NAIROBI (Reuters) - Automotive parts and engineering products distributor Car & General said rising sales on Friday pushed its full year pretax profit up 30 percent from a year earlier, but weaker local currencies in the region dampened profit growth.
Pretax profit rose to 428 million shillings, while earnings per share ticked up to 7.78 shillings for the year ended September last year, compared with 7.12 shillings in the previous year, Car & General said in a statement.
Sales rose 27 percent to 6 billion shillings.
Car & General, which has units in the three east African countries, said it had proposed a dividend of 0.55 shillings per share, compared with 0.80 a year before.
"The biggest challenges throughout the year were adverse foreign exchange movements across the region," the firm said.
Kenya's shilling was the most unstable in the region last year causing price disruptions after it fell to a record low of 107 on October 11, but has since recovered helped by the central bank's tightening stance.
The company, which sells motorcycles, three-wheelers, diesel generators, water pumps, lawnmowers, laundry equipment and air compressors, said the growth of it's Kenyan and Tanzanian businesses helped boost sales.
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