NAIROBI, Kenya, Oct 22 – Agricultural firm Kakuzi Plc has warned that its 2026 full-year earnings will fall significantly below last year’s level as weak macadamia prices and a smaller harvest hurt its performance.
In a revised profit warning issued on October 21, the company said the expected decline was worse than it had projected in August, when it warned that earnings could fall by at least 25 percent.
Kakuzi reported net earnings of Sh387.6 million in the previous financial year. A 25 percent drop would have reduced that figure to below Sh290.7 million.
The company has not given a new earnings estimate or stated how much further profits are expected to fall.
Kakuzi attributed the weaker outlook to a continued downturn in the macadamia market and lower production volumes.
“Net earnings to be significantly below the previous year as a result of the continued downturn in the macadamia market and a lower macadamia crop,” the company said in the notice.
Macadamia is one of Kakuzi’s main agricultural products, alongside avocados, tea and livestock.
