Kakuzi Ld Half-year Report (0481G)
August 03 2016 - 1:00AM
UK Regulatory
TIDMKAKU
RNS Number : 0481G
Kakuzi Ld
03 August 2016
KAKUZI LIMITED
EXTRACT FROM THE INTERIM FINANCIAL STATEMENTS
FOR THE PERIOD OF SIX MONTHS TO 30 JUNE 2016
The unaudited results for the Kakuzi Group
for the period of six months to 30 June 2016
and the comparative figures for the previous
year are as follows:
Condensed Consolidated Statement of Comprehensive
Income
Restated
30 June 30 June
2016 2015
Shs'000 Shs'000
Sales 437,347 420,173
========= ===========
(Loss)/Profit before fair
value gain in Biological
assets and income tax (109,297) (33,858)
Fair value gain in Biological
assets 57,693 37,411
(Loss)/Profit before income
tax (51,604) 3,553
Income tax credit/(expense) 16,366 (1,117)
--------- -----------
(Loss)/Profit for the period (35,238) 2,436
Other Comprehensive Income - -
Total comprehensive (Loss)/income (35,238) 2,436
========= ===========
Total comprehensive (loss)/income
attributable to
equity holders of the company: (35,238) 2,436
========= ===========
Shs Shs
Earnings per share attributable
to equity holders of the
company:
Basic and diluted earnings
per stock unit (1.80) 0.12
Condensed Consolidated Statement of Financial
Position
Restated Restated
30 June 30 June 31 December
2016 2015 2015
Shs'000 Shs'000 Shs'000
EQUITY
Share capital 98,000 98,000 98,000
Other reserves 8,936 3,981 8,936
Retained earnings 3,135,304 2,811,683 3,170,542
Proposed dividends - - 98,000
--------- --------- -----------
Total equity 3,242,240 2,913,664 3,375,478
Non-current liabilities 699,444 699,653 712,787
--------- --------- -----------
3,941,684 3,613,317 4,088,265
========= ========= ===========
REPRESENTED BY
Non-current assets 2,922,894 2,676,157 2,833,891
--------- --------- -----------
Current assets 634,409 503,175 448,150
Cash and cash balances 731,663 665,083 1,175,434
Current liabilities (347,282 ) (231,098) (369,210)
Net current assets 1,018,790 937,160 1,254,374
3,941,684 3,613,317 4,088,265
========= ========= ===========
Overview:
The above is an extract from the interim financial
statements which have been prepared in accordance
with the International Financial Reporting
Standards (IFRS).
The company has fully adopted the amendments
to the International Accounting Standard (IAS)
41 - Agriculture and our permanent plantings
are now classified under IAS 16 - property,
plant and equipment as bearer plants to be
depreciated over their expected useful life.
This has resulted in the original reported
profit before tax for the six month period
to 30th June 2015 of Ksh 63.8 million being
restated to Ksh 3.5 million.
The loss before tax for the period under review
is Ksh 51.6 million. This somewhat disappointing
result has been mainly due to lower tea prices,
lower livestock sales and the delay of macadamia
sales due to awaiting completion of the cracking
facility construction.
To predict financial performance for the year
is impossible at this stage with the irregularities
of supply and demand together with exchange
rates to contend with.
The Directors do not recommend the payment
of an Interim Dividend.
BY ORDER OF THE BOARD
K W TARPLEE
CHAIRMAN
02 August 2016
This information is provided by RNS
The company news service from the London Stock Exchange
END
IR BLGDIXBGBGLD
(END) Dow Jones Newswires
August 03, 2016 02:00 ET (06:00 GMT)
Kakuzi Ld (LSE:KAKU)
Historical Stock Chart
From Apr 2024 to May 2024
Kakuzi Ld (LSE:KAKU)
Historical Stock Chart
From May 2023 to May 2024
