...and I'm not ashamed to say it.

Despite challenging economic conditions globally and the drought locally, the Company took proactive measures to protect and grow its business. Sales in all the divisions increased and group turnover was up by 11%. The Company maintained its gross margins at 36% through further operational efficiencies. Profit after tax grew by 28%'

http://www.nse.co.ke/new...0/Announcements/ARM.pdf

Shame on them,what were they thinking getting involved in corruption and stealing from poor kenyans.A big scar on their corporate image.So can they now strip gains from illeguraly acquired raw materials from their accuonts..we want to see the real picture..LOL.

I had so much hope for this company,and in fact I am very well invested in it.If the management has become rotten,I expect a lot of pain to investors in the future.

Wololo yaye - before I throw a stone, please provide a link/source. I've not found these allegations on the web.

Yes these ARM guys are another bunch of shameless thugs....WEZI!... Ruto move with speed and shutdown this factory as investigations and arraigning of the culprits in a court of law. They steal govt of Kenya branded fertilizer and repackage it as their own..... what punishment befits such a listed company?

http://www.youtube.com/watch?v=wsgaAj_HbTA

This is really pathetic...there are just too many scandals in this country due to the love of money which is the root of all evil.
@VVS ,
If so, why has the ARM MD not come out to set the record straight ?

@chaka - ARM's MD is in London for business/personal reasons... I am sure he is aware of the situation & will respond after he returns & investigates

At least 3 other Kenyan CEOs were in London for an investment conference to promote their companies & Kenya.

VVs 2 wrongs dont make a right ...if the politicians are stealing ,.. should public listed companies also steal from public (taxpayers/investors)? ...this is the line of thought that middle class should stop if we are to win war on graft....

....will take MD political responsibility for the mess by the employees.... if what you are saying is true...

@wendz @fundaah

I am a shareholder.

No double standards...

1) Employees of ARM should be fired if they are stealing from ARM. They cant be fired by ARM for stealing from GoK. It does not sound right but legally ARM would have a problem with COTU & unions... Unions dont let ARM fire employees even if they steal unless a 'package' is negotiated.

2) Of course, the MD has to know what is happening... BUT the point is being personalized from ARM to MD... The initial question/accusation was ARM was doing it... and it is not...

3) Unlike the MD for ARM (who owns 40%+ of ARM) the minister does not have any ownership of the ministries.

4) The MD can be removed by shareholders for under-performance by the Board &/or shareholders. kibaki never fires corrupt ministers. He appoints them too... Using the logic... shouldnt kibaki resign? (Erm, I think he should have...)

@wendz - What do u do for a living?

Ati, 'control systems'... please these employees are Kenyans... who are almost as innovative in stealing as Nigerians...

If u can fake Title Deeds, Passports, IDs... what is 're-packaging' using stolen sacks?

These same Kenyans (I am acting like I am not one... LOL) steal electricity transformer oil, transformers, poles!!! So what is re-packaging?