Kenya Orchards Plc, a listed firm that manufactures and sells fruit and vegetable bottled and canned products for domestic consumption in Kenya, has emerged from a net loss of KSh 12.5 Million in 2020 to a net profit KSh 3.7 Million in 2021.
The firm, whose bottled product range includes fruit jams, tomato paste, tomato sauce, maple syrup, mayonnaise, custard powder, white vinegar used as a meat tenderizer and corn starch, recorded reduced revenue of KSh 49.4 Million in 2021 from KSh 57 Million in 2020.
Kenya Orchards, which issued a profit warning in 2020, appears to have emerged from its financial woes to profitability in 2021. The firm’s administrative expenses in 2021 fell to KSh 2.9 Million from KSh 7.5 Million in 2020.
Shareholders’ funds increased to KSh 23.7 Million in 2021 from KSh 20 Million in 2020.
Kenya Orchards Plc, whose head office and main operation are in Nairobi, posted a Pre-Tax Profit of KSh 3.1 Million in 2021 from KSh 1.1 Million in 2020.
As measured by Earnings per Share(EPS), the firm’s profitability improved to KSh 0.28 per share in 2021 from negative KSh 0.98 in 2020.