CABS profit declines

CABS posted a decline in net surplus for the six months ended June 2014 to $7,2 million from $10,6 million same period last year on the back of an increase in interest expenses.

Interest expenses rose to $17,5 million in the period under review from $13,9 million recorded in the same period last year.

Board chairman Leonard Tsumba said the liquidity challenges experienced by the economy in 2013 continued into 2014 and year-on-year inflation as at June 30 2014 was -0,08%.

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