Final Results

RNS Number : 6147C

Kakuzi Ld

19 March 2014

 



KAKUZI LIMITED
ANNOUNCEMENT OF GROUP RESULTS FOR THE YEAR ENDED 31 DECEMBER 2013
Condensed Consolidated Statement of Comprehensive Income
					31 December 2013		31 December 2012
					Shs'000		Shs'000
Sales					1,384,375		1,564,792
Profit before fair value gain in Biological assets, sale of shares in   subsidiary and income tax					142,989		362,364
Fair value gain in Biological assets					96,317		63,686
Profit on sale of shares in subsidiary					-		53,249
Profit before income tax					239,306		479,299
Income tax expense					(74,278	)	(129,833	)
Profit for the year from continuing operations					165,028		349,466
Profit for the year from discontinued operations					-		59,190
Profit for the year					165,028		408,656
Other comprehensive income:
Actuarial gain/(loss) on post employment benefit obligation (net of tax)					11,275		(3,552	)
Total comprehensive income					176,303		405,104
Total comprehensive income attributable to:
Equity holders of the company:
Profit for the year from continuing operations					176,303		345,914
Profit for the year from discontinued operations					-		29,891
Profit for the year attributable to equity holders of the company					176,303		375,805
Non-controlling interest: Profit for the year from discontinued operations					-		29,299
					176,303		405,104
Earnings per share attributable to equity   holders of the company:
Basic and diluted earnings per stock unit - continuing operations					8.42		17.83
Basic and diluted earnings per stock unit - discontinued operations					-		1.52
					8.42		19.35
Condensed Consolidated Statement of Financial Position
					31 December 2013		31 December 2012
					Shs'000		Shs'000
EQUITY
Share capital					98,000		98,000
Other reserves					9,986		(1,289	)
Retained earnings					2,722,542		2,631,014
Proposed dividends					73,500		73,500
Attributable to company's equity holders					2,904,028		2,801,225
Non-current liabilities					666,334		624,452
					3,570,362		3,425,677
REPRESENTED BY
Non-current assets					2,546,888		2,334,227
Current assets					265,897		339,933
Cash and cash equivalents					904,758		897,540
Current liabilities					(147,181	)	(146,023	)
Net current assets					1,023,474		1,091,450
					3,570,362		3,425,677

OVERVIEW: The above is an extract from the financial statements which have been prepared in accordance with the International Financial Reporting Standards (IFRS) and audited by PricewaterhouseCoopers, Certified Public Accountants of Kenya, and on which an unqualified opinion has been issued. The major impact on profits arises from our Avocado and Tea operations both of which are significantly down on turnover and profit as compared with 2012. DIVIDEND: The Directors recommend the payment of a first and final dividend for the financial year 2013 of 75% equivalent to Shs 3.75 per stock unit (2012: Shs 3.75) subject to shareholders approval. The dividend shall be paid on or about 30 June 2014 to the shareholders on the members' register at the close of business on Friday, 30 May 2014 ANNUAL GENERAL MEETING: The Annual General Meeting of the Company will be held on Tuesday, 20 May 2014 at 12.00 Noon at Nairobi Serena Hotel. BY ORDER OF THE BOARD K W Tarplee Chairman 18 March 2014

 

END

 

 

FR SFMFMAFLSELD