Kakuzi Plc provided earnings guidance for the year ended December 31, 2023. The net earnings for the year ended 31st December 2023 may be at least 25% lower than those of financial year 2022. This anticipated drop in full year net earnings is mainly as a result of Macadamia business which is expected to post a loss due to a significant decline in demand and price in the global markets of China, Japan and the USA.

However, other crops are performing as per expectations with a strong performance expected from Avocado. This profit warning announcement is based on the performance to date with reference to information currently available.