Listed agricultural firm Kakuzi Plc has posted mixed half-year results for the period ended June 30, 2025, with revenue growing sharply but profitability falling on weaker avocado valuations and lower tea prices.
- •Sales rose 28.6% to KSh 1.51 billion, supported by improved contributions from macadamia and blueberry operations.
- •Profit before tax declined 14.2% to KSh 435.2 million, while net profit fell 14.9% to KSh 295.5 million.
- •Cash flow improved significantly, with operating cash turning positive at KSh 11.9 million compared to an outflow of KSh 536.1 million last year.
Avocado earnings dropped to KSh 395 million from KSh 951 million on lower crop valuations.
The macadamia division delivered a profit of KSh 319 million against KSh 32 million last year, supported by buoyant global demand and improved pricing. Blueberries turned profitable, posting KSh 13 million compared to a KSh 17 million loss.
| Metric | Jun 30 2025 | Jun 30 2024 | YoY % |
|---|---|---|---|
| Sales | 1.511 Bn | 1.175 Bn | +28.60% |
| PBT before FV gain | 409.67 Mn | 485.58 Mn | -15.63% |
| FV gain bio assets | 25.58 Mn | 21.51 Mn | +18.92% |
| Profit before income tax | 435.25 Mn | 507.09 Mn | -14.17% |
| Profit for the period | 295.54 Mn | 347.51 Mn | -14.95% |
| Earnings per share | 15.08 | 17.73 | -14.95% |
| Net cash from operating activities | 11.87 Mn | -536.13 Mn | Turnaround |
| Net cash used in investing activities | -67.60 Mn | -107.89 Mn | Improved |
| Net cash used in financing activities | -156.86 Mn | -470.40 Mn | Improved |
| Closing cash & cash equivalents | 890.29 Mn | 130.38 Mn | +582.84% |
| Total equity | 5.472 Bn | 5.811 Bn | -5.84% |
| Total assets | 6.776 Bn | 7.056 Bn | -3.97% |
MD Comments on HY Results
Managing Director Chris Flowers said trading in the core crops was in line with expectations, with international avocado markets well supplied compared to last year’s undersupplied period.
- •He noted that earlier shipping route challenges were stabilising as voyages return to Red Sea routes.
- •Kakuzi exported 165 containers (801,840 cartons) of avocados to Europe, competing with supplies from Peru, South Africa, and Colombia.
- •Tea recorded a wider loss of KSh 27.5 million from KSh 3.5 million as prices weakened.
Flowers raised concern over recent land invasions causing environmental damage and community tensions, noting the firm is pursuing legal remedies to protect shareholder rights. He reiterated that business growth remains anchored on supporting Murang’a County and the national economy through job creation and foreign exchange earnings.
