Reuters logo
Kenya tea producer Sasini issues profit warning
May 30, 2014 / 6:51 AM / 3 years ago

Kenya tea producer Sasini issues profit warning

NAIROBI, May 30 (Reuters) - Kenyan tea and coffee producer Sasini issued a profit warning on Friday after its first half pretax profit slumped 86 percent on the back of falling tea prices and a decline in coffee output.

Its profit before tax fell to 40.7 million shillings($463,800) in the six months ended March.

“Poor rainfall in the first quarter restricted production volumes of coffee,” Sasini said in a statement. “Our tea division has however met its projected production targets ... but due to poor performance in the auction fell far below the target in price realisation.” ($1 = 87.7500 Kenyan Shillings) (Reporting by Richard Lough; Editing by Edmund Blair)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below