OUTLOOK
The Group remains strongly anchored on its competitive advantage that includes; unrivaled capacity in the Power Division and a strong pipeline of projects in the Engineering Division. Demand from our markets remains strong and we are keenly focused on growing our order book as well as ongoing work on restructuring to further adjust our cost structure. To mitigate the funding challenge outlined, the Group’s Power division continued to focus on self-funding lines of the business currently with an order book in excess of KShs 4 billion diversified across East Africa and whose execution is ongoing. On the other hand, the Engineering Division ramped up execution on its
existing order book whose revenues are projected to start coming through in the 3rd and 4th quarter 2017 into 2018.
An area of priority for the Group remains restructuring of the balance sheet to improve the capital structure and towards this end, the Board has initiated a review of various funding alternatives to support business funding requirements and maximize shareholder value.