Uganda polls hurt Kenyans’ car sales

Kenyan car retailer CMC Holdings posted a small drop in net profit in its first half to the end of March, hit by slower sales and rising costs as it raised debt provisions, the company has said. The company’s net profit fell 0.7 per cent to Kshs187.6 million (US$2.19 million) in spite of a slight increase in pretax earnings to Kshs274.3 million.

“Expenses for the period are 18.7 per cent more than the previous period mainly due to a more aggressive doubtful debts provisions policy

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