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Limuru Tea issues profit warning
Kenya’s tea trade is staring at an uncertain future after Pakistan — the largest buyer of Kenyan tea — asked its citizens to cut the consumption of the beverage. FILE PHOTO | NMG
Agricultural firm Limuru Tea #ticker:LIMT expects its net profit for 2020 to decline by at least 25 per cent, citing challenges heightened by the pandemic.
In a notice to shareholders on Thursday, the Nairobi Securities Exchange-listed firm said business was weighed down by low tea prices and rising cost of production amid Covid-19 economic disruptions.
