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Local tea firms Williamson Tea and peer Kapchorua yesterday reported weaker first-half pre-tax profits, and both said falling tea prices would reduce their respective full-year earnings by at least a quarter.
Williamson Tea, which shares owners with Kapchorua, said its pre-tax profit fell by 54 per cent to Sh240 million ($2.66 million), while that of Kapchorua fell 38 per cent to Sh68 million for the first half to the end of September.
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