Kakuzi Ld Final Results (6147C)
19 Marzo 2014 - 8:00AM
UK Regulatory
TIDMKAKU
RNS Number : 6147C
Kakuzi Ld
19 March 2014
KAKUZI LIMITED
ANNOUNCEMENT OF GROUP RESULTS FOR THE YEAR ENDED 31 DECEMBER
2013
Condensed Consolidated Statement of Comprehensive Income
31 December 31 December
2013 2012
Shs'000 Shs'000
Sales 1,384,375 1,564,792
=========== ===========
Profit before fair value gain in Biological
assets, sale of shares in
subsidiary and income tax 142,989 362,364
Fair value gain in Biological assets 96,317 63,686
Profit on sale of shares in subsidiary - 53,249
Profit before income tax 239,306 479,299
Income tax expense (74,278) (129,833)
----------- -----------
Profit for the year from continuing
operations 165,028 349,466
Profit for the year from discontinued
operations - 59,190
----------- -----------
Profit for the year 165,028 408,656
Other comprehensive income:
Actuarial gain/(loss) on post employment
benefit obligation (net of tax) 11,275 (3,552)
Total comprehensive income 176,303 405,104
=========== ===========
Total comprehensive income attributable
to:
Equity holders of the company:
Profit for the year from continuing
operations 176,303 345,914
Profit for the year from discontinued
operations - 29,891
----------- -----------
Profit for the year attributable to
equity holders of the company 176,303 375,805
Non-controlling interest: Profit for
the year from discontinued operations - 29,299
----------- -----------
176,303 405,104
----------- -----------
Earnings per share attributable to
equity holders of the company:
Basic and diluted earnings per stock
unit - continuing operations 8.42 17.83
Basic and diluted earnings per stock
unit - discontinued operations - 1.52
----------- -----------
8.42 19.35
=========== ===========
Condensed Consolidated Statement of Financial Position
31 December 31 December
2013 2012
Shs'000 Shs'000
EQUITY
Share capital 98,000 98,000
Other reserves 9,986 (1,289)
Retained earnings 2,722,542 2,631,014
Proposed dividends 73,500 73,500
----------- -----------
Attributable to company's
equity holders 2,904,028 2,801,225
Non-current liabilities 666,334 624,452
----------- -----------
3,570,362 3,425,677
=========== ===========
REPRESENTED BY
Non-current assets 2,546,888 2,334,227
----------- -----------
Current assets 265,897 339,933
Cash and cash equivalents 904,758 897,540
Current liabilities (147,181) (146,023)
Net current assets 1,023,474 1,091,450
3,570,362 3,425,677
=========== ===========
OVERVIEW:
The above is an extract from the financial statements which have
been prepared in accordance with the International Financial
Reporting Standards (IFRS) and audited by PricewaterhouseCoopers,
Certified Public Accountants of Kenya, and on which an unqualified
opinion has been issued.
The major impact on profits arises from our Avocado and Tea operations
both of which are significantly down on turnover and profit as
compared with 2012.
DIVIDEND:
The Directors recommend the payment of a first and final dividend
for the financial year 2013 of 75% equivalent to Shs 3.75 per
stock unit (2012: Shs 3.75) subject to shareholders approval.
The dividend shall be paid on or about 30 June 2014 to the shareholders
on the members' register at the close of business on Friday,
30 May 2014
ANNUAL GENERAL MEETING:
The Annual General Meeting of the Company will be held on Tuesday,
20 May 2014 at 12.00 Noon at Nairobi Serena Hotel.
BY ORDER OF THE BOARD
K W Tarplee
Chairman
18 March 2014
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This information is provided by RNS
The company news service from the London Stock Exchange
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