Agony as Kenyan companies lose a third of profit in four years

Selected companies

NAIROBI, KENYA: In the last five years, the profits of most Kenyan companies have shrunk by a third. Consequently, managers have had to execute painful cost-cutting measures like job losses and other panic strategies to stay afloat.

An analysis by Financial Standard (FS) also reveals that 2013 was the best year for most listed companies in Kenya. Cumulatively, since 2013 when Jubilee under President Uhuru Kenyatta came to power, the 56 companies whose results FS analysed, have lost Sh61.27 billion from their earnings.