Olympia Capital of Kenya Returns to Profit After Cutting Costs

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.