Kapchorua Tea’s year-on-year Profit after Tax (PAT) jumped to 27% to Ksh.399.4 million from Ksh.314.5 million in the financial year ended March 31, 2024.
The firm attributed the uptick to the gains from operations.
The firm’s revenue was up 23.7% to Ksh.2.2 billion compared to Ksh.1.8 billion registered the previous year.
EarningsPper Share
Earnings per share saw a 27% jump to Ksh.51.04 with the Dividend per share stalling at Ksh.25.
Further, the firm’s assets saw double-digit growth to Ksh.2.9 billion during the period.
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Kapchorua declared a final dividend of Ksh.15.00 with an interim dividend of Ksh.10.00 which was paid. Additionally, the book closure date is on July 31, 2024.
“A record crop, the introduction of new technology and the consistent hard work of management combined with the depreciation of the Kenyan Shilling to secure pleasing results for the period despite a falling market.” noted the firm.
The NSE-listed firm closed today’s trading session at KSh 260.25 reflecting a year-to-date performance of 21.1%.
“Tea prices have declined to unsustainable levels in the face of market saturation and the consequences of an estimated 200 million Kgs of unsold KTDA teas, whilst the Kenyan Shilling has also stabilized. The destruction of all unsold KTDA teas and the removal of the auction minimum pricing system is needed to enable the market to return to a normal dynamic and for prospects to improve.” added the company.
