[2008-06-19]  Kapchorua Tea of Kenya Full-Year Loss Narrows; Output Declines
Kapchorua Tea Co. said its loss narrowed even after sales declined and production dropped. The company posted a loss of 69.8 million shillings ($1.1 million) in the 12 months through Dec. 31, compared with 928 million shillings a year earlier, according to a statement published today in the Nairobi-based Daily Nation newspaper. Sales fell to 575 million shillings from 610.3 million shillings. ``This was mainly due to depressed world tea prices during the year, made worse by a strong Kenyan shilling,'' the company said. Severe drought toward the end of the year cut production to 4.1 million kilograms (9 million pounds) from 5 million kilograms a year earlier, it said.
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