Tanganda focuses on cost containment

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TANGANDA Tea Company (Tanganda) says it will prioritise cost containment measures in the second half of the year as inflationary pressures are expected to persist, a situation which has been worsened by global shocks.
In a trading update for the quarter ended 30 June 2022, the diversified agro-based firm said surging inflation on the backdrop of sharp exchange rate volatility continues to pile pressure on margins.

“The company is focusing on cost management to mitigate the adverse impact of rising inflation and exchange rate volatility to profit margins. The company is however optimistic about its prospects during the last quarter of the financial year,” the company said.