Nairobi Securities Exchange-listed agriculture firms Williamson Tea Kenya and Kapchorua Tea expect their profits to fall by at least 25 percent following an international oversupply of tea that saw prices plunge and the withdrawal of one of the country’s top tea buyers.
The two firms on Wednesday both issued profit warnings, meaning that their profits will not exceed Sh299.5 million for Kapchorua and Sh395.2 million for Williamson, going by their profits reported last year.
