Sameer 2012 profit more than doubles

TYRE maker Sameer forecast strong profits this year after full-year profit more than doubled in 2012 on a combination of higher sales, lower financing and raw material costs. Pretax profit jumped 103 per cent to Sh301 million and the company on Friday predicted even better results this year after a broadly peaceful election earlier this month. The company also said it expected increased sales within the five-member East African Community trade bloc which covers Uganda, Tanzania, Burundi, Rwanda and Kenya. But Sameer cautioned it faced significant pressure from cheap imported tyres...