Sundaymail Editor
Online Reporter
TANGANDA Tea Company’s revenue for the quarter to December 30 2022 grew 48 percent in inflation-adjusted terms from the same period in 2021, despite a rise in operating costs due to inflationary pressures.
Management attributed the improved revenue performance to a 13 percent increase in local packed tea sales volumes, which were also complemented by a 37 percent surge in export volumes into the region.
The company said 325 tonnes of macadamia nuts were exported into the region during the quarter under review.
The agro-processing firm said it remains optimistic about the current summer cropping season performance, given the obtaining rainfall patterns.
This year’s rains are reportedly 49 percent ahead of last year’s rains average.
Bulk tea export volumes, however, were 33 percent below volumes exported a year ago.
Online Reporter