UPDATE 1-Kenya's Sameer Africa issues profit warning

Newswire

(Adds details) NAIROBI, May 26 (Reuters) - Kenyan tyre maker Sameer Africa warned investors on Monday it expected a "significant" decline in profits this year due to Kenya's post-election violence and rising prices for petrol and tyre inputs. The company said its production costs had increased by 20 percent since the beginning of the year. It said this trend would continue to affect volumes and profits. "This is to inform our shareholders and the general public that we anticipate to ...

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