Kapchorua Tea registered a 27% year on year increase in Profit after Tax (PAT) to KSh 399.4 million from KSh 314.5 million in the financial year ended 31st March 2024. The uptick was on the back of increased revenues and 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. 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 during the period to KSh 2.9 billion. 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 31st July 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.
See Also:
Kapchorua Tea posts Half-Year Earnings of KSh 25.7 Million from loss territory, Williamson Tea Reports loss
