Listed agriculture firm Sasini swung to a loss of Sh562.9 million in the year to September 2024, from a profit of Sh542.6 million a year earlier, citing inflated production and finance costs that cut its margins despite reporting higher revenue.
Sasini had earlier issued a profit warning for the earnings period, saying it faced higher than expected cost of production for all its crops, depressed commodity prices especially in the tea business and the disruptions in its logistics, following the closure of the Suez Canal which affected fruit shipments to Europe.
