TransCentury Issues a Profit Warning: Is there a reason to worry?

TransCentury has issued a profit warning saying that its earnings would fall at least 25 percent in the year ending December 2017.

In a statement to newsrooms, the investment firm attributed its woes to the interest capping law and the political uncertainty that ruled 2017.

“The decrease in net earnings is attributed to… declined performance in the operating units due to delayed spending on infrastructure projects that affected our customers as result of uncertainties brought about by the prolonged electioneering period during the year,” said TransCentury in a statement Friday.

In 2016, the firm reported a net loss of 864 million shillings, on account of difficulties it faced accessing credit during the year.