Full Year

Sasini: HY2009 Net Profit up 77%

Sasini Limited an NSE listed company & one of the leading tea and coffee producers in Kenya announced their HY2009 financial results. In the HY2009, Sasini reported a net profit of KES155 million compared to KES87 million in HY2008. Turnover increased by 56% from KES 650 million in HY2008 to KES1 billion in HY2009. Compared to HY2008, Post employment benefits increased by 19.7% while free cash flow improved from negative KES180 million in HY2008 to KES4 million in HY2009. The company reduced their Capex by approximately 86%.

FREE CASH FLOW ANALYSIS
Over the past two years, Sasini’s operating cash flow has improved from negative to positive. In 2007 Sasini reported negative operating cash fllows of KES 99 million, KES 86 million in FY2008 and KES33 million in HY2009. During the same period capital expenditures increased to KES266 million in FY2008 from KES70 million in FY2007. In HY2009, Sasini reported Capex of KES28 million. As a result, free cash flow has has improved in the HY2009 period, the company reported KES 4 million in free cash flow for the HY2009 period.

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