TIDMKAKU
RNS Number : 8093X
Kakuzi Ld
15 August 2018
KAKUZI PLC
EXTRACT FROM THE INTERIM FINANCIAL STATEMENTSFOR THE PERIOD OF
SIX MONTHS TO 30 JUNE 2018
The unaudited results for the Kakuzi Group for the period of six
months to 30 June 2018 and the comparative figures for the previous
year are as follows:
Condensed Consolidated Statement of Comprehensive
Income
30 June 30 June
2018 2017
Shs'000 Shs'000
Sales 613,118 547,277
======== =======
Profit before fair value gain
in non-current biological assets
and income tax 361,927 85,462
Fair value gain in non-current
biological assets 20,641 20,000
Profit before income tax 382,568 105,462
Income tax expense (112,114) (32,259)
-------- -------
Profit for the period 270,454 73,203
Other Comprehensive Income - -
Total comprehensive income 270,454 73,203
======== =======
Total comprehensive income attributable
to
equity holders of the company: 270,454 73,203
======== =======
Shs Shs
Earnings per share attributable
to equity holders of the company:
Basic and diluted earnings per
ordinary share 13.80 3.73
Condensed Consolidated Statement of Financial Position
30 June 30 June 31 December
2018 2017 2017
Shs'000 Shs'000 Shs'000
EQUITY
Share capital 98,000 98,000 98,000
Other reserves 16,607 14,872 16,607
Retained earnings 4,340,683 3,688,989 4,070,229
Proposed dividends - - 137,200
---------- --------- -----------
Total equity 4,455,290 3,801,861 4,322,036
Non-current
liabilities 871,632 836,733 807,190
---------- --------- -----------
5,326,922 4,638,594 5,129,226
========== ========= ===========
REPRESENTED
BY
Non-current
assets 3,402,413 3,037,497 3,338,922
---------- --------- -----------
Current assets 1,292,927 884,675 758,455
Cash and cash
equivalents 1,297,393 1,143,772 1,648,749
Current liabilities (665,811) (427,350) (616,900)
--------- -----------
Net current
assets 1,924,509 1,601,097 1,790,304
--------- -----------
5,326,922 4,638,594 5,129,226
========== ========= ===========
Condensed Consolidated Cashflow Statement
30 June 30 June
2018 2017
Shs'000 Shs'000
Cash and cash equivalents at
the beginning of the year 1,648,749 1,430,576
--------- ---------
Net cash used in operating activities (144,726) (27,778)
Net cash used in investing activities (69,430) (141,426)
Net cash used in financing activities (137,200) (117,600)
Decrease in cash and cash equivalents (351,356) (286,804)
Cash and cash equivalents at
the end of the period 1,297,393 1,143,772
========= =========
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
On 1.1.2018 98,000 16,607 4,070,229 137,200 4,322,036
Profit for
the period - - 270,454 - 270,454
Dividends paid - - - (137,200) (137,200)
-------- --------- --------- ---------- ---------
On 30.6.2018 98,000 16,607 4,340,683 - 4,455,290
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 2018 was
KSh382.60 million compared to a profit of KSh105.5 million for the
same period last year.
During the period under review, tea profits improved due to
higher volumes and firm prices in the first quarter. Avocado
results are significantly improved on last year's performance due
to increased volumes and a strong winter market in Europe.
Macadamia and Forestry results made a positive contribution to
profits.
However, given the volatility that has now crept in to the
markets, the trading picture for the second half of the year is
very difficult to predict, particularly as this is the time when
the vast majority of the avocado crop is sold.
The Directors do not recommend the payment ofan Interim
Dividend.
BY ORDER OF THE BOARD
G H MCLEAN
CHAIRMAN
14 August 2018
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END
IR BLGDIISBBGIS
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