TPS Eastern Africa swings back to profititability

TPS Eastern Africa has swung into a pre-tax profit of Sh325.3 million ($3.15 million) in 2016 from a loss of Sh211 million the year before.

This was helped by higher revenues and a jump in its core profit. Earnings before interest, tax, depreciation and amortisation jumped 78 per cent to Sh983.64 million, while revenue rose to Sh6.47 billion from Sh6.19 billion.

 It said in a statement performance was helped by improved security in Kenya and the region.