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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 |
TIDMKAKU
RNS Number : 0910J
Kakuzi Ld
15 August 2019
KAKUZI PLC
EXTRACT FROM THE INTERIM FINANCIAL STATEMENTS
FOR THE PERIOD OF SIX MONTHS TO 30 JUNE 2019
The unaudited results for the Kakuzi Group for the period of six months to 30 June 2019 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 2019 2018 Shs'000 Shs'000 Sales 619,463 613,118 ======== ======== Profit before fair value gain in non-current biological assets and income tax 334,857 361,927 Fair value gain in non-current biological assets 20,225 20,641 Profit before income tax 355,082 382,568 Income tax expense (109,501) (112,114) -------- -------- Profit for the year 245,581 270,454 Other Comprehensive Income: Items that are not reclassified to profit or loss: Remeasurement of post-employment - - benefit obligations (net of tax) Total comprehensive income 245,581 270,454 ======== ======== Shs Shs Earnings per share (Shs): Basic and diluted earnings per ordinary share 12.53 13.80 Condensed Consolidated Statement of Cash flows 30 June 30 June 2019 2018 Shs'000 Shs'000 Cash and cash equivalents at the beginning of the year 1,500,935 1,648,749 --------- --------- Net cash used in operating activities (86,944) (139,160) Net cash used in investing activities (235,314) (69,430) Net cash used in financing activities (176,400) (137,200) Effect of exchange rate differences on cash and cash equivalents 1,911 (5,566) --------- --------- Decrease in cash and cash equivalents (496,747) (351,356) Cash and cash equivalents at the end of the year 1,004,188 1,297,393 ========= ========= Condensed Consolidated Statement of Financial Position Audited 30 June 30 June 31 December 2019 2018 2018 Shs'000 Shs'000 Shs'000 EQUITY Share capital 98,000 98,000 98,000 Other reserves 19,653 16,607 19,653 Retained earnings 4,621,004 4,340,683 4,375,423 Proposed dividends - - 176,400 ---------- --------- ----------- Total equity 4,738,657 4,455,290 4,669,476 Non-current liabilities 972,541 871,632 881,602 ---------- --------- ----------- 5,711,198 5,326,922 5,551,078 ========== ========= =========== REPRESENTED BY Non-current assets 3,745,481 3,402,413 3,624,125 Current assets 1,371,745 1,292,927 815,982 Cash and cash balances 1,004,188 1,297,393 1,500,935 Current liabilities (410,216) (665,811) (389,964 ---------- --------- ----------- Net current assets 1,965,717 1,924,509 1,926,953 ---------- --------- ----------- 5,711,198 5,326,922 5,551,078 ========== ========= =========== 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 19,653 4,375,423 176,400 4,669,476 Profit for the period - - 245,581 - 245,581 Dividends paid - - - (176,400) (176,400) At end of period 98,000 19,653 4,621,004 - 4,738,657
OVERVIEW:
The profit before tax for the period to June 2019 was Shs 355.0 million compared to a profit of Shs 382.6 million for the same period last year. While there was an increase in revenue from avocado sales, lower volumes of unharvested avocado crop resulted in a reduction in the fair value adjustment compared to the prior period. Revenue from tea declined due to lower production and a weak market. Macadamia results improved as a result of increased production and firmer prices. The results were also impacted by the write back of provisions made in prior years, amounting to Shs 103.2 million.
The sale and export of avocados, the main income stream for the Company, has begun in earnest and whilst the market prices look to be improved over last year, the impact of reduced volumes in comparison to 2018 will be unknown until later in the year.
The Directors do not recommend the payment of an interim dividend.
BY ORDER OF THE BOARD
G H MCLEAN
CHAIRMAN
14 AUGUST 2019
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
IR BUGDISGBBGCS
(END) Dow Jones Newswires
August 15, 2019 02:00 ET (06:00 GMT)
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