Kakuzi Ld
29 August 2006
KAKUZI LIMITED
DIVIDEND ANNOUNCEMENT AND EXTRACT FROM THE
INTERIM FINANCIAL STATEMENTS
FOR THE PERIOD OF SIX MONTHS TO 30 JUNE 2006
The unaudited results for the Kakuzi Group for the period of six months to 30
June 2006 and the comparative figures for the previous year are as follows: -
30 June 2006 30 June 2005
Shs'000 Shs'000
Turnover 574,040 501,025
Operating loss (84,577) (70,225)
Finance costs (39,916) (19,188)
Loss before income tax (124,493) (89,413)
Income tax credit 28,718 30,210
Loss attributable to the members of Kakuzi Limited (95,775) (59,203)
Shs Shs
Loss per stock unit - Basic and Diluted (4.89) (3.02)
The Interim Financial Statements have been prepared in accordance with
International Financial Reporting Standards including IAS 41 - Agriculture.
During the first six months of the year our tea operations recorded a small
operating loss due primarily to the drought experienced in Nandi Hills in late
2005 and early 2006. Our canned pineapple joint venture with Del Monte Kenya
Limited also reported a significant loss. However our cattle, forestry, citrus
and fresh pineapple operations all made positive contributions. We expect
avocados to again generate good profits in 2006, but these profits will only
accrue during the second half of the year.
In view of the loss we are reporting for the first six months of the year, the
Directors do not recommend the payment of an interim dividend.
Dr. T R Fowkes
Chairman
28 August 2006
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