Kakuzi Ld
08 March 2006
KAKUZI LIMITED
ANNOUNCEMENT OF RESULTS FOR THE YEAR ENDED 31 DECEMBER 2005
2005 2004
Shs'000 Shs'000
Sales 1,110,348 1,424,503
Continuing operations 1,110,348 1,393,129
Discontinuing operations - 31,374
Operating (loss)/
profit (62,547) 132,405
Continuing operations (62,547) 180,622
Discontinuing operations - (48,217)
Finance costs (49,535) (39,409)
(Loss)/ profit before income tax (112,082) 92,996
Continuing operations (112,082) 141,213
Discontinuing operations - (48,217)
Income tax credit/ (charge) 38,315 (9,263)
(Loss)/ profit attributable to
the members of Kakuzi Limited (73,767) 83,733
Shs Shs
Basic and diluted (loss)/ earnings per stock unit (3.76) 4.27
Shs'000 Shs'000
Dividends: -
Proposed final dividend for the year - 19,600
NOTES
The above results are extracts of the financial statements, audited by PricewaterhouseCoopers,
Certified Public Accountants, 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 operating loss is a loss of Shs 50.4 million (2004: gain of Shs 93.1
million) arising from the changes in the fair value less estimated point-of-sale costs for biological
assets.
The company receives the bulk of its income in foreign currencies and the persistent strengthening
of the shilling during the year had a severe impact on turnover measured in shillings. Tea prices in
dollar terms were also extremely depressed due primarily to an oversupply in world markets.
DIVIDEND
The directors do not recommend the payment of a dividend for the year 2005 (2004: Shs 19,600,000).
ANNUAL GENERAL MEETING
The Annual General Meeting of the company will be held on Tuesday 23 May 2006 at 12.00 noon in the
Allamanda room, Serena Hotel, Nairobi.
BY ORDER OF THE BOARD
DR T R FOWKES
CHAIRMAN
P O BOX 24, THIKA 01000
7 MARCH 2006
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