Further re Final Results - Year Ended 31 Dec 1999
Kakuzi Ld
3 April 2000
ANNOUNCEMENT OF RESULTS FOR THE YEAR ENDED 31 DECEMBER 1999
Subsequent to the 1999 results being announced on 3 March 2000, a further review
of the calculation of prior year adjustments relating to the adoption of
International Accounting Standards has been prepared which requires an amendment
to the figures announced, as follows:
Extracted from audited As previously announced
financial statements on 3 March 2000
1999 1998 1999 1998
As restated* As restated*
Sh'000 Sh'000 Sh'000 Sh'000
(Loss)/profit before
taxation (16,615) 146,286 (16,615) 147,174
Taxation 54,507 (38,536) 40,331 (74,824)
------- ------- ------- --------
Net profit after
taxation 37,892 107,750 23,716 72,350
Minority interests (1,187) (7,527) 334 (5,775)
-------- ------- ------ -------
Profit attributable
to the members of
Kakuzi Limited 36,705 100,223 24,050 66,575
Dividends (gross)
-interim (paid) (19,600) (19,600) (19,600) (19,600)
-final (proposed) (19,600) (34,300) (19,600) (34,300)
-------- ------- ------- --------
Retained (loss)/
profit for the
year carried to
reserves (2,495) 46,323 (15,150) 12,675
------ ------ ------- -------
Sh Sh Sh Sh
Earnings per
stock unit 1.87 5.11 1.23 3.40
*NOTE The Group's financial statements now comply with the requirements of
International Accounting Standards (IAS), which have replaced Kenyan Accounting
Standards. Under IAS certain adjustments were required to recognise the
retrospective impact of the change.
ANNUAL GENERAL MEETING
The Annual General Meeting of the Company will be held on Friday 12 May 2000 at
12.00 noon at the Frangipani Room, Serena Hotel, Nairobi.
DIVIDEND
The Board will recommend to the stockholders a final dividend in respect of the
year ended 31 December 1999 of Sh1.00 per stock unit (20%) subject to
withholding tax where applicable. The dividend will be payable on 31 May 2000
to stockholders on the register at close of business on 5 May 2000. The
register will remain closed on 5 May 2000.
BY ORDER OF THE BOARD
M C PERKINS
CHAIRMAN
NAIROBI
3 APRIL 2000
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