Mumias Sugar sees better second half, losses widens in first-half

Kenya's Mumias Sugar expected to perform better in the second half after posting a wider pretax loss for the six months ended Dec. 31, the company said on Tuesday, adding falling prices due to illegal imports could pose a challenge.

The heavily-indebted firm has been struggling with cash flow problems in recent years, forcing the government to step in with bailout funds and has hired a new chief executive, Errol Johnston, to drive its turnaround.