StockMarketWire.com – Kakuzi reported a rise in profit even as sales were largely flat in the first half of the year, but warned of lower avocado crop output.
For the period of six months to 30 June 2021, pre-tax profit rose to KSh 276.7 million from KSh 204.1 million year-on-year, while sales of KSh 888.9 million were down slightly from KSh 889.9 million.
‘The harvesting of our flagship products, avocado and macadamia, began in earnest in June,’ the company said.
Looking ahead, the company said preliminary production data available at this stage indicated that ‘the avocado crop output to market is significantly lower than 2020, whilst the macadamia crop is in line with earlier projections.’
‘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,’ it added.
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