Kenya Orchards, a food processing company, is the latest NSE listed company to issue a profit warning in the current financial year
Kenya Orchards which manufactures and sells canned fruits and vegetables is the latest NSE listed company to issue a profit warning in the current financial year. The food processor is warning that its net profit in 2020 will be lower by more than 25% of the net profit posted in 2019.
The company stated that the COVID-19 pandemic adversely impacted its overall profitability, leading to the lower financial projection.
“Most of our customers have been affected negatively by COVID19 and therefore overall business is down,” said the company.
Kenya Orchards is popularly known for its food products such as; baked beans, mushrooms, fruit jams, tomato paste, maple syrup, mayonnaise, custard powder, and white vinegar.