Bankele reports on the Express Kenya General assembly that took place a few days ago” The annual general meeting of Express Kenya was held on August 7 2009 at the Norfolk hotel.

The transport company had a decline in sales to 803 million ($11 million) down from (922 million in 2008) and it’s four year profit streak was snapped as it lost 53 million ($700,000) before tax, down from a profit of 112 million the year before..”

Their 2009 outlook is the following:”2009 outlook They noted that in the half year of 2009, sales and profits are ahead of budget; the company has undertaken efficiency measures taken include installation of vehicle fleet management & tracking system, outsourcing of some services, investment in new vehicles to support contracts, increase in warehouse utilization etc. By y year end they project to have a profit which will be distributed as follows: to pay down overdraft (31%), new investments (29%), dividend (25%) and cash flow (15%”

Go onto Bankele site to read the shareholder Q&A and  more