Kakuzi issues profit warning for 2012
30 November 2012, 11:49
Nairobi - Kenyan agricultural firm Kakuzi Ltd warned on Friday that its 2012 profit would be at least 25 percent lower than last year's level.
It cited the lower prices of its export crops due to the economic problems in the euro zone, a strengthening of the Kenyan shilling against the euro as well as the sale of a subsidiary tea firm.
Kakuzi, which produces tea, avocado and pineapples, posted a pretax profit of 920 million shillings ($10.70 million) in 2011.