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Daily Nation : January 30th 2014
DAILY NATION Thursday January 30, 2014 29 ANNOUNCEMENT OF GROUP RESULTS FOR THE YEAR ENDED 30TH SEPTEMBER 2013 2013 Shs’000 Revenue Net gain arising from changes in fair value of biological assets Cost of sales Gross profit Interest income Other operating income Foreign exchange gains/(losses) – net Distribution costs Administrative expenses Other operating expenses Finance costs Profit before tax Tax charge Profit for the year Comprising: Profit arising from operating activities Profit arising from changes in fair value of biological assets 282,759 159,707 442,466 Other comprehensive loss for the year Items that may be reclassified subsequently to profit or loss Foreign exchange adjustment on translation of foreign subsidiaries Total comprehensive income for the year Earnings per share - basic and diluted Commentary on group results The profit before tax and before accounting for “theoretical” gains arising from the valuation of biological asset was slightly lower than that achieved during the preceding year but, nevertheless, the year to 30th September 2013 was rewarding with an outturn of Shs 420 million (Shs 648 million after biological asset valuation) as compared with Shs 467 million (Shs 555 million after biological asset valuation) in the preceding year. Members are reminded that the fair value gains which arise from the application of International Accounting Standard (IAS) 41 – Agriculture, do not represent cash profits. Dividend The directors have not yet made a recommendation regarding the payment of a dividend in respect of the financial year ended 30th September 2013 (2012: Shs 1.10 per share amounting to Shs 66 million) Annual General Meeting The 19th By Order of the Board I.R. Hodson Company Secretary 27th January 2014 (2,741 ) 439,725 Shs 7.37 (61,148 ) 319,285 Shs 6.34 319,086 61,347 380,433 2,570,103 228,154 (1,422,005 ) 1,376,252 2,608 2,682 503 (94,711 ) (628,102 ) (3,554 ) (7,686 ) 647,992 (205,526 ) 442,466 2012 Shs’000 2,571,725 87,639 (1,394,208 ) 1,265,156 52 12,281 (32,266 ) (82,538 ) (576,783 ) (3,392 ) (27,217 ) 555,293 (174,860 ) 380,433 Annual General Meeting of the Company will be held at Southern Sun Mayfair Hotel, Parklands Road, Nairobi on Friday 23rd May 2014 at 10.30 a.m.
January 29th 2014
January 31st 2014