Rea Vipingo Plantations came out of a difficult trading period that was characterized by high operating costs to record a 5.8% drop in 2009 pre-tax profits. The company's revenue grew marginally by 1.1% during the year to Ksh1.37 bn ($18 mn) but gross profit rose 11.8% to offset the poor top-line growth (incidentally the gross margin climbed from 42.2% in 2008 to 46.6% in 2009). However, overall profit margins dipped 1.1% from 16.8% in 2008 to 15.6% in 2009 due to operating costs that rose sharply in line with the inflation in the country. For example, administrative expenses (that comprise 85% of operating costs and 25% of turnover) rose by 6.6% to Ksh352 mn for the sisal grower who has operations in Kenya and Tanzania.

Last year the company's profit margins benefited from a one-off fair value adjustment on the acquisition of a subsidiary. Despite the EPS dipping 11% from Ksh 2.80 per share to Ksh 2.48 per share, the board recommended a higher dividend of Ksh 0.50 per share versus Ksh 0.20 per share in 2008. Since the earnings announcement on 19th January, 2010 the company's share price is up 5.5% to Ksh12.35 (US$0.16) per share.