Final Results

RNS Number : 4890I

Kakuzi Ld

12 March 2010

 

KAKUZI LIMITED

 

ANNOUNCEMENT OF GROUP RESULTS FOR THE YEAR ENDED 31 DECEMBER 2009

 

		2009		2008
		Shs’000		Shs’000
Sales		2,008,157		1,613,216
Operating profit		578,363		441,588
Finance costs		(19,473	)	(51,399	)
Profit before income tax		558,890		390,189
Income tax expense		(168,595	)	(107,271	)
Profit for the year		390,295		282,918
Other comprehensive income		-		-
Total comprehensive income		390,295		282,918
Profit attributable to:
Equity holders of the company		339,897		257,188
Minority interest		50,398		25,730
Total comprehensive income attributable to:
Equity holders of the company		339,897		257,188
Minority interest		50,398		25,730
		Shs		Shs
Earnings per share attributable to equity holders of company:
Basic and diluted earnings per stock unit		17.34		13.12
		Shs’000		Shs’000
Dividends: -
Proposed first and final dividend for the year		49,000		19,600

NOTES

The above results are extracted from financial statements audited by PricewaterhouseCoopers, Certified Public Accountants of Kenya, and on which an unqualified opinion has been given.

 

Biological assets are measured at fair value less estimated point-of-sale costs in accordance with IAS 41, Agriculture. Included in the operating profit for 2009 is a contribution of Sh 64 million (2008: Sh 181 million) arising from the changes in the fair value less estimated point-of-sale costs for biological assets.

 

The principal contributions to operating profit in 2009 were derived from avocado and tea. 

 

DIVIDEND

The directors recommend the payment of a first and final dividend for the financial year 2009 of 50% equivalent to Shs 2.50 per stock unit (2008: Shs 1.00)

 

Subject to the shareholders approval, the Register of Members will be closed on Monday 31^st May 2010 for the purpose of processing the dividend.

 

ANNUAL GENERAL MEETING

The Annual General Meeting of the company will be held on Thursday 27^th May 2010 at 12.00 noon at Fairmont The Norfolk Hotel, Nairobi.

 

BY ORDER OF THE BOARD

 

MR K W TARPLEE

CHAIRMAN

11 MARCH 2010

 

END

 

 

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