“Kakuzi Plc issues this profit warning notice and cautionary statement to our current
investors, potential investors and the general public. This profit warning notice arises from
trading information, market forecasts and the preliminary unaudited full-year financial
results, among other data sources currently at the Board’s disposal. We, therefore, wish to
report that our net earnings for the year ended 31st December 2021 will potentially be at
least 25 percnt lower than that reported for the year ended 31st December 2020,” said Kakuzi Board Chairman Nicholas Ng’ang’a.
The anticipated drop in full-year earnings is principally as a result of Hass avocado production which is prone to a year of low production after a year of high production (a principle known as biannual bearing).
According to Kakuzi, 2021 Hass production was 18 percent lower than 2020.
“As announced in the half-year trading results commentary, the lower yield was anticipated,” said Ng’ang’a.
