Unga Group’s full year profit dwindles 88% on back of reduced demand, high production cost

KENYA – Unga Group, a Kenyan-based holding company with investments in flour milling and manufacturing of human nutrition products and animal feeds has reported an 88% reduction in profits for the full year ended June 30, 2020, to Ksh66 million (US$608k) down from Ksh544.8 million (US$5m) reported in a similar period the previous year. The company attributes its near profit wipe out to reduced consumer demand along with the high cost of inputs mainly of maize and wheat grain purchases. Revenue however grew by 2% to Ksh18.3 billion (US$168.7m) from…

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Unga Group’s half-year profits fall despite double digit growth in revenue

KENYA – Unga Group Limited, a Kenyan-based holding company with investments in flour milling and manufacturing of human nutrition products and animal feeds has reported a decrease in profit to Sh151 million (US$1.48m) for the six months period ending December 31, 2019 from Sh306 million (US$3m) registered in the same period in 2018. The drop is attributed to reduced volumes in the animal nutrition segment and increased cost of wheat and maize grains. The low production and inflated costs were caused by unfavourable weather conditions in the year. Unga Group…

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Unga Group reports 10.4% decline in revenue for the year ended June 2019

KENYA – Unga Group Limited, a Kenyan-based holding company with investments in flour milling and manufacturing of human nutrition products and animal feeds has reported a 10.4% decrease in revenue to Ksh17.9 billion (US$172m) for the year ended 30th June 2019 from the previous year’s Ksh19.98 billion (US$192m). The Nairobi Stock Exchange listed firm’s finance costs went up by 83.7% to Ksh166.75 million (US$1.6m) as increased raw material costs was absorbed by the animal nutrition business thus constraining margins while supporting volume. The profit for the year decreased by 30%…

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Kenya’s Unga Group mulls soya meal production line, banks on new wheat plant to drive growth

KENYA – Unga Group Limited, a major grain miller in Kenya, has unveiled plans of setting up a soya meal production line in its Nairobi plant as it seeks to grow its investments in the grains and milling sector. The Seaboard-backed grain miller recently commissioned a new state-of-the art wheat milling plant in Eldoret with a 300-tonne daily milling capacity and a storage silo with a capacity of 15,000 tonnes in a bid to grow its production capacity. Commissioned in mid-December last year, the Eldoret plant is expected to more…

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Unga Group to commission new Eldoret wheat mill, plans soya meal facility

KENYA – Seaboard-backed grain miller, Unga Group is set to commission a new 300 tonnes-a-day wheat milling plant next month, an expansion of the Eldoret facility that currently handles 250 tonnes. According to Business Daily, the company will also install a soya meal production facility at its Nairobi plant by June next year. Unga’s investment seeks to solidify its position in the wheat processing market while gaining a regional foothold given the increasing competition in the milling space. “The new 300 tonnes per day wheat mill in Eldoret is scheduled…

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