Kenya’s Sasini Falls for Second Day After Full-Year Profit Drops
Sasini Ltd. (STCL), a Kenyan tea and coffee producer, declined for a second day after reporting net income for the year to September tumbled 60 percent.
The stock fell 2 percent to close at 12.55 shillings in Nairobi today, adding to a 0.8 percent retreat on Dec. 9. Kenya’s markets were closed yesterday for a public holiday.
Net income slumped to 391.2 million shillings ($4.2 million) from 980.9 million shillings a year earlier, the Nairobi-based tea and coffee producer said in an e-mailed statement today. Revenue increased to 2.67 billion shillings from 2.3 billion shillings.
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