Unga Group Limited has (according to Kenyan Wall Street), released its audited financial results for the year which ended on the 30th of June 2019 with a revenue of 17.9 billion Kenyan Shillings, a figure which is 10.4% decrease from the previous year’s figure of 19.98 billion Kenyan Shillings. The listed firm’s finance costs went up by 83.7% to 166.75 million Kenyan Shillings.
The profit for the year which ended on the 30th of June 2019 decreased by 30% to 544.81 million Kenyan Shillings mainly as a result of the increased competition in the human nutrition business.
A lot more raw materials were consumed by the company’s animal nutrition business and resulted in constrained margins while supporting volume.
Unga Group Limited’s Earnings Per Share decreased by 32.7% to 4.52 Kenyan Shillings from 6.72 Kenyan Shillings, because of the decrease in profit.
Unga Group Limited also made it known that it’s new wheat mill in Eldoret has increased its capacity and also improved its production efficiencies further.
Its bakery business however, recorded a reduction of 16% in revenues which was attributed to the credit risk challenges in the retail sector.
Unga Group Limited’s board has recommended a final dividend of 0.50 Kenyan Shillings per share to be paid on or around the 15th of January 2020 to the shareholders who will still be registered in the books of the company at the close of business on the 5th of December 2019.
