Avocado segment’s half year profits fell significantly from Sh951 million reported in first half 2024 to Sh395 million.
“The international avocado market has been well supplied with price level reflecting this situation. Last year, the markets were undersupplied during the same period with a corresponding higher price,” the company said in the commentary accompanying the interim results.
The company has exported 801,840 cartons of avocados primarily to the European markets, which are also being supplied by other avocado producing countries such as Peru, South Africa and Columbia.
The macadamia segment recorded a ten-fold growth in half-year profits with profits growing from Sh32M in half-year 2024 to Sh319M this year.
“The macadamia market is buoyant and exhibiting strong demand. Pricing reflected this sentiment with further gains over the period, compared to last year. The half-year profits for macadamia have significantly improved, with 50 per cent of the anticipated production already committed for sale,” the company said.
The blueberry segment, which started in 2019 as part of produce diversification efforts by the company, recorded a half-year profit of Sh13 million compared to Sh17 million loss recorded during the same period last year.
Tea segment widened its losses from Sh3.5 million posted last year to Sh27.5 million due to lower prices.
The company did not recommend payment of an interim dividend.
