Tea firms Williamson and Kapchorua Tea Farm , listed at the Nairobi Securities Exchange(NSE), have posted strong 2025/26 Half Year Earnings despite oversupply and weak demand persisting on the global tea market, leading to low prices.
The two firms are also emerging from adverse profit warnings that they issued on the end year results for period ending 31st March 2025.
Kapchorua saw its Half-Year Net Profits jump 422% to KSh 92.2million, as at September 2025 compared to KSh 18.2 million over a similar period last year. This is against a 24% drop in Revenue from KSh 1.0948 billion in H1 2024 to KSh 829.49 million in September this year.
Tea Firms’ Profit Drivers Against Gloomy Export Market
Williamson, on the other hand, has pulled back from a Half-Year Net Loss of KSh 122.4 million in September 2024, narrowing to a KSh 10.1 million
The firm together with its associate Williamson recently concluded a rights issue, boosting activity at these two counters, considered some of the most illiquid at the NSE.
While Total Revenues of these listed tea firms have been hit by global market conditions, the situation has been worsened by a strong Kenya Shilling Exchange Rate-which has negatively impacted their export revenues.
Williamson Tea Kenya saw its Revenues plunge 14.8% from KSh 1.98 billion in H
1 2024 to KSh 1.68 billion at the end of September 2025. The firm, however, improved on its Operating Loss, which moved to KSh 111.6m in H1 2025/26 from KSh 216.9m last year.
Williamson Tea Kenya made a Pre-Tax Loss of KSh 23.6m from KSh 170.9m last year, with its Balance Sheet size shrinking to KSh 8.02 billion from KSh 8.46 billion at the end of last year’s half year. Its Pre-Tax loss narrowed to KSh 23.6m from KSh 170.9m
The tea firm recorded a strong liquidity position with its Cash and Bank Balances up 133% from KSh 291.9m in 2024 to KSh 680.7m in H1 2025/26. Inventories declined 43% to KSh 540.2m from KSh 947.8m in H1 2025.
Shareholders’ funds for owners of Williamson Tea also suffered a decline from KSh 6.146billion to KSh 5.883billion in September 2025.
Kapchorua Tea Farm saw a significant upswing in its Operating Profit from a loss of KSh 5.1m to profit of KSh 75.2m. Profit after Tax(PAT) margin rose to 11.5% from 1.7% in September 2024.
The high PAT margin shows a firm’s financial health and ability to maintain prices and generate profits, despite adverse market conditions.
The firm’s balance sheet size grew 2.7% to KSh 2.71billion from KSh 2.65billion. Inventories declined 44.7% from KSh 300.6million to KSh 166.4million.
Williamson Tea shares have been underperforming at the NSE with a year-to-date decline of 25.2% to its close of KSh 169.50 as of November 13th 2025. But investors have stayed glued to the counter on the knowledge that it has a history of paying dividends, even it less profitable years.
Current priced at KSh 203.00 per share, Kapchorua share performance has been mixed. However, it has one of the highest dividend yields and a strong brand reputation. Some of the top individual shareholders of Williamson Tea include Baloobhai Patel (2.43%), Amarjeet Patel (2.43%), Lalitaben Shah (1.79%0 and Mohammed Aslam (0.59%)
Williamson Tea is also a major shareholder at Kapchorua Farm with 39.56% stake. Major individual stakeholders at Kapchorua farm include Eric Simons (1.53%), Minesh Shah(1.2%), Lalitaben Shah (1.14%), Benard Langat( 1.02%) and Jeanine Brooks( 1.02%).
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