Drought sinks Limuru Tea into Sh4.51 million half-year loss

Limuru Tea Company Photo:Courtesy

Poor weather conditions have sunk Limuru Tea Company into losses, condemning investors to a dividend drought.

Unaudited results for the six months of trading ended June 30, 2017, saw the Nairobi Securities Exchange-listed firm register a loss of Sh4.51 million, a 203 per cent drop in earnings from a profit position of Sh4.37 million the previous year.

Chairman Richard Korir said erratic weather conditions, especially in the first half of the year, were to blame for the loss.