Kakuzi Pretax Profit up by 228%

Nairobi Securities Exchange Listed agricultural firm Kakuzi has recorded a 228% rise in Full Year 2015 pretax profit to Ksh 764.45 Million versus Ksh 232.8 million posted the previous year.The rise was driven by increased sales and the weaker Kenya shilling.

Key Highlights

Total revenue increased by 47% to Ksh 2.48 Billion.

Sales at Ksh 2.48 billion versus Ksh 1.69 Billion posted in 2014

Earnings per share up to Ksh 26.92 shillings from 8.17 shillings in 2014,

“The improved profit … was driven to some extent by the weather conditions as well as favourable market demand for our main export products,” it said in a statement.

“The weakening Kenyan shilling also worked in our favour as well as the fact that we could take advantage of high interest rates with our strong cash position.”

Dividend, Books Closure & AGM

Kakuzi Directors recommend the payment of a first and final dividend for the financial year 2015 of Shs 5.00 per stock unit (2014: Shs 3.75) subject to shareholders approval.

The dividend shall be paid on or about 30 June 2016 to the shareholders on the members’ register at the close of business on Tuesday, 31 May 2016.

The Annual General Meeting of the Company will be held on Tuesday 17 May 2016 at 12.00 Noon at Nairobi Serena Hotel.