Kakuzi PLC - Nairobi-based plantation operator - Announces pretax profit jumps to KES507.1 million, about £3.0 million, in the first half of 2024, from KES171.1 million a year prior. Sales surge 35% to KES1.18 billion from KES873.2 million. Chair Nicholas Nganga notes the company was positively impacted by a buoyant international avocado market, mostly due to a reduced global supply. However, while the demand for macadamia nuts has returned to pre-Covid levels, prices have remained below pre-pandemic levels despite recovering some ground. He adds: ‘Our commitment to promoting responsibly grown Kenyan superfoods in both traditional and emerging markets is unwavering. Quality, traceability, and sustainability are our key drivers, and we are encouraged to see a growing customer base appreciating our value-added produce range of edible oil, fresh meats, roasted and coated macadamia nuts.’

Current stock price: 92.50 pence

12-month change: unchanged

Copyright 2024 Alliance News Ltd. All Rights Reserved.