Williamson Tea Kenya Plc has issued a profit warning indicating that its earnings of the financial year ending 31st March 2019 are expected to be at least 25% lower than that of financial tear ended 31st March 2018.
The tea company cited uneven and unpredictable weather patterns and the inability to control the aggressive and rising labour costs and lower prices fetched during the period due to the market forces of supply and demand.
The board of directors and management hinted on taking appropriate cost cutting measures on the high employee numbers, whose expenses have increased over time.
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Kapchorua Tea Issues Profit Warning
