Kapchorua, Williamson pretax profit drops

TEA firms Kapchorua and Williamson Tea said yesterday their pretax profit slumped in the first-half ended September due to a jump in costs. Williamson Tea, which shares owners with Kapchorua, said its pretax profit fell 63 per cent to Sh398 million from Sh1.07 billion in the same period last year. Kapchorua's profit before tax for the period fell 43 per cent to Sh106 million from Sh187 million. Both firms said costs had soared due a rise in the price of raw tea, power, fuel, higher selling and distribution costs and a 12 per cent rise in wage costs.