Half Yearly Report

RNS Number : 0021Y

Kakuzi Ld

25 August 2009

 



KAKUZI LIMITED EXTRACT FROM THE INTERIM FINANCIAL STATEMENTS FOR THE PERIOD OF SIX MONTHS TO 30 JUNE 2009 AND DIVIDEND ANNOUNCEMENT
The unaudited results for the Kakuzi Group for the period of six months to 30  June  2009  and the  comparative figures for the previous year are as follows: -
	30 June 2009 Shs'000		30 June 2008 Shs'000
Sales	694,947		460,830
Profit/(loss) before finance costs and income tax	88,069		(763)
Finance costs	(15,071)		(27,081)
Profit/(loss) before income tax	72,998		(27,844)
Income tax expense	(37,891)		(5,127)
Profit/(loss) for the period (within which a loss of Shs 13,842,000   has been dealt with in the accounts of the company)	35,107		(32,971)
Profit/(loss) attributable to:
Equity holders of the company	23,359    11,748		(38,044)   5,073
Minority interest
Earnings/(loss) per share attributable to equity holders
of the company:	Shs		Shs
Basic and diluted earnings/(loss) per stock unit	1.19		(1.94)

The Interim Financial Statements have been prepared in accordance with the International Financial Reporting Standards (IFRS).

During the first six months of the year the Tea and Avocado operations made satisfactory contributions to profit. Turnover was up in relation to year 2008 due to better tea prices and sale of early season Outgrowers Fuerte Avocado. 

The pricing demand on our Hass Avocados sales during the second half of the year together with the present worldwide recession and current drought conditions in Kenya remain a concern and brings uncertainties to our business.

In view of these uncertainties, the Directors do not recommend the payment of an Interim Dividend.

 K W Tarplee

 Chairman

 25 August 2009

 

END

 

 

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