Financial Perfomance

The company has been in the verge of improved performance after suffering the impact of trade liberalization and worsening economic environment in the 1990s. By year 2003 the turnover was Kshs. 274.45 million.

In 2005 turnover rose nominally to Kshs 291.2 million rising to Kshs. 396.7 Million in 2006. We project this turnover to increase to Kshs. 1,424.4 Million in 2007 with the plans to procure a new tile manufacturing plant at a cost of US$ 1 million through the parent company Olympia, in 2007. This will enhance the company's manufacturing efficiency and thus dominate the local market as well as the EAC region with price competitive products.

In 2001, Olympia Capital Holdings Limited got the opportunity to purchase controlling shareholding in Kalahari Floor Tiles (pty), a Botswana manufacturing company. To finance this transaction OCCL, a special purpose vehicle that had been established to buy KFT, put in equity of US$ 100,000 and borrowed from Rikett As - China Limited US$ 500,000.00. In 2005, the bank loan had been paid and OCCL was listed on the Venture Capital Board of the Botswana Stock Exchange. The IPO was 73.28% oversubscribed.

In 2006, the company purchased 27.5% of Avon Rubber Co Kenya Limited; a Nairobi based Property Company by way of converting short term advances. In December 2006, OCCL acquired 74% of the issued share capital of Plush Products Limited, a South African manufacturing company.

In March 2007, OCCL had a very successful Rights Issue on the BSE, essentially doubling its share capital and attracting institutional investors. Investec Asset Management Company underwrote part of the rights issue.

On 13th August 2007, Olympia Capital Corporation Limited (OCC), registered in Botswana and that has been quoted in the venture capital board of the Botswana Stock Exchange, since 9th February 2005, migrated to the main board of Botswana Stock Exchange.