Kenya’s biggest
sugar miller, Mumias, forecast an improved second half after
six-monthly pretax profit fell to 1.18 billion shillings from 1.52
billion because heavy rain disrupted cane deliveries.
Production in the
six months to the end of December 2010 fell to 113,521 tonnes from
123,183 tonnes while sugar sold was down 7 percent to 108,110 tonnes.
Earnings from the sale of electricity — generated as a byproduct of the
milling process — were also down by a similar margin to 161 million
shillings.
Earnings per share for the first half was 0.54 shilling,
down from 0.68 shilling previously.
