27 Nov 2013 07:00
KAKUZI LIMITED
PROFIT WARNING ANNOUNCEMENT FOR THE FINANCIAL YEAR ENDING 31ST DECEMBER 2013
Kakuzi Limited ('The Group') makes this announcement pursuant to the Capital Markets Authority regulations for publicly listed companies.
The Group currently forecasts that earnings for financial year 2013 could be at least 25% lower than those of financial year 2012. This anticipated drop in full year earnings is, in part, as a result of downward pricing pressure for our green leaf in the Tea operation, mainly as a result of the decrease in the Kenyan Black Tea prices this year, and our Avocado crop volumes being significantly lower than the previous year.
This profit warning announcement is based on the performance indicated by the unaudited results to 30th September 2013 with reference to information currently available.
K W Tarplee Chairman 26 November 2013 |
Kakuzi (KAKU)