Agricultural firm Kakuzi Plc’ reported a 62 per cent year-on-year (YoY) growth in profit at Sh845.8 million for the FY 2022, which ended December 31 2022.
The firm said the earnings growth resulted from increased production volumes of quality export-grade Avocado and other products experiencing reasonable sales.
In a statement, the managing director, Chris Flowers, said total sales revenue amounted to KSh4.4 billion, up from KSh3.2 billion posted the previous year.
“The Kakuzi Plc market and product diversification strategies complimented by the enhanced environment, social and corporate governance commitments are paying off, as the trading results indicate. The diversification efforts help to mitigate market and production risks associated with agri-business; however, international market trends will always impact our results,” Flowers said.
Kakuzi’s board recommended a dividend payout of KSh24 per share for the period, up from the KSh22 payout the previous year.
The dividends shall be paid on June 30 2023, to the shareholders on the members register at the close of business on Wednesday, May 31, 2023.