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KAKU Kakuzi Ld

92.50
0.00 (0.00%)
14 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Kakuzi Ld LSE:KAKU London Ordinary Share KE0000000281 STK KES5
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 92.50 0.00 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
General Farms,primarily Crop 5.4B 453.52M 23.1386 0.04 18.13M

Kakuzi Ld Annual Financial Report

20/03/2024 8:27am

RNS Regulatory News


RNS Number : 5853H
Kakuzi Ld
20 March 2024
 

 

KAKUZI PLC

 

 

ANNOUNCEMENT OF GROUP RESULTS FOR THE YEAR ENDED 31 DECEMBER 2023


 
  

Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income

 

 

 

 

 

31 December 2023

 

31 December 2022

 

 

 

 

 

Shs'000

 

Shs'000

 

 

 








  Sales



5,401,468


4,434,211



 








  Profit before fair value gain in non-current biological assets and income tax



537,174


1,108,065



  Fair value gain in non-current biological assets



126,808


113,559



 








  Profit before income tax



663,982


1,221,624



  Income tax expense



(210,465

)

(375,820

)










  Profit for the year



453,517


845,804











  Other Comprehensive Income:








  Items that are not reclassified to profit or loss:








  Remeasurement of post-employment benefit obligations (net of tax)



2,114


(5,176

)


  Total comprehensive income



455,631


840,628











 



Shs

 

Shs

 

 

  Earnings per share (Shs):



 

 

 

 

 

  Basic and diluted earnings per ordinary share



23.14


43.15











  

Condensed Consolidated Statement of Financial Position

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

31 December 2023

 

31 December 2022

 

 

 

 

 

 

 

 

Shs'000

 

Shs'000

 

  EQUITY











  Share capital







98,000


98,000


  Other reserves







34,929


32,815


  Retained earnings







5,330,753


5,347,636


  Proposed dividends







470,400


470,400


  Total equity







5,934,082


5,948,851


  Non-current liabilities







1,299,213


1,187,337









7,233,295


7,136,188


  REPRESENTED BY











  Non-current assets







4,055,135


4,089,669













  Current assets excluding cash and cash balances







2,152,846


1,983,022


  Cash and bank balances







1,408,131


1,408,744


  Current liabilities







(382,817

)

(345,247

)

  Net current assets







3,178,160


3,046,519









7,233,295


7,136,188













  

Condensed Consolidated Statement of Cash flows

 

 

 

 

 

31 December 2023

 

31 December 2022

 

 

 

 

 

Shs'000

 

Shs'000

 

 

 








  Cash and cash equivalents at the beginning of the year



1,408,744


1,656,219



 








  Net cash generated from operating activities



649,292


382,426



  Net cash used in investing activities



(294,162

)

(281,012

)


  Net cash used in financing activities



(470,400

)

(431,201

)


  Net decrease in cash and cash equivalents



(115,270

)

(329,787

)


  Net exchange gains on foreign currency cash & cash equivalent



114,657


82,312











  Cash and cash equivalents at the end of the year



1,408,131


1,408,744











  

Condensed Consolidated Statement of Changes in Equity

 

 

 

 

 

 

Share

capital

 

Other reserves

 

Retained earnings

 

Proposed dividends

 

Total

Equity

 

 

Shs'000

 

Shs'000

 

Shs'000

 

Shs'000

 

Shs'000

 

 

 

 

 

 

 

 

 

 

 

 

  On 1.1.2023

98,000


32,815


5,347,636


470,400


5,948,851


  Profit for the year

-


-


453,517


-


453,517


  Other comprehensive income

-


2,114


-


-


2,114


  Dividends - final paid for 2022

-


-


-


(470,400

)

(470,400

)

                   - proposed for 2023

-


-


(470,400

)

470,400


-


 











  On 31.12.2023

98,000


34,929


5,330,753


470,400


5,934,082
























 

OVERVIEW:

 

Your Company recorded a pre-tax profit of Ksh 664 Million (2022: Ksh 1,221.6 Million). The pre-tax profit drop is mainly attributed to a Ksh 354 Million pre-tax loss from our macadamia operations (2022: Ksh 635 Million Profit). However, the avocado operations performed well, recording a pre-tax profit of Ksh1.4 Billion (2022: Ksh 0.8 Billion).

 

DIVIDEND:

 

 

ANNUAL GENERAL MEETING:

 

 

BY ORDER OF THE BOARD

 

NICHOLAS NG'ANG'A

CHAIRMAN                                                                                                             

19 MARCH 2024                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       

 
 

  INDEPENDENT AUDITORS' REPORT ON THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS TO THE SHAREHOLDERS OF KAKUZI PLC

Opinion

The accompanying condensed consolidated financial statements of Kakuzi Plc and its subsidiaries (the "Group"), which comprise the condensed consolidated statement of financial position as at 31 December 2023, and the condensed consolidated statement of profit or loss and other comprehensive income, the condensed consolidated statement of changes in equity and the condensed consolidated statement of cash flows for the year then ended, are derived from the audited financial statements of the Group for the year ended 31 December 2023.

In our opinion, the accompanying condensed consolidated financial statements are consistent, in all material respects, with the audited financial statements of the Group, in accordance with the requirements of the Capital Markets (Securities) (Public Offers, Listings and Disclosures) Regulation, 2002 (''the Regulations'') as applicable to summary financial statements

Condensed consolidated financial Statements

The condensed consolidated financial statements do not contain all the disclosures required by the International Financial Reporting Standards as applicable to annual financial statements. Reading the condensed consolidated financial statements and the auditors' report thereon, therefore, is not a substitute for reading the audited financial statements of the Group and the auditors' report thereon.

The audited financial statements and our report thereon

We expressed an unmodified audit opinion on the audited financial statements in our report dated 19 March 2024. That report also includes the communication of a key audit matter related to measurement of biological assets. Key audit matters are those matters that in our professional judgement were of most significance in our audit of the financial statements of the current period.

Auditors' responsibility

Our responsibility is to express an opinion on whether the condensed consolidated financial statements are consistent, in all material respects, with the audited financial statements based on our procedures, which were conducted in accordance with International Standard on Auditing (ISA) 810 (Revised), Engagements to Report on Summary Financial Statements.

The engagement partner responsible for the audit resulting in this independent auditor's report is CPA Fredrick Okwiri, Practicing Certificate No. 169

For and on behalf of Deloitte & Touche LLP

Certified Public Accountants

Deloitte Place,

Waiyaki Way, Muthangari

P.O Box 40092 - 00100, Nairobi


 

 

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END
 
 
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