Tanzania based Tatepa reduces losses with increased avocado exports
Tatepa's Chairman G. C Theobald said in a financial report that the year under review showed significant improvements for the firm, despite continued difficult trading conditions.
"We hope to see a much improved balance sheet by the end of 2016-17. This shall also have a positive impact on the profitability of the Group.
The chairman said an increase in avocado export volumes of more than twice the previous year saw the Group reduce its net loss after tax.
"Rungwe Avocado Company (RAC) is finally moving into profit," Mr Theobald said adding "this year it exported over 1,300 tonnes of fruit to Europe, compared to 566 tonnes last year. This led to it making a small profit for the first time since inception.
source: allafrica.com
