NAIROBI (Reuters) - Kenya's Pan Africa Insurance Holdings issued a profit warning on Wednesday, saying profit after tax fell by at least 25 percent last year.
The company, controlled by South African insurer Sanlam, said the fall in profits compared with the previous year was mainly due to "unrealised mark-to-market gains on equity investments, which did not repeat to the same extent in 2014".
Pan Africa said profits were also heart by lower earnings from property sales, which declined in 2014 compared to the year before.
No comments:
Post a Comment