Eaagads half year earnings down 21pc

Listed coffee grower Eaagads has announced a 21 per cent drop in profit after tax in the 6-months ended Sept 30, 2015.

The company earned Sh9.5 million net profit compared to Sh11.99 million the previous period due to a drop in fair value gain on biological assets.

Revenues rose to Sh44.7 million from Sh42.0 million at the same period last year in higher coffee sales.

The board did not recommend payment of an interim dividend for period ended 30 sept 2015.