TIDMKAKU
RNS Number : 4947W
Kakuzi Ld
19 August 2020
KAKUZI PLC
EXTRACT FROM THE INTERIM FINANCIAL STATEMENTS
FOR THE PERIOD OF SIX MONTHS TO 30 JUNE 2020
The unaudited results for the Kakuzi Group for the period of six
months to 30 June 2020 and the comparative figures for the previous
year are as follows:
Condensed Consolidated Statement of Profit or Loss
and other Comprehensive Income
30 June 30 June
2020 2019
Shs'000 Shs'000
Sales 889,909 619,463
======= ========
Profit before fair value gain
in non-current biological assets
and income tax 186,022 334,857
Fair value gain in non-current
biological assets 18,095 20,225
Profit before income tax 204,117 355,082
Income tax credit/(expense) 68,670 (109,501)
------- --------
Profit for the period 272,787 245,581
Other Comprehensive Income:
Items that are not reclassified
to profit or loss:
Remeasurement of post-employment - -
benefit obligations (net of tax)
Total comprehensive income 272,787 245,581
======= ========
Shs Shs
Earnings per share (Shs):
Basic and diluted earnings per
ordinary share 13.92 12.53
Condensed Consolidated Statement of Cash flows
30 June 30 June
2020 2019
Shs'000 Shs'000
Cash and cash equivalents at
the beginning of the year 1,696,130 1,500,935
--------- ---------
Net cash used in operating activities (226,022) (86,944)
Net cash used in investing activities (195,489) (235,314)
Net cash used in financing activities (274,413) (176,400)
Effect of exchange rate differences
on cash and cash equivalents 12,856 1,911
--------- ---------
Decrease in cash and cash equivalents (683,068) (496,747)
Cash and cash equivalents at
the end of the year 1,013,062 1,004,188
========= =========
Condensed Consolidated Statement of Financial Position
Audited
30 June 30 June 31 December
2020 2019 2019
Shs'000 Shs'000 Shs'000
EQUITY
Share capital 98,000 98,000 98,000
Other reserves 31,463 19,653 31,463
Retained earnings 5,087,249 4,621,004 4,814,462
Proposed dividends - - 274,400
---------- --------- -----------
Total equity 5,216,712 4,738,657 5,218,325
Non-current
liabilities 914,503 972,478 1,007,047
---------- --------- -----------
6,131,215 5,711,135 6,225,372
========== ========= ===========
REPRESENTED
BY
Non-current
assets 3,920,666 3,745,481 3,868,015
Current assets 1,568,992 1,371,745 896,890
Cash and cash
balances 1,013,062 1,004,188 1,696,130
Current liabilities (371,505) (410,279) (235,663)
---------- --------- -----------
Net current
assets 2,210,549 1,965,654 2,357,357
---------- --------- -----------
6,131,215 5,711,135 6,225,372
========== ========= ===========
Condensed Consolidated Statement
of Changes in Equity
Share Other Retained Proposed Total
capital reserves earnings dividends Equity
Shs'000 Shs'000 Shs'000 Shs'000 Shs'000
At start of
the year 98,000 31,463 4,814,462 274,400 5,218,325
Profit for the
period - - 272,787 - 272,787
Dividends paid - - - (274,400) (274,400)
At end of period 98,000 31,463 5,087,249 - 5,216,712
RESULTS:
The profit before tax for the period to June 2020 was KSh 204.1
million compared to a profit of KSh 355.1 million for the same
period last year. This is principally due to a financial provision
write back in 2019.
During the first half of the year, avocado profits are on a par
with 2019, macadamia profits are greater, and our tea operations
made an operating loss of KSh 11.3 million compared to a loss of
KSh 1.1 million in 2019.
The profit after tax for the period to 30 June 2020 was KSh
272.8 million compared to a profit of KSh 245.5 million for the
same period last year. This is principally due to the release of
deferred tax provision in view of the reduction of the Corporate
tax rate to 25% from 30% by the Government.
The Directors do not recommend the payment of an interim
dividend.
BY ORDER OF THE BOARD
G H MCLEAN
CHAIRMAN
18 AUGUST 2020
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END
IR BSGDIDUBDGGI
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