25th Mar 2015 11:43
LONDON (Alliance News) - Kakuzi Ltd on Wednesday said its pretax profit fell slightly in 2014 despite higher revenue, due to poor tea market prices.
The Kenya-focused food manufacturing company said its pretax profit in 2014 was KES232.8 million,down from KES239.3 million, despite revenue increasing to KES1.69 billion from KES1.38 billion last year.
Kakuzi said a good performance for its avocados business offset the poor market prices for tea in 2014.
The company has recommended a dividend of KES3.75 per share, or 0.027 pence.
Kakuzi shares were untraded Wednesday, having last traded at 40.00p.
By Sam Unsted; [email protected]; @SamUAtAlliance
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