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Kenya’s Olympia Capital Jumps Most in Week on Profit Return

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July 21 (Bloomberg) -- Olympia Capital Holdings Ltd., a Kenyan maker of building materials, jumped the most in a week after the company said it returned to profit last fiscal year on cost cuts.

The shares jumped 3.6 percent to 4.35 shillings at the 3 p.m. close in Nairobi, the biggest gain since July 14.

Net income totalled 35.1 million shillings ($389,783) in the 12 months through February, compared with a loss of 14.6 million shillings a year earlier, the Nairobi-based company said in a statement e-mailed by the city’s stock exchange today.

To contact the reporter on this story: Eric Ombok in Nairobi at eombok@bloomberg.net.

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

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