Nairobi, Jan. 26 -- Listed batteries distributor Eveready East Africa has issued a profit warning for the year ended September 2022, attributing it to a reversal of tax benefits of Sh38 million in the review period.

The firm said it anticipates its earnings to decline by at least a quarter, indicating that it will make a net loss larger than the Sh34.6 million it reported the year before.

"The board wishes to inform the shareholders of the company and potential investors that the company's financial net results for the year ended 30th September 2022 are expected to be lower as compared to the same period in 2021," the company said in a statement.

"The main contributor to the reduction in profitability levels in the period was the impac...