Eveready swings back to full-year profitability

DRY CELL battery maker Eveready yesterday said cost cutting helped the group return to a pretax profit of Sh69 million for the year to the end of September from a loss in the previous financial year. The cost reductions led to a 4 per cent improvement in its gross margin, while revenue was stable at Sh1.4 billion. A recovery in the Kenyan shilling against the dollar led to an unrealised gain of Sh50 million that was partly offset by higher financing costs, Eveready said...