Kakuzi PLC – plantation operator in Kenya – For the six months ended June 30, posts pretax profit of KES276.7 million, around GBP1.8 million, up 36% from KES204.1 million a year before, even as sales dipped 0.1% year-on-year to KES888.9 million from KES889.9 million.
Kakuzi says that the harvesting of its flagship products avocado and macadamia started in June, with preliminary output data indicating that the avocado crop production is significantly lower than 2020, while the macadamia crop remains in line with earlier forecasts.
Does not recommend the payment of an interim dividend.
"We anticipate that the Covid-19 pandemic will continue to disrupt the potential of our markets to absorb our produce to a certain degree for the rest of this year. This is due to the market slowdown associated with lockdown and related restrictions. At this stage, it is too early to predict the full impact of these developments on the company’s full year performance, but we continue to actively monitor," the company stated.
Current stock price: 92.50 pence
Year-to-date change: unchanged
By Dayo Laniyan; dayolaniyan@alliancenews.com
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