HomeBusiness DigestFirm exports spur Tanganda results

Firm exports spur Tanganda results

Shakeman Mugari

FIRM export performance spurred Tanganda Company Ltd to record results on the top end of analysts’ expectations with earnings per share of $42,09 (2002: $5,05) in the six months period to Apr


The businessdigest had gathered an average of $36 and a range of between $34 and $38 from five analysts.

Managing director Martin Cameron said total sales of bulk and packaged teas and bulk coffee for the six month period increased by 353% to $7,1 billion up from $1,5 billion achieved in the comparative period last year.

Exports firmed 421% to $6,3 billion up from $1,2 billion during the same period.

Cameron said exports had made a huge contribution to group earnings, representing 75% of the total turnover for the period under review.

Attributable profit rose $4,8 billion from $559 million on the back of turnover that surpassed average inflation, increasing by 353%.

A dividend of 679 (2002: 80 cents) cents was declared.

Total tea production has slightly declined by 3% while the outgrowers’ contribution plunged 34% owing to the land disruptions.

To boost the outgrower supply base, Tanganda increased inputs supply to farmers and increased tea seed plants distributed to farmers at a discount.

Recent Posts

Stories you will enjoy

Recommended reading