Another vvs production;

https://www.businessdail...869114-lxvuu/index.html

Williamson Tea Kenya has sunk into Sh85 million net loss for the half year period ended September 2018 on depressed tea prices, down from the previous year’s profit of Sh43.4 million.
Finance costs hit Sh43.2 million, reversing the Sh24 million booked last year as finance income.

At the same time, the firm took a Sh43.2 million hit as share of loss from its associated companies. This was about six times larger than the Sh7.7 million loss from associates in the previous half year period.

The losses were booked despite increased tea production due to favourable weather conditions lifting turnover by 13.4 per cent to Sh1.97 billion from Sh1.73 billion booked in a similar period last year.

Operating profit fell by 40 per cent to Sh16.78 million on higher costs. Fair value of biological assets, mainly made up of value of tea growing in the farm, dropped by Sh50.2 million reflecting depressed prices of the commodity.