[2008-08-17]  Kenya Orchards Reports Turnover Drops in 2008 Half Year Results
Kenya Orchards posted a net profit of KES 1.3 million, for the first six months of 2008. In the same period last year, Kenya Orchards reported a loss of KES 623, 304. Turnover fell 56% to KES 24.4 million from KES 55.5 million, while Gross Profit fell 79%. Administrative expenses increased by 16% while finance costs dropped by 99%.

Other Financial Items - Trade and Other Payables
As at June 30, 2008, Kenya Orchards had Trade and other payables of KES 36 million, down from KES 38 million a year earlier. In the same period Cash and Cash equivalents dropped from KES 359,594 to KES 32565. Inventory dropped by 30.58% to KES 13 million in the first six months of 2008 compared to the same period in 2007.

Source: NAIROBIST