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Eveready East Africa fiscal H1 loss widens YOY

Eveready East Africa Ltd. said its normalized net income for the fiscal first half ended March 31 came to a loss of 27 Kenyan cents per share, compared with a loss of 5 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 56.8 million shillings, compared with a loss of 11.1 million shillings in the prior-year period.

Total revenue decreased 50.2% on an annual basis to 300.0 million shillings from 602.8 million shillings, and total operating expenses fell 38.4% from the prior-year period to 360.4 million shillings from 585.2 million shillings.

Reported net income came to a loss of 58.9 million shillings, or a loss of 28 cents per share, compared to a loss of 12.4 million shillings, or a loss of 6 cents per share, in the prior-year period.

As of May 30, US$1 was equivalent to 100.85 Kenyan shillings.