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Kakuzi PLC released its unaudited interim financial statements for the six months ended 30 June 2026. For this period, the company reported a profit of Shs 7,110 thousand, compared to Shs 295,538 thousand in the prior year, and basic earnings per share of Shs 0.36, down from Shs 15.08. The Directors did not recommend the payment of an interim dividend.
| Date | 26 Aug 2026 |
| Time | 07:00:02 |
| Category | Results |
| ID | 2165S |
KAKUZI PLC
EXTRACT FROM THE INTERIM FINANCIAL STATEMENTS FOR THE PERIOD OF SIX MONTHS TO 30 JUNE 2026
The unaudited results for the Kakuzi Group for the period of six months to 30 June 2026 and the comparative figures for the previous year are as follows:
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Condensed Consolidated Statement of Profit or Loss and other Comprehensive Income |
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30 June 2026 |
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30 June 2025 |
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Shs'000 |
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Shs'000 |
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Sales |
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1,117,721 |
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1,511,260 |
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(Loss)/profit before fair value gain in non-current biological assets and income tax |
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(23,454 |
) |
409,666 |
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Fair value gain in non-current biological assets |
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33,876 |
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25,579 |
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Profit before income tax |
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10,422 |
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435,245 |
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Income tax expense |
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(3,312 |
) |
(139,707 |
) |
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Profit for the period |
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7,110 |
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295,538 |
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Other Comprehensive Income |
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- |
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- |
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Total comprehensive income |
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7,110 |
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295,538 |
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Shs |
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Shs |
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Earnings per share (Shs): |
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Basic and diluted earnings per ordinary share |
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0.36 |
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15.08 |
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Condensed Consolidated Statement of Financial Position |
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Audited |
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30 June 2026 |
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30 June 2025 |
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31 Dec 2025 |
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Shs'000 |
|
Shs'000 |
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Shs'000 |
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EQUITY |
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Share capital |
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98,000 |
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98,000 |
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98,000 |
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Other reserves |
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40,206 |
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36,251 |
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40,206 |
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Retained earnings |
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5,123,342 |
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5,337,797 |
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5,116,232 |
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Proposed dividends |
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- |
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- |
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313,600 |
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Total equity |
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5,261,548 |
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5,472,048 |
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5,568,038 |
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Non-current liabilities |
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1,270,570 |
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1,303,861 |
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1,256,730 |
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6,532,118 |
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6,775,909 |
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6,824,768 |
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REPRESENTED BY |
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Non-current assets |
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4,166,296 |
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4,054,964 |
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4,072,891 |
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Current assets excluding cash and bank balances |
2,487,646 |
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2,243,123 |
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1,565,481 |
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Cash and bank balances |
274,594 |
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890,293 |
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1,593,203 |
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Current liabilities |
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(396,418 |
) |
(412,471 |
) |
(406,807 |
) |
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Net current assets |
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2,365,822 |
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2,720,945 |
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2,751,877 |
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6,532,118 |
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6,775,909 |
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6,824,768 |
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Condensed Consolidated Statement of Changes in Equity |
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Share capital |
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Other reserves |
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Retained earnings |
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Proposed dividends |
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Total Equity |
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Shs'000 |
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Shs'000 |
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Shs'000 |
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Shs'000 |
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Shs'000 |
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As at 1 January 2026 |
98,000 |
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40,206 |
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5,116,232 |
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313,600 |
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5,568,038 |
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Profit for the period |
- |
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- |
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7,110 |
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- |
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7,110 |
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Dividends paid |
- |
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- |
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- |
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(313,600 |
) |
(313,600 |
) |
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As at 30 June 2026 |
98,000 |
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40,206 |
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5,123,342 |
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- |
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5,261,548 |
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Condensed Consolidated Statement of Cash flows |
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30 June 2026 |
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30 June 2025 |
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Shs'000 |
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Shs'000 |
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Cash and cash equivalents at the beginning of the period |
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1,593,203 |
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1,106,684 |
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Net cash (used)/generated in operating activities |
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(739,671 |
) |
11,871 |
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Net cash used in investing activities |
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(258,868 |
) |
(67,603 |
) |
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Net cash used in financing activities |
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(313,659 |
) |
(156,861 |
) |
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Effect of exchange rate differences on cash and cash equivalents |
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(6,411 |
) |
(3,798 |
) |
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Decrease in cash and cash equivalents |
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(1,318,609 |
) |
(216,391 |
) |
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Cash and cash equivalents at the end of the period |
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274,594 |
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890,293 |
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KEY HIGHLIGHTS
The global avocado market was well supplied putting pressure on prices particularly in the latter part of the half year. At Kakuzi an anticipated significantly lower crop from our orchards and disrupted shipping routes has weighed heavily on returns with operating profit at half-year falling to Ksh 215.9million (Half year 2025: Ksh 394.9 million).
The macadamia market softened sharply on rising global supply and weaker demand, resulting in a half-year operating profit of Ksh 68.2 million, compared to a profit of Ksh 318.8 million in half year 2025.
Blueberry continued its trend of profitable growth, posting a half-year operating profit of Ksh 15.1 million (Half year 2025: Ksh 13.4 million), notwithstanding freight complexity caused by conflict in the Middle East.
Forestry operating profit significantly improved in the half year to Ksh 73.3 million (Half year 2025: Ksh 42.9 million) on continued strong demand for poles. Tea and Livestock continue to perform in line with our expectations, with a slight strengthening of the tea market. Trading Performance
The year-to-date trading in our two core crops has been negatively impacted by geo-political instability impacting key shipping routes into Europe, a lower anticipated overall avocado crop volume and a downturn in market demand for macadamia.
The Directors do not recommend the payment of an Interim Dividend.
BY ORDER OF THE BOARD
NICHOLAS NG'ANG'A CHAIRMAN 25th AUGUST 2026 |