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Kenya's Rea Vipingo posts 32 pct fall in H1 profit
May 30, 2014 / 7:07 AM / 3 years ago

Kenya's Rea Vipingo posts 32 pct fall in H1 profit

NAIROBI, May 30 (Reuters) - Kenyan agricultural firm Rea Vipingo reported on Friday a 32 percent fall in first half profit to 191.5 million shillings ($2.18 million).

The producer of sisal, a source of fibre used to make rope, twine and other products, said its Kenyan estates had performed well but those in neighbouring Tanzania were hurt by operational difficulties related to erratic water and power supply.

“Sisal fibre prices ... will remain at satisfactory levels for at least the remainder of the current financial period,” Rea Vipingo said in a statement. ($1 = 87.7500 Kenyan Shillings) (Reporting by Richard Lough; Editing by Edmund Blair)

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