11th Mar 2008 15:26
Kakuzi Ld11 March 2008 KAKUZI LIMITED ANNOUNCEMENT OF RESULTS FOR THE YEAR ENDED 31 DECEMBER 2007 2007 2006 Shs'000 Shs'000 Sales 1,512,118 1,399,194 Operating profit 321,332 253,143Finance costs (51,002) (63,391) Profit before income tax 270,330 189,752Income tax expense (78,733) (56,701) Profit for the year (of which Shs 177,851,000has been dealt with in the accounts of the company) 191,597 133,051 Attributable to:Equity holders of the company 189,643 133,051Minority interest 1,954 - Shs ShsEarnings per share attributable to equity holders of the company:Basic and diluted earnings per stock unit 9.68 6.79 Shs'000 Shs'000Dividends: -Proposed final dividend for the year - - NOTES The above results are extracted from financial statements audited byPricewaterhouseCoopers, Certified Public Accountants, and on which anunqualified opinion has been given. Biological assets are measured at fair value less estimated point-of-sale costsin accordance with IAS 41, Agriculture. Included in the operating profit for2007 is a contribution of Sh 164 million (2006: Sh 199 million) arising from thechanges in the fair value less estimated point-of-sale costs for biologicalassets. The principal contributions to operating profit in 2007 were derived fromavocado, forestry, tea and fresh pineapple. The long-standing canned pineapplejoint venture with Del Monte Kenya Limited is being wound down, but a new jointproject agreement with them was signed during November. The company receives the bulk of its income in foreign currencies, and thecontinuing strength of the shilling throughout the year had a severe impact onsales revenues measured in shillings. DIVIDEND The directors do not recommend the payment of a dividend for the year 2007(2006: nil). ANNUAL GENERAL MEETING The Annual General Meeting of the company will be held on Thursday 22 May 2008at 12.00 noon at the Norfolk Hotel, Nairobi. BY ORDER OF THE BOARD DR T R FOWKESCHAIRMAN11 MARCH 2008 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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