Kakuzi Ld Half-year Report (1904N)
August 07 2017 - 1:00AM
UK Regulatory
TIDMKAKU
RNS Number : 1904N
Kakuzi Ld
07 August 2017
KAKUZI PLC
EXTRACT FROM THE INTERIM FINANCIAL STATEMENTS
FOR THE PERIOD OF SIX MONTHS TO 30 JUNE 2017
The unaudited results for the Kakuzi Group
for the period of six months to 30 June 2017
and the comparative figures for the previous
year are as follows:
Condensed Consolidated Statement of Comprehensive
Income
Restated
30 June 30 June
2017 2016
Shs'000 Shs'000
Sales 547,277 437,347
========= ===========
Profit before fair value
gain in biological assets
and income tax 85,462 44,523
Fair value gain in biological
assets 20,000 19,054
Profit before income tax 105,462 63,577
Income tax expense (32,259) (18,189)
--------- -----------
Profit for the period 73,203 45,388
Other Comprehensive Income - -
Total comprehensive income 73,203 45,388
========= ===========
Total comprehensive income
attributable to
equity holders of the company: 73,203 45,388
========= ===========
Shs Shs
Earnings per share attributable
to equity holders of the
company:
Basic and diluted earnings
per ordinary share 3.73 2.32
Condensed Consolidated Statement of Financial
Position
Restated
30 June 30 June 31 December
2017 2016 2016
Shs'000 Shs'000 Shs'000
EQUITY
Share capital 98,000 98,000 98,000
Other reserves 14,872 8,936 14,872
Retained earnings 3,688,989 3,216,349 3,615,786
Proposed dividends - - 117,600
--------- --------- -----------
Total equity 3,801,861 3,323,285 3,846,258
Non-current liabilities 836,733 734,181 801,418
--------- --------- -----------
4,638,594 4,057,466 4,647,676
========= ========= ===========
REPRESENTED BY
Non-current assets 3,037,497 2,906,372 3,015,067
--------- --------- -----------
Current assets 884,675 766,713 618,771
Cash and cash balances 1,143,772 731,663 1,430,576
Current liabilities (427,350 ) (347,282) (416,738)
Net current assets 1,601,097 1,151,094 1,632,609
4,638,594 4,057,466 4,647,676
========= ========= ===========
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 profit before tax for the period to 30
June 2017 was KSh105.5 million compared to
a restated profit of KSh63.6 million for the
same period last year. The 2016 half year profits
have been restated due to changes in the Accounting
Standards.
During the period under review, tea profits
were depressed due to lower volumes partly
offset by better prices arising from dry weather
conditions in quarter one. Avocado results
are in line with last year's performance whilst
macadamia results are affected by lower than
expected yields.
It is difficult, at present, to predict financial
performance for the year with erratic supply
and demand, climatic conditions together with
exchange rates to contend with.
The Directors do not recommend the payment
of an Interim Dividend.
BY ORDER OF THE BOARD
G H MCLEAN
CHAIRMAN
04 August 2017
This information is provided by RNS
The company news service from the London Stock Exchange
END
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