Kapchorua Tea’s half-year profit increased by 110.45% to KES 100.41 million compared to KES 47.71 million which was reported in September 2014. Weak Kenyan shilling and implementation of cost control measures boosted the growth in profit.
The company’s turnover slightly dipped by 0.02% to KES 525.74 million compared to KES 525.85 million reported in September 2014. According to the management, this was because crop levels were slow to come back after a dry start of the year.
Asset base grew by 6.48% to KES 2.11 billion from KES 1.98 billion due to revaluation of its tea bushes.
The company’s management said that the arrival of the short rains would lead to favourable crops and was bound to lead to decline in current tea prices and could therefore negatively impact results in the second half of the financial period.
For more information:
Kapchorua Tea Half-year results -Download
Weak shilling lifts Williamson, Kapchorua tea profits – Business Daily