Sasini Loss Deepens as Sh7.9bn Gulmarg Deal Collapses
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Sasini’s earnings took another hit as its half-year loss widened and a major Sh7.9 billion asset sale fell through. The failed Gulmarg deal removes a key liquidity boost investors had been pricing in.
Kenyan agricultural firm Sasini has reported a wider half-year loss, extending its run of weak earnings as operational pressures and financing costs weigh on performance. The company also confirmed the collapse of a planned Sh7.9 billion sale of its Gulmarg estate in Kiambu after the buyer failed to meet contractual obligations.
The termination removes a transaction that had been expected to unlock significant value and strengthen the group’s balance sheet. While revenue recorded a modest increase, higher finance costs and production challenges across key crop segments contributed to the deepening loss.
The failed deal adds uncertainty to Sasini’s near-term outlook, particularly as investors reassess cash flow expectations and asset monetisation strategies. Attention now shifts to whether improved agricultural conditions and stronger commodity pricing can support a turnaround in the second half of the year.