banking, insurance, manufacturing, energy and agricultural sectors reported a drop in their full financial year results for the past year.
