Kenya: Profits to Fall, Cautions Car Dealer CMC

5 October 2011

Motor dealer CMC Holdings has warned that its profits will drop by more than 25 per cent for the year ending September 2011.

In a statement published in the local dailies, CMC cited a volatile business environment, depreciation of the Kenya shilling, a deliberate decision by the firm to write off historical bad debts and low sales.

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