21st Aug 2024 14:28
Kakuzi PLC - Nairobi-based plantation operator - Announces pretax profit jumps to KES507.1 million, about GBP3.0 million, in the first half of 2024, from KES171.1 million a year prior. Sales surge 35% to KES1.18 billion from KES873.2 million. Chair Nicholas Nganga notes the company was positively impacted by a buoyant international avocado market, mostly due to a reduced global supply. However, while the demand for macadamia nuts has returned to pre-Covid levels, prices have remained below pre-pandemic levels despite recovering some ground. He adds: "Our commitment to promoting responsibly grown Kenyan superfoods in both traditional and emerging markets is unwavering. Quality, traceability, and sustainability are our key drivers, and we are encouraged to see a growing customer base appreciating our value-added produce range of edible oil, fresh meats, roasted and coated macadamia nuts."
Current stock price: 92.50 pence
12-month change: unchanged
By Tom Budszus, Alliance News slot editor
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