Eveready East Africa Ltd Made a profit of Sh78 million in 2015 compared to a loss of Sh177 million in 2014.
The company net profit after tax was Sh587 million up from the loss of Sh177 million in 2015.
This includes the Sh665 million from the revaluation of company assets.
Speaking at the company's Annual General Meeting, company chairperson Lucy Waguthi Waithaka said that the introduction of four new items, two of which were currently in the market, had boosted the company’s profitability.
“We introduced TURBO brand of quality car batteries and the Eveready brand of household bulbs as well as the piano range of writing instrument. We also entered into a partnership with Clorox sub-Saharan Africa ltd and we look forward to introducing more products in the market,” she added
Waguthi however said that the board had not recommended the payment of a dividend in line with their current focus which was to invest in diversification.
The company MD Jackson Mutua said that the instability of the Kenyan shilling eroded the company's Sh104m.
“Upon re-evaluation of the company’s assets the profits for the year attributable to the owners of the business is Sh627 million,” he added.
“Our retail automation programme is on course which means that we will transform the field in customer and consumer insights,” he added.