Kenyan tea firms' profits slide, weighing on economy

Kenya's Williamson Tea and Kapchorua Tea both posted a slide in annual profits on Monday with little imminent prospect of a pick-up, the latest firms to highlight a downturn in a valuable industry for the east African nation. Williamson's pretax profit fell 10 percent to 1.04 billion shillings ($11.9 million), while Kapchorua Tea's dropped 29 percent to 182 million shillings. "The new financial …

Brought to you by Yahoo! News. Read the rest of the article here

Speak Your Mind

*