Some of the coffee and tea brands marketed by Sasini. The firm has has reported a 61 per cent rise in after-tax profit for six months ending March 2013. Photo/File
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The tea and coffee producer announced Sh200 million net profits compared to Sh125 million made a similar period last year, buoyed by increased production and sales of tea and coffee.
Agricultural firm Sasini has reported a 61 per cent rise in after-tax profit for six months ending March 2013.
The tea and coffee producer announced Sh200 million net profits compared to Sh125 million made a similar period last year, buoyed by increased production and sales of tea and coffee.
The performance was bolstered by improved rainfall patterns and better tea prices.
"The increase in profits is largely as a result of higher production and sales volumes for tea and coffee and also improved tea prices," the company said in a statement.
The results were however negatively impacted by significantly lower coffee prices and the effects of a stronger Kenya shilling, the firm said.
The company's gross revenues grew to Sh1.47 billion from Sh1.37 billion made in the previous year, however increased cost of labour, power and agricultural inputs eroded margins.
"Frequent power outages, which were as high as 12 per cent have necessitated increased use of expensive diesel generators," it said.
The company has declared interim dividend payout of 25 cents per share, down from 50 cents last year.
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