Kakuzi Plc provided earnings guidance for the year ended December 31, 2021. The net earnings for the year ended 31st December 2021 will potentially be at least 25% lower than that reported for the year ended 31st December 2020. The anticipated drop in full-year earnings is principally as a result of: Hass avocado production which is prone to a year of low production after a year of high production (a principle known as biannual bearing).

2021 Hass production was 18% lower than last year. As announced in the half-year trading results commentary, the lower yield was anticipated. Lower global market prices in European markets.

This is due to an oversupply of fruit from Peru and Columbia which impacted prices during the same period that fruit was also in the market.