Browsing: International shipping costs

  • The Flame Tree Group has announced a profit warning for the year ended December 31, 2022 
  • The earnings decline is due to  an increase of raw material prices, shipping costs, as well as depreciation of the local currencies against the US Dollar (USD). 
  • It is predicted that earnings for the year will be at least 25 percent less than the level of earnings in the previous year.

Kenya’s manufacturing giant, Flame Tree Group has announced a profit warning for the year ended December 31, 2022 stating that the earnings will be at least 25 percent less than the level of earnings in the previous year.

The firm attributes the decline to the increase of raw material prices, shipping costs, as well as depreciation of the local currencies against the US Dollar (USD). 

According to the firm, the price of plastics have gone up by 70 percent compared to 2021 while