Kakuzi Plc, the superfoods grower and exporter, has posted a net profit of KES 845.8 million for the financial year ended December 2022, representing a 62 per cent growth.
The NSE-listed company achieved a remarkable milestone in terms of pre-tax profit, reaching a closing figure of KES 1.22 billion. This represents an impressive increase of 159 per cent compared to the KES 472 million reported in the previous year.
Chris Flowers, the managing director, credited the growth to the rise in export-grade avocado production and other products that saw reasonable sales.
The earnings were supported by the total sales revenue of KES 4.4 billion, an increase from the previous year’s KES 3.2 billion.
Additionally, the sales of forestry, livestock, and blueberry produce in the local market also contributed to the growth.
The board has recommended an increase in the dividend payout for Kakuzi shareholders, with each share receiving a dividend of KES 24 at an eight per cent rate. This marks an improvement from the KES22 dividend paid out in the previous year.
Shareholders who are on the members register as of the end of business on May 31, 2023, will receive increased dividends, which will be paid on June 30.