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Kenyan tea producer Sasini swings to first half loss
May 14, 2015 / 8:47 AM / 3 years ago

Kenyan tea producer Sasini swings to first half loss

NAIROBI, May 14 (Reuters) - Kenyan tea and coffee producer Sasini posted a first-half loss of 131.4 shillings ($1 million), from a 40.7 million shilling pretax profit a year ago, hurt by slowing revenues but gave no reasons for the slump.

It said in a statement issued late on Wednesday, Sasini said total revenue for the six months to end-March fell to 1.27 billion shillings from 1.38 billion shillings.

It posted a loss per share of 0.42 shillings for the period versus EPS of 0.10 shillings a year ago.

Earlier this year, Kenya’s leading tea-producing group said weeks of drought in major growing areas had driven down tea output and processing factories were receiving fewer deliveries from fields each week.

$1 = 96.0000 Kenyan shillings Reporting by George Obulutsa; Editing by James Macharia

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