Kakuzi (LSE:KAKU), the Kenya-based agricultural producer of avocados, macadamia, tea, blueberries and forestry products, reported an avocado operating profit of Ksh 215.9 million (c.£1.22m) for the six months to 30 June, down from Ksh 394.9 million (c.£2.24m) a year earlier.
A well-supplied global avocado market pressured prices late in the period, compounded by a lower-than-expected crop and disrupted shipping routes.
Macadamia fared worse, with operating profit falling to Ksh 68.2 million (c.£360,000) from Ksh 318.8 million (c.£1.8m) in the first half of 2025.
Macadamia suffered from rising global supply and weaker demand, softening the market sharply.
Kazuki, meanwhile, further noted the exceptionally dry conditions at the end of 2025, plus the impact of the Middle East conflict as it warned that full-year results are now seen "at least 25%" lower than last year.
It noted that Blueberry operating profits rose to Ksh 15.1 million from Ksh 13.4 million in the first half, and, its forestry profit improved to Ksh 73.3 million from Ksh 42.9 million, while tea and livestock traded in line with expectations amid a slight strengthening in tea prices.
Looking ahead, the agribusiness said it remained guided by its belief, in a long-term view, that with sufficient diversification and disciplined execution, it can withstand the shocks and build sustainable value. Moreover, it repeat its strategic priorities are focused on 'superfoods' like avocado and macadamia as it looks toward the maturity of its existing orchards, and it plans to diversify into new 'superfoods' and geographies.
