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Eveready Gains for Fourth Day on Plans to Expand Product Range

Eveready East Africa Ltd., a Kenyan dry-cell battery manufacturer, gained for a fourth day on new product plans, the longest winning streak since March.

The stock rose as much as 5 percent to 3.1 shillings and traded 1.7 percent higher at 3 shillings as of 12:01 p.m. in the capital, Nairobi.

Eveready is counting on an expanded product range that includes energizer batteries, Schick razors and shaving foam to help reverse declining sales, Business Daily reported today, citing Managing Director Steve Smith.

The company said last week profit in the 12 months through September may decline because of increased global metal prices and rising financing costs following the depreciation of the Kenyan shilling.

To contact the reporter on this story: Johnstone Ole Turana in Nairobi at jturana@bloomberg.net.

To contact the editor responsible for this story: Antony Sguazzin in Johannesburg at asguazzin@bloomberg.net.

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