In Summary
  • In the half year ended June, sales revenue fell by more than a third to Sh29.35 million from Sh42.75 million in a similar previous period.
  • During this period, the company produced 1,138 metric tonnes of green leaf, which yielded 267 tonnes of made black tea.
  • This was a five percent increase in tea volumes compared to the first half of last year.

Listed agricultural firm Limuru Tea sunk into Sh18.15 million loss in the first six months of 2019, being seven times more the loss posted in a similar period last year, due to falling prices of green leaf.

In the half year ended June, sales revenue fell by more than a third to Sh29.35 million from Sh42.75 million in a similar previous period, putting pressure on the bottom-line.

“This decrease in the first half of 2019 is due to deepening market prices experienced in 2019,” Chairman Richard Korir said in a comment on the performance.

During this period, the company produced 1,138 metric tonnes of green leaf, which yielded 267 tonnes of made black tea.

This was a five percent increase in tea volumes compared to the first half of last year. However, the declining tea prices meant that the firm could not fetch higher revenues on this increased output.

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