Drought eats into Sasini profits

Agricultural firm Sasini Ltd has recorded a sharp drop in net profit to Sh339.4 million for the year ended December 30, 2017.

This is compared to Sh576.9 million the company posted in a similar period in the previous year, representing a 70 per cent drop.

The listed company said yesterday in its financial statements the notable drop in profitability had been occasioned by a drought that affected tea and coffee output last year as well as political tensions as a result of an extended electioneering period.

Revenues, however, rose to Sh4.2 billion.