Williamson Tea Kenya PLC announces Ksh.10 interim dividend after 76.4% profit surge

Williamson Tea Kenya PLC has reported a substantial increase in profits, resulting in an interim dividend of Ksh.10 per share for shareholders.

The company reported a 76.4% increase in profits to Ksh.655,840,000 in Q3 2023, compared to Ksh.371,755,000 in Q2 2022.

The impressive performance of Kenyan farm is attributed to continuous investment, modern technology, cost management, and diligent management, aided by the weakening Kenyan shilling.

The company’s strategy of producing sustainable, high-quality liquoring teas for global growth markets, combined with the Williamson Tea brand’s value, has secured demand in a falling market.

The company is grappling with rising costs and reduced returns, primarily due to the decline in auction prices due to large volumes of unsold tea being sold outside Kenya.

The situation presents a significant challenge for both the company and the Kenyan tea industry as a whole.

The company’s recent performance demonstrates potential for growth and profitability, despite the challenges it faces in the future.

Williamson Tea Kenya PLC’s ability to navigate the ever-changing Kenyan tea industry will be a subject of interest.

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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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