TIDMKAKU
RNS Number : 5175W
Kakuzi Ld
19 August 2022
KAKUZI PLC
EXTRACT FROM THE INTERIM FINANCIAL STATEMENTS
FOR THE PERIOD OF SIX MONTHS TO 30 JUNE 2022
The unaudited results for the Kakuzi Group for the period of six
months to 30 June 2022 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
2022 2021
Shs'000 Shs'000
Sales 1,026,492 888,949
========= =======
Profit before fair value gain
in non-current biological assets
and income tax 471,842 256,094
Fair value gain in non-current
biological assets 22,826 20,569
Profit before income tax 494,668 276,663
Income tax (expense)/credit (153,398) (82,025)
--------- -------
Profit for the period 341,270 194,638
Other Comprehensive Income:
Items that are not reclassified
to profit or loss:
Remeasurement of post-employment - -
benefit obligations (net of tax)
Total comprehensive income 341,270 194,638
========= =======
Shs Shs
Earnings per share (Shs):
Basic and diluted earnings per
ordinary share 17.41 9.93
Condensed Consolidated Statement of Financial Position
Audited
30 June 30 June 31 December
2022 2021 2021
Shs'000 Shs'000 Shs'000
EQUITY
Share capital 98,000 98,000 98,000
Other reserves 37,991 31,953 37,991
Retained earnings 5,313,502 5,278,334 4,972,232
Proposed dividends - - 431,200
---------- --------- -----------
Total equity 5,449,493 5,408,287 5,539,423
Non-current
liabilities 1,098,845 1,082,661 1,070,957
---------- --------- -----------
6,548,338 6,490,948 6,610,380
========== ========= ===========
REPRESENTED
BY
Non-current
assets 3,999,063 3,919,268 3,929,196
Cash and cash
balances 840,966 1,198,311 1,656,219
Other current
assets 2,259,249 1,798,417 1,302,056
Current liabilities (550,940) (425,048) (277,091)
---------- --------- -----------
Net current
assets 2,549,275 2,571,680 2,581,184
---------- --------- -----------
6,548,338 6,490,948 6,610,380
========== ========= ===========
Condensed Consolidated Statement of Cash flows
30 June 30 June
2022 2021
Shs'000 Shs'000
Cash and cash equivalents at
the beginning of the period 1,656,219 1,670,124
--------- ---------
Net cash used in operating activities (188,424) (17,917)
Net cash used in investing activities (225,311) (82,021)
Net cash used in financing activities (431,201) (352,803)
Effect of exchange rate differences
on cash and cash equivalents 29,683 (19,072)
--------- ---------
Decrease in cash and cash equivalents (815,253) (471,813)
Cash and cash equivalents at
the end of the period 840,966 1,198,311
========= =========
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 period 98,000 37,991 4,972,232 431,200 5,539,423
Profit for the
period - - 341,270 - 341,270
Dividends paid - - - (431,200) (431,200)
At end of period 98,000 37,991 5,313,502 - 5,449,493
KEY HIGHLIGHTS
-- Strong bottom line growth. Pretax profit up 60% to Kshs 494.7 million
-- Anticipating higher avocado exports, this 'ON' year cropping cycle
-- Diversification strategy gains steam
-- Domestic sales for macadamia and blueberries as part of
revenue stream diversification stepped up
-- All set for avocado exports to China
TRADING PERFORMANCE
The half-year trading period for the financial year 2022 are in
line with our expectations
We have maintained focus on the efficient production of quality
products to fuel our revenue and profit growth.
Emerging from the suppressed trading results posted within the
same period last year, our pretax profit for the half-year period
has grown to Ksh 494.7 million, up from KSh 276.7 million posted
within the same period last year.
Based on our current projections, we are optimistic that we will
meet our production targets for the full-year trading period with
enhanced efforts to progress our diversification strategies.
The Directors do not recommend the payment of an Interim
Dividend.
BY ORDER OF THE BOARD
NICHOLAS NG'ANG'A
CHAIRMAN
18 AUGUST 2022
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END
IR BSGDIXGBDGDI
(END) Dow Jones Newswires
August 19, 2022 02:00 ET (06:00 GMT)
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