Miller earnings increase by 31pc

Kenya's oldest miller, Unga Group, reported Sh621.9 million after-tax profit for the full year ending June 2015 helped by increased sales.

The Nairobi Security Exchange (NSE) listed miller has announced that its profit during the review year increased by 31 per cent, while its revenue also grew marginally to hit Sh18.7 billion.

 Unga's performance was slowed by high financing costs that doubled to stand at Sh40.2 million from Sh26 million. The group's operations were also affected by foreign exchange losses, which increased to Sh186.4 million, up from Sh15.8 million recorded the previous year. Unga's board has recommended a first and final dividend pay-out of one shilling per every ordinary share held, 25 cents above the amount paid over the last two years.