Kapchorua Tea Kenya, a listed firm engaged in the cultivation, manufacture and sale of tea, leapt from a loss-making territory to net earnings of KSh 25.7 Million at the close of its half-year ended 30th September 2021. This is compared to a net loss of KSh 12.7 Million over a similar period last year.
The firm’s pre-tax profit also hit KSh 36.6 Million compared to a pre-tax loss of KSh 16.9 Million at the end of 30th September 2020. Kapchorua Tea Turnover, however, declined to KSh 653.9 Million in H1, 2021 compared to KSh 669.7 Million at the end of September 2020.
According to the firm’s unaudited financials for the half-year period ended 30th September, its balance sheet size grew from KSh 1.8 Billion to KSh 2 Billion during the period under review. Profit arising from operating activities at Kapchorua Tea increased significantly from KSh 3.3 Million to KSh 21 Million at the end of September 2021.
Thus Kapchorua Tea Kenya’s profitability as measured by Earnings per Share rose to KSh 3.28 from a loss per share of KSh 1.62.
“The supply and demand equation remains in favour of demand with difficult trading conditions as a result. Kapchorua’s success to break into new markets is to be welcomed and this has resulted in increased demand and better prices. We are confident that the quality of tea made at Kapchorua will remain consistently good and trust that demand increases in line with this effort,” said a statement from the firm’s Board of Directors signed by G.K Masaki, the Company Secretary.
Shareholders’ wealth in Kapchorua Tea grew from KSh 1.3 Billion to KSh 1.4 Billion during the period under review. Williamson Tea Kenya Plc
While Kapchorua Tea Kenya Plc is back to profitability, it has been mixed fortunes for Williamson Tea Kenya Plc , a majority shareholder in Kapchorua with a 39.56% ownership as of 31st March 2021. The listed tea dealer had a decline in revenue to KSh 1.3 Billion for the six months ended 30th September 2021 compared to KSh 1.9 Billion over a similar period in 2020. Williamson Tea Pre-Tax profit declined from KSh 45.2 Million to a pre-tax loss of KSh 3.3 Million in H1, 2021.
Net loss for the period is KSh 7.8 Million from a Net Profit of KSh 33.9 Million for the six months period ended September 30th, 2021. The firm recorded a loss per share of KSh 0.63 […]
