Last checked at 12 Mar 2010 07:00
RNS Number : 4890I
Kakuzi Ld
12 March 2010
KAKUZI LIMITED
ANNOUNCEMENT OF GROUP RESULTS FOR THE YEAR ENDED 31 DECEMBER 2009
| | | 2009 | | 2008 | |
| | | Shs’000 | | Shs’000 | |
| | | | | | |
| Sales | | 2,008,157 | | 1,613,216 | |
| Operating profit | | 578,363 | | 441,588 | |
| Finance costs | | (19,473 | ) | (51,399 | ) |
| Profit before income tax | | 558,890 | | 390,189 | |
| Income tax expense | | (168,595 | ) | (107,271 | ) |
| | | | | | |
| Profit for the year | | 390,295 | | 282,918 | |
| | | | | | |
| Other comprehensive income | | - | | - | |
| | | | | | |
| Total comprehensive income | | 390,295 | | 282,918 | |
| | | | | | |
| Profit attributable to: | | | | | |
| Equity holders of the company | | 339,897 | | 257,188 | |
| Minority interest | | 50,398 | | 25,730 | |
| | | | | | |
| Total comprehensive income attributable to: | | | | | |
| Equity holders of the company | | 339,897 | | 257,188 | |
| Minority interest | | 50,398 | | 25,730 | |
| | | | | | |
| | | Shs | | Shs | |
| Earnings per share attributable to equity holders of company: | | | | | |
| Basic and diluted earnings per stock unit | | 17.34 | | 13.12 | |
| | | | | | |
| | | Shs’000 | | Shs’000 | |
| Dividends: - | | | | | |
| Proposed first and final dividend for the year | | 49,000 | | 19,600 | |
| | | | | | |
NOTES
The above results are extracted from financial statements audited by PricewaterhouseCoopers, Certified Public Accountants of Kenya, and on which an unqualified opinion has been given.
Biological assets are measured at fair value less estimated point-of-sale costs in accordance with IAS 41, Agriculture. Included in the operating profit for 2009 is a contribution of Sh 64 million (2008: Sh 181 million) arising from the changes in the fair value less estimated point-of-sale costs for biological assets.
The principal contributions to operating profit in 2009 were derived from avocado and tea.
DIVIDEND
The directors recommend the payment of a first and final dividend for the financial year 2009 of 50% equivalent to Shs 2.50 per stock unit (2008: Shs 1.00)
Subject to the shareholders approval, the Register of Members will be closed on Monday 31st May 2010 for the purpose of processing the dividend.
ANNUAL GENERAL MEETING
The Annual General Meeting of the company will be held on Thursday 27th May 2010 at 12.00 noon at Fairmont The Norfolk Hotel, Nairobi.
BY ORDER OF THE BOARD
MR K W TARPLEE
CHAIRMAN
11 MARCH 2010
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