Thursday, December 15, 2005
Weak Tea
Sister companies, Kaphcorua Tea and Williamson Tea, both reported losses for the six months ending in September 2005. Turnover was down by 8% to 206m at Kapchorua and by 13% to 526 million at Williamson and operational loss at both companies was 4m and 7m respectively. The loss before tax was 28m at Kapchorua and 53m at Williamson for the six months. The companies attributed the losses to oversupply of tea in the international markets and reduced margins caused by a strong shilling, with a warning that losses will continue until the shilling weakens. This follows a bad year for Sasini Tea as well.
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3 comments:
Must say your blog is a daily must read! Good job!
I was just reading an article the other day that discussed how under WTO rules, Kenya is forced to sell its coffee beans at 12 US cents a kilo. But a kilo can make 200 cups of coffee, which can be sold for US$600 in western countries. Keeping in mind that 70% of the world's poor works off the land, such trade practices basically destroy the livelihood for those working the fields in 3rd world countries.
Hey, great update, am looking to buy some of these shares and this was great information. Keep it coming.
Hey, When I saw your post I thought you were talking about gashai that hasn't shikad majani nicely. tihihihi! ok, pole. Lakini I have a swali...how come my blogs don't show on Nchi Yetu Daily? I want!! Help techie. :-(
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