[2008-08-17]  Eaagads Loss making trend continues in 2008
Eaagads Limited, a Kenyan based NSE listed company that runs a coffee estate announced their interim financial results for the six months ended June 30th, 2008. Eaagads reported a loss after taxation of KES 13 million in the first half of 2008. In the first half of 2007, Eaagads reported loss after taxation of KES 10 million. Total turnover increased by 7.92%, from KES 25 million reported in first half 2006 to KES 27 million reported in first half 2008.

Cost of Sales in 2008
Eaagads’ cost of sales rose by 11% from KES 33 million in first half 2007 to KES 37 million in first half 2008. Administration expenses decreased by 39 percent, with approximately KES 4.5 million spent in the first half 2008 compared to KES 3.2 million in the first half 2007. Eaagads operating loss for the period was KES 15 million, which is 26% more that their first half operating loss of KES 6 million in 2007. Sundry income for the 2008 period was KES 2 million, compared to KES 1.6 million reported in the first half of 2006.



Source: NAIROBSIT