{"id":101572,"date":"2023-08-28T19:45:06","date_gmt":"2023-08-28T19:45:06","guid":{"rendered":"https:\/\/www.africa-press.net\/kenya\/all-news\/avocado-sales-growth-sustains-kakuzi-h1-profit-run-to-sh171-1m"},"modified":"2023-08-28T20:21:46","modified_gmt":"2023-08-28T20:21:46","slug":"avocado-sales-growth-sustains-kakuzi-h1-profit-run-to-sh171-1m","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/all-news\/avocado-sales-growth-sustains-kakuzi-h1-profit-run-to-sh171-1m","title":{"rendered":"Avocado sales growth sustains Kakuzi H1 profit run to Sh171.1m"},"content":{"rendered":"

Africa-Press – Kenya. <\/strong><\/span>Listed agricultural company-Kakuzi Plc has announced a Sh171. 1 million half-year pretax profit on the back of a difficult trading period due to the prevailing macadamia global glut.<\/p>\n

The firm, which recently adopted a new corporate brand identity, enjoyed a more than double profit lift against its avocado export business, which posted a Sh654.8 million growth, up from Sh288.6 million posted last year.<\/p>\n

Speaking when he confirmed the half-year results, Kakuzi PLC managing director Chris Flowers said the firm\u2019s bottom line had been impacted by a Sh329 million sectoral loss from its macadamia business.<\/p>\n

To mitigate further losses in the macadamia business, Kakuzi, he said, is currently pursuing a value-addition strategy that will see the firm marketing the produce locally.<\/p>\n

\u201cThe global macadamia glut continues to affect all leading international exporters from Kenya, Australia and South Africa. To mitigate the losses, we have adopted a local marketing strategy geared at availing value added Macadamia products, including ready-to-eat nuts, macadamia flour and cold-pressed oil,\u201d Flowers said.<\/p>\n

While the macadamia business slowed, Kakuzi\u2019s Avocado sales accelerated, with exports to Europe and China peaking.<\/p>\n

Further avocado business growth is expected in the year\u2019s second half as exports to Malaysia and India begin to dispatch.<\/p>\n

While confirming the firm\u2019s growth strategy, Kakuzi chairman Nick Ng\u2019ang\u2019a said: \u201cAt Kakuzi, we remain committed to a shared prosperity business model that prioritises all our stakeholder needs.”<\/p>\n

He said the firm remains focused on sustainably growing business, actively implementing its Kakuzi, Community Partnerships, and answering the call for climate action while using best practices.<\/p>\n

Across the other product lines, Kakuzi has expressed confidence in its Blueberry venture prospects.<\/p>\n

\u201cAlthough our blueberry volumes are still significantly low vis-a-vis the avocado and macadamia outputs, the revenue stream remains firmly within the business plans and inspires further investments,”said Nga\u0301nga\u0301.<\/p>\n

Further afield, the performance of the tea, forestry, livestock, and arable land operations continue to play their important role in the crop portfolio, he added.<\/p>\n

Early this month, Kakuzi formally adopted a new corporate identity that underscores its commitments to agricultural development for the domestic and export markets.<\/p>\n

The new Kakuzi brand is aligned with the national agricultural transformation agenda, with sustainability and climate-smart agriculture at its core.<\/p>\n

The new identity, the firm\u2019s first defined brand visual system and strategy in 95 years, also signifies a transition to the contemporary world of superfoods growing for both the domestic and export markets, based on a strategic decision to prioritise the production of such foods.<\/p>\n

As part of the new branding, Kakuzi has also officially launched a range of private-label consumer products developed over the last two years for the domestic market, including ready-to-eat macadamia, gluten-free macadamia flour, cold-pressed macadamia oil and blueberry packs.<\/p>\n

Following an intensive research and development programme by the Kakuzi team, the new branded consumer products will be progressively availed to the local market, management said.<\/p>\n

For More News And Analysis About Kenya<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Kenya. Listed agricultural company-Kakuzi Plc has announced a Sh171. 1 million half-year pretax profit on the back of a difficult trading period due to the prevailing macadamia global glut. The firm, which recently adopted a new corporate brand identity, enjoyed a more than double profit lift against its avocado export business, which posted […]<\/p>\n","protected":false},"author":84,"featured_media":101570,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[6857,7003,544],"class_list":["post-101572","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-kenya","tag-kenya"],"yoast_head":"\nAvocado sales growth sustains Kakuzi H1 profit run to Sh171.1m - kenya<\/title>\n<meta name=\"description\" content=\"Listed agricultural company-Kakuzi Plc has announced a Sh171. 1 million half-year pretax profit on the back of a difficu ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/all-news\/avocado-sales-growth-sustains-kakuzi-h1-profit-run-to-sh171-1m\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Avocado sales growth sustains Kakuzi H1 profit run to Sh171.1m\" \/>\n<meta property=\"og:description\" content=\"Listed agricultural company-Kakuzi Plc has announced a Sh171. 1 million half-year pretax profit on the back of a difficu ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/all-news\/avocado-sales-growth-sustains-kakuzi-h1-profit-run-to-sh171-1m\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-28T19:45:06+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-28T20:21:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2023\/08\/sm_1693237759.58733.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"667\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/avocado-sales-growth-sustains-kakuzi-h1-profit-run-to-sh171-1m#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/avocado-sales-growth-sustains-kakuzi-h1-profit-run-to-sh171-1m\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Avocado sales growth sustains Kakuzi H1 profit run to Sh171.1m\",\"datePublished\":\"2023-08-28T19:45:06+00:00\",\"dateModified\":\"2023-08-28T20:21:46+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/avocado-sales-growth-sustains-kakuzi-h1-profit-run-to-sh171-1m\"},\"wordCount\":506,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/avocado-sales-growth-sustains-kakuzi-h1-profit-run-to-sh171-1m#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2023\/08\/sm_1693237759.58733.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Kenya\",\"Kenya\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/all-news\/avocado-sales-growth-sustains-kakuzi-h1-profit-run-to-sh171-1m#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/avocado-sales-growth-sustains-kakuzi-h1-profit-run-to-sh171-1m\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/avocado-sales-growth-sustains-kakuzi-h1-profit-run-to-sh171-1m\",\"name\":\"Avocado sales growth sustains Kakuzi H1 profit run to Sh171.1m - 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