TIDMKAKU

RNS Number : 7697V

Kakuzi Ld

06 December 2023

 
 
 
 
 
 
 
                                                   PROFIT WARNING ANNOUNCEMENT FOR THE FINANCIAL YEAR ENDING 31(ST) 
                                                                            DECEMBER 2023 
 
                                                   Kakuzi Plc ('The Group') makes this announcement pursuant to the 
                                                                      Capital Markets Authority 
                                                              regulations for publicly listed companies. 
 
                                                  The Group currently forecasts that net earnings for financial year 
                                                                       2023 may be at least 25% 
                                                               lower than those of financial year 2022. 
 
                                                    This anticipated drop in full year net earnings is mainly as a 
                                                                   result of our Macadamia business 
                                                   which is expected to post a loss due to a significant decline in 
                                                                    demand and price in the global 
                                                                 markets of China, Japan and the USA. 
 
                                                  However, our other crops are performing as per expectations with a 
                                                                     strong performance expected 
                                                                            from Avocado. 
 
                                                   This profit warning announcement is based on the performance to 
                                                                  date with reference to information 
                                                                         currently available. 
 
                                                                        By order of the Board 
 
                                                                              N NG'ANG'A 
                                                                               Chairman 
 
                                                                         5(th) December 2023 
  ------------------------------------------------------------------------------------------------------------------

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December 06, 2023 02:00 ET (07:00 GMT)

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