KAKU Kakuzi Ld

TIDMKAKU

RNS Number : 7574V

Kakuzi Ld

12 August 2015

 
                      KAKUZI LIMITED 
 
 
       EXTRACT FROM THE INTERIM FINANCIAL STATEMENTS 
       FOR THE PERIOD OF SIX MONTHS TO 30 JUNE 2015 
 
 The unaudited results for the Kakuzi Group for the period 
 of six months to 30 June 2015 and the comparative figures 
           for the previous year are as follows: 
 
 
       Condensed Consolidated Statement of Comprehensive Income 
 
                                           30 June 2015   30 June 2014 
                                                Shs'000        Shs'000 
 
 Sales                                          420,173        447,623 
                                           ============   ============ 
 
 Profit before fair value gain in 
  Biological assets and income tax               46,602         57,732 
 Fair value gain in Biological assets            17,262         18,506 
 Profit before income tax                        63,864         76,238 
 Income tax expense                             (20,436)       (27,282) 
                                           ------------   ------------ 
 Profit for the period                           43,428         48,956 
 
 Other Comprehensive Income                           -              - 
 Total comprehensive income                      43,428         48,956 
                                           ============   ============ 
 
                                                    Shs            Shs 
 Earnings per share: 
 Basic and diluted earnings per stock 
  unit                                             2.22           2.50 
 
 
        Condensed Consolidated Statement of Financial Position 
                                                               Audited 
                            30 June 2015   30 June 2014    31 December 
                                                                  2014 
                                 Shs'000        Shs'000        Shs'000 
 
 EQUITY 
 Share capital                    98,000         98,000         98,000 
 Other reserves                    3,981          9,986          3,981 
 Retained earnings             2,852,675      2,771,498      2,809,247 
 Proposed dividends                    -              -         73,500 
                            ------------   ------------   ------------ 
 Total equity                  2,954,656      2,879,484      2,984,728 
 Non-current liabilities         717,230        684,697        695,305 
                            ------------   ------------   ------------ 
                               3,671,886      3,564,181      3,680,033 
                            ============   ============   ============ 
 REPRESENTED BY 
 Non-current assets            2,851,784      2,630,233      2,676,369 
                            ------------   ------------   ------------ 
 
 Current assets                  386,117        350,214        207,395 
 Cash and cash balances          665,083        793,019        973,690 
 Current liabilities            (231,098  )    (209,285)      (177,421) 
 Net current assets              820,102        933,948      1,003,664 
                               3,671,886      3,564,181      3,680,033 
                            ============   ============   ============ 
 
 
 
 
     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 reduced profit has been due mainly to the later than 
     normal start of our avocado season resulting from drought 
     conditions early in the year. Our tea and macadamia operations 
     have both performed better than in the first half of 2014. 
 
     It is difficult at present to give prospects for the year 
     with such matters as exchange rates and interest rates showing 
     volatility and the economic situation in Europe remains very 
     fragile. Our cash and investment position remain strong. 
 
     The Directors do not recommend the payment of an Interim 
     Dividend. 
 
 
     BY ORDER OF THE BOARD 
 
     K W Tarplee 
     Chairman 
     11 August 2015 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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