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Olympia Capital of Kenya Returns to Profit After Cutting Costs

July 21 (Bloomberg) -- Olympia Capital Holdings Ltd., a Kenyan maker of building materials, said it returned to profit last fiscal year after cutting costs.

Net income totaled 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. Revenue grew 7.8 percent to 666.6 million shillings, while finance costs dropped 41 percent to 12.4 million shillings, it said.

To contact the editor responsible for this story: Paul Richardson at pmrichardson@bloomberg.net

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