Kapchorua Tea Profit Up 27% to Ksh.399 Million

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.

Also Read: Limuru Tea Issues Profit Warning on Eroding Shilling Value

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.

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Lawrence Baraza

Lawrence Baraza is a dynamic journalist currently overseeing content at Metropol TV Digital. With a keen focus on business news and analytics, Lawrence guides the platform in delivering insightful, data-driven content that empowers its audience to make informed decisions. Lawrence’s commitment to quality and his ability to anticipate market trends make him a key figure in the digital media landscape. His work continues to shape the way business news is consumed, making a significant impact in the field.

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