Car and General ups earnings threefold

Local views a new Tuk Tuk outside its supplier Car and General Sales offices in Mombasa County. [Maarufu Mohamed/Standard]

Listed manufacturer, Car and General, has posted Sh225 million in profit after tax for the year ended September 30, almost tripling the Sh79 million earned last year.

The firm, which assembles two and three-wheeled vehicles and other machinery, however, said the interest rate cap introduced two years ago has led to depressed sales volumes.