Interim Results

29 Aug 2006 13:39

Kakuzi Ld29 August 2006 KAKUZI LIMITED DIVIDEND ANNOUNCEMENT AND EXTRACT FROM THE INTERIM FINANCIAL STATEMENTS FOR THE PERIOD OF SIX MONTHS TO 30 JUNE 2006 The unaudited results for the Kakuzi Group for the period of six months to 30June 2006 and the comparative figures for the previous year are as follows: - 30 June 2006 30 June 2005 Shs'000 Shs'000 Turnover 574,040 501,025 Operating loss (84,577) (70,225) Finance costs (39,916) (19,188) Loss before income tax (124,493) (89,413) Income tax credit 28,718 30,210 Loss attributable to the members of Kakuzi Limited (95,775) (59,203) Shs Shs Loss per stock unit - Basic and Diluted (4.89) (3.02) The Interim Financial Statements have been prepared in accordance withInternational Financial Reporting Standards including IAS 41 - Agriculture. During the first six months of the year our tea operations recorded a smalloperating loss due primarily to the drought experienced in Nandi Hills in late2005 and early 2006. Our canned pineapple joint venture with Del Monte KenyaLimited also reported a significant loss. However our cattle, forestry, citrusand fresh pineapple operations all made positive contributions. We expectavocados to again generate good profits in 2006, but these profits will onlyaccrue during the second half of the year. In view of the loss we are reporting for the first six months of the year, theDirectors do not recommend the payment of an interim dividend. Dr. T R FowkesChairman28 August 2006 This information is provided by RNS The company news service from the London Stock Exchange