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Mumias Sugar sinks into Sh15 billion loss

Mumias Sugar Company Board Chairman Kennedy Ngumbau Mulwa(left) flanked by new Managing Director Nashon Aseka (right) during their board meeting at the miller on June 15th, 2017. [Chrispen Sechere/Standard]

Mumias Sugar Company plunged further into the red after its losses increased by 122 per cent in the financial year ending June 2018.

The cash-strapped company suffered a net loss of Sh15.1 billion compared to Sh6.8 billion in the 2017 financial year.

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