26 Aug 2009 07:00
| 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
Kakuzi (KAKU)