Kenya's Home Afrika says 2014 profit to fall by a quarter

NAIROBI (Reuters) - Kenyan property developer Home Afrika Ltd said on Friday its 2014 profit would be at least 25 percent lower than the previous year, hurt by a delay in developing its infrastructure projects during the year. The firm however said it expected improved performance in the second half of this year, buoyed by revenues from new roads and development of its flagship commercial and residential real estate project in Kiambu County, near Nairobi. Home Afrika, which is listed on the Nairobi bourse's segment for small firms, posted a 73 percent drop in its 2014 first half pretax profit, while its 2013 pre-tax profit fell 22 percent. ($1 = 92.7500 Kenyan shillings)

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting