Companies

Sasini back to profit amid Covid woes

SASINI-0611

Some of the Sasini products. FILE PHOTO | NMG

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Summary

  • Trading results for the financial year ended September 2020 show that the Nairobi Securities Exchange-listed firm recovered from a Sh337.74 million net loss to a net profit of Sh12.61 million.
  • The return to profitability came in the period in which revenues rose by 48.4 percent to Sh4.14 billion supported by increased exports and reduced operational costs.

Agricultural firm Sasini #ticker:SASN has bounced back to profit on the back of increased revenues and reduced costs, defying the Covid-19 disruptions that had cut market for products like macadamia.

Trading results for the financial year ended September 2020 show that the Nairobi Securities Exchange-listed firm recovered from a Sh337.74 million net loss to a net profit of Sh12.61 million.

The return to profitability came in the period in which revenues rose by 48.4 percent to Sh4.14 billion supported by increased exports and reduced operational costs.

Sasini said the use of machines in tea harvesting helped cut administrative expenses by 13 percent, helping take pressure off the bottom-line despite operational challenges brought about by Covid-19.

“The initiation and complete roll out of mechanisation in tea harvesting helped the company to tackle the ever-rising cost of production in our tea business,” said the firm.