Kenyan tyre maker Sameer suffered a 42 % loss in pre-tax profits recently.
Sameer said it continued to face competition from cheaper, imported tyres from Asia, a factor it had blamed for losses in 2014. Political unrest in Burundi, a regional market, also affected sales.
But Sameer said it could still deliver a full-year profit, and added that it would reduce costs by reviewing its distribution channels and other aspects of expenditure, citing a 9 percent decline in operating costs in the first six months.
“The board expects the positive results recorded in the first half to continue into the second half of the year, provided that the relatively stable macroeconomic environment remains,” Sameer said in a statement.