Weak shilling lifts tea companies’ half-year earnings

Workers plucking Tea. The sector's earning have been lifted by weak shilling.

Kenya’s tea companies have doubled their profits over the first-half of the current financial year buoyed by weak shilling against the US dollar.

According to financial results released yesterday by tea companies, Williamson and Kapchorua, the country’s tea industry has been one of the biggest beneficiaries of a 13 per cent depreciation of the shilling against the greenback this year.