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Turnover INTERIM FINANCIAL STATEMENTS UNAUDITED GROUP RESULTS FOR THE SIX MONTHS ENDED 30TH JUNE 2016 The Board of Directors of East African Cables Ltd announces the unaudited results for the six months ended 30th June 2016 Condensed Statement of Comprehensive Income for the six months ended 30 June 2016 Group 2016 Group 2015 Company 2016 Company 2015 Kshs’000 Kshs’000 Kshs’000 Kshs’000 2,102,282 2,044,239 1,926,425 1,638,577 Profit from operating activities Interest expense Foreign exchange gains / (losses) (Loss) / Profit before tax Income tax expense (Loss) / Profit for the period 7,699 (87,768) 33,871 (46,198) 14,733 (31,465) 48,560 (30,386) (115,739) (97,566) 26,632 (70,934) 99,911 (87,768) 42,431 54,574 (16,375) 38,199 96,254 (29,604) (28,323) 38,327 (11,498) 26,829 (Loss) /Profit from operations attributable to: Equity holders of parent company Non-controlling interest (Loss) / Profit for the period Basic and Diluted Earnings per share (Kshs) 2,951 (34,416) (31,465) 0.01 (26,762) (44,172) (70,934) (0.11) 38,199 38,199 0.15 26,829 26,829 0.11 Assets Non-current assets Current assets Total assets Condensed Statement of Financial Position as at 30 June 2016 Group 2016 Group 2015 Company 2016 Company 2015 Kshs’000 Kshs’000 Kshs’000 Kshs’000 5,442,354 2,569,071 8,011,425 3,992,531 3,448,636 7,441,167 3,632,124 2,404,418 6,036,542 2,803,762 2,840,778 5,644,540 Equity and liabilities Share Capital Reserves Non-controlling interest Non-current liabilities Current liabilities Total equity and liabilities 126,563 2,319,197 656,340 1,976,540 2,932,785 8,011,425 126,563 2,094,956 594,129 1,472,336 3,153,183 7,441,167 126,563 1,790,323 1,692,173 2,427,483 6,036,542 126,563 1,709,087 1,198,469 2,610,421 5,644,540 Condensed Statement of Cash flows for the six months ended 30 June 2016 Group 2016 Group 2015 Company 2016 Kshs’000 Kshs’000 Kshs’000 Cash generated from operating activities 287,878 (144,067) 294,770 Company 2015 Kshs’000 (55,860) Cash used in investing activities Cash used in financing activities Decrease in cash and cash equivalents Cash and cash equivalent at 1 January Cash and cash equivalent at 30 June (184,555) (40,990) 62,333 (88,820) (26,487) (118,567) 513,918 251,284 (292,827) (41,543) (167,543) (68,683) 58,544 (91,813) (33,269) (109,270) 401,016 235,886 (284,534) (48,648) Condensed Statement of Changes in Equity for the six months ended 30 June 2016 Group 2016 Group 2015 Company 2016 Share capital Kshs’000 126,563 Kshs’000 126,563 Kshs’000 126,563 Share premium 545 545 545 Revaluation reserve 1,712,620 925,556 1,065,943 Revenue reserve 714,375 1,244,682 723,835 Exchange reserve (108,343) (75,826) - Total equity attributable to equity holders of company 2,445,760 2,221,520 1,916,886 Company 2015 Kshs’000 126,563 545 561,993 1,146,549 1,835,650 Non-controlling interest Total Equity 656,340 3,102,100 594,129 2,815,649 1,916,886 1,835,650 Commentary Revenue and net earnings from our Kenya operations grew by 18% and 42% respectively, driven by increased demand from local utilities for Last Mile Connectivity projects. Despite, our Tanzania operation’s decreased performance in the period, the group recorded growth of 3% in revenue and 56% improvement in net earnings partly attributable to progress made on collection of receivables impaired last year. Cash generated from operations improved by Kshs 431 million attributed to efficient management of working capital. Dividend The Board of Directors do not recommend payment of an interim dividend. Outlook With a healthy current order book, our Kenya entity is poised to report improved performance in the current year despite increased finance costs and high depreciation charge arising from recently installed capacity. Overall, we expect the group to report improved performance by the end of the year and continue on a growth trajectory going forward. By Order of the Board Virginia Ndunge Company Secretary Nairobi 29th August, 2016

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