Flame Tree Group has recorded a 17 per cent increase in full year net profit to Sh179 million boosted by growth in products sales.

Earnings per share increased by 15.8 per cent to Sh. 1.10 from Sh. 0.95 the previous year. This increase was largely attributable to a 29.4% year to year rise in the sales to Sh. 2.3 billion. Flame Tree’s manufacturing arm contributed 75 per cent of the total revenue. The sales were boosted by new acquisitions made by Flame Tree in its expansion strategy. These include three brands from Beauty Plus as well as Chirag in 2014 (Miss Africa, Black Angel and Beautyplus), and colour cosmetics brand SuzieBeauty.

“We have made considerable progress on our strategic plans, to generate an 86 per cent increase in our normalised operating profits,” said Flame Tree Group CEO Heril Bangera in a statement.

 Other operating expenses though declined 31.1% in the year to Sh. 44.5m. Finance costs grew 12.2% during the year to Sh. 62.7m. The Directors of the company did not recommend a dividend for the year.