Flame Tree Holdings recently released their half-year results. In the six months period, the firm’s revenues hit KSh1.255 billion. However, their pretax profits went down by 82 percent to KSh9.6 million from KSh54.9 million in the first half of 2018.
A sharp increase in operating costs and unfavorable conditions in Ethiopia and Mozambique contributed to the weak performance.
Flame Tree group’s plastic line had its sales up by 13% with an 8 percent increase in gross profit to KSh293.5 million compared to last year’s results.
Its snack line sales went down by 15% compared to the previous half-year. The profit in the snacks business line was KSh16 million. This was due to the drought experienced in the country resulting in potato scarcity and price increase. This affected the company’s production and margins.
On the cosmetics line, it is reported to have a growth in sale of 11% compared to the last half-year period. The gross profit in the cosmetics line moved by 9%
