TANGANDA Tea Company Limited has reported a 65% year-on-year fall in revenue for the third quarter ended 30 June 2025, attributed to the decline in lower tea export volumes, adverse weather, and exchange rate disparities.

Revenue dropped to US$6.5 million from US$18.4 million recorded in the same period last year, while profit after tax decreased to US$1.2 million, compared with US$4.8 million previously.

Bulk tea production fell 6% to 6,826 tonnes, down from 7,293 tonnes last year, largely due to late rains. Export volumes declined by 19% to 3,646 tonnes. In contrast, packed tea and coffee sales volumes rose 11% during the quarter, although they were 8% lower than last year's total of 1,310 tonnes.

Avocado output dropped 47% to 2,121 tonnes from 3,976 tonnes, following a November 2024 hailstorm and the biennial bearing effect. Macadamia nut harvests also decreased 43% to 849 tonnes due to extreme heat during the nut-set period, though exports of 520 tonnes were 5% higher than the previous year.

The company said the operating environment remained relatively stable, supported by exchange rate liberalisation, but noted ongoing challenges including weak demand in the formal retail sector, tight liquidity, and intermittent power supply.

Management confirmed plans to raise US$8 million through a Rights offer to support operations. Future performance, it added, will depend on exchange rate stability, policy coordination, and cost management.