Sasini net profit down to Sh45.4m on lower tea prices
Agricultural firm Sasini saw its net profit halve in the year ended September on lower tea prices amid a global glut of the commodity. Its net profit in the period stood at Sh45.4 million compared to Sh91.6 million the year before.
Despite the reduced earnings, the company proposed a dividend of Sh0.25 per share maintaining last year’s pay-out.
“The decrease in the profit is largely as a result of significant lower prices of tea and lower production volumes of coffee in the year under review,” the firm said in a statement.