Yesterday, Kakuzi Limited’s share gained for the second day running and rose by 0.6% to Ksh. 80 per share, the highest since March 1^st 2012. This seems to be in response to the increase in profit they reported for the period ended 31^st December 2012.

According to their financial results published on the NSE website, Kakuzi’s profits rose by 66% to Ksh. 644,397,000 from Ksh. 388,666,000 in a similar period the previous year. The company’s directors then recommended the payment of a dividend of Ksh. 3.75 per share, 50% up from the previous period’s Ksh. 2.50 per-share dividend subject to shareholders’ approval. The dividend shall be paid around 30^th June 2012 to the shareholders on the members’ register at the close of business on Thursday, 31 May 2012.

The positive financial results could be attributed to good international tea and avocado prices coupled with the record-low exchange rate during last year that was favourable to the company as it made Kenyan agricultural exports (such as theirs) more competitive in the international market.

Read more on Kakuzi’s financial results here.