Trans­mara Sugar owner Al­teo posts whop­ping Sh2bn profit in six months

The Star (Kenya) - - News Business -

Mau­ri­tius sugar pro­ducer Al­teo Ltd, which con­trols a 51 per cent stake in Trans­mara Sugar, posted an 88 per cent jump in its first-quar­ter pre­tax profit to 721.5 mil­lion ru­pees ($20.04 mil­lion or Sh2.03 bil­lion). The earn­ings were helped by larger sales vol­umes and im­proved sugar prices, un­der­lin­ing sugar pro­cess­ing is prof­itable de­spite chal­lenges lo­cally. Al­ter, the largest sugar miller on the In­dian Ocean is­land with in­ter­ests in prop­erty devel­op­ment and ho­tels, yes­ter­day said earn­ings were also boosted by gains on disposal of land amount­ing to 47 mil­lion ru­pees (Sh134.42 mil­lion) Group rev­enue rose to 2.64 bil­lion ru­pees (Sh7.55 bil­lion) from 1.99 bil­lion ru­pees (Sh5.69 bil­lion) a year ear­lier, while earn­ings per share in­creased to 0.93 ru­pees from 0.39 ru­pees. Al­teo said it ex­pected bet­ter re­sults in the sec­ond quar­ter.

Sugar dis­played in a su­per­mar­ket

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