Sasini Plc boosted its investments in its subsidiaries by an additional Sh444.1 million. This is cognizant of the fact that its share in its subsidiary remains unmodified at 100 percent.
In the Agricultural firm’s latest annual report, Sasini raised its investments in its avocado, industrial park, and nuts units in the year ended September.
Sasini invested Sh224 million in Sasini Nuts EPZ Kenya Limited in the review period, an increment from Sh10 million a year earlier.
The macadamia business in Sasini was greatly affected by lockdowns and restrictions that were established to control the spread of the Covid-19 pandemic.
The restrictions led to a shutdown of its macadamia factory and shifted the focus to processing the nuts that had been harvested before the pandemic.
“The macadamia business will recover when the global markets fully reopen for nuts,” Sasini said in the report.
“We are geared to benefit from this as we have all our capabilities lined up to do so. We will drive attention on expanding our client base to support the North American market we currently supply and expand into Europe and Asia.”
Sasini EPZ Park Limited received Sh220 million from Sasini PLC during the review period, this was an increase from Sh10 million in the previous year as the shareholding remained constant at 100 percent.
Contrary to the financial performance of the preceding year where a loss was recorded, Sasini made a net profit of Sh12.6 million in the year under review. This positive performance was contributed by a 48.3 percent increase in sales from Sh2.7 billion to Sh4.1 billion.
However, Sasini did not declare a dividend.
In November last year, Sasini introduced new tea and coffee brands for the Kenyan market.
Also, there was an Sh100,000 investment by the Nairobi Securities Exchange-listed firm to create and fully own Sasini Avoca-do EPZ Limited