Internet service provider, AccessKenya has recorded a 55 percent
decrease in before tax profit in the first half of this year's
financial year.
AccessKenya's before tax profit dropped to 40.1 million shillings in
the first half. According to AccessKenya the fall in pretax profit is
as a result of price reductions and a weaker Kenyan shilling which
dropped to a five year low against the dollar in the first half thus
increasing the cost of servicing their loans.
Total sales dropped by 17 percent to 876 million shillings.
AccessKenya had earlier cut the price of its internet by 80 percent
after linking to the undersea fibre optic cable.
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