Kevin - Nairobist Editor
Nation Media Group: FY08 Net profit up 18%, Free Cash Flows down 75%
Nation Media Group, an NSE listed and leading media house in East Africa, announced a 19.3% growth in its profit before tax (PBT) for its financial year ended December 31, 2008. The Group’s PBT increased from Ksh.1.6 billion in 2007 to Ksh.1.91 billion in 2008 in what the management termed as a modest growth considering [...]
Dividend Hunting at the NSE
Over the recent weeks NSE listed companies have been releasing their full year results for 2008 and most of them have announced dividends for their shareholder. In this bear ridden NSE that has seen the decline of capital gains to nil, the only thing remaining is investing in stocks with good dividend payout culture. This [...]
Pan Africa Insurance Slips into a Ksh.96 Million Loss
Pan Africa Holdings, one of the largest listed insurers in Kenya has recorded a huge loss in profit for the financial year ended December 2008. The insurer saw its profit fall from Ksh.146.9 million at the end of 2007 to a Ksh.95.6 million loss. The massive loss was attributed to the downturn in the firm’s [...]
AccessKenya FY08 Revenue Jumps 75% to Surpass the Ksh.1 Billion Mark
AccessKenya Group, a listed ICT company and leading Corporate Internet Service Provider, announced a 65% increase in its profit before tax for the year ended December 31, 2008, from Ksh.171 million in 2007 to Ksh.263 million in 2008. This was attributed to increased data business. Pretax profit before extraordinary items rose by 65% to Ksh. [...]
NBK FY08 Pretax Profit Up 12%
National Bank of Kenya (NBK) announced a Ksh.1.8 billion pre-tax profit for the year ending December 31, 2008. Total operating income grew by 8% to Ksh.5.1 billion from Ksh.4.7 billion in 2007, while total operating expenses increased by 6% from shs.3.1 billion to Ksh.3.3 billion during the same period.
Lending to customers grew by 15% to [...]
Diamond Trust Bank FY08 Profits Rise an impressive 52%
Results Review
Diamond Trust Bank announced a 52% rise in pretax profits for its financial year ended December 31, 2008 to Ksh.1.6 billion up from Ksh.1.1 billion in 2007. The impressive results are attributed to increased customer numbers due to a rapid branch expansion programme the bank is implementing across the East Africa. Customer deposits increased [...]
Standard Group FY08 Pre-tax Profit Grows 4%
The Standard Group Limited (SGL) profit for the financial year ended December 31, 2008 rose 4% to Ksh.428 million from Ksh.413 million at the same time in 2007. The Group’s revenue for the period increased by 8% to stand at Ksh.2.8 billion, while operating income rose 14% to stand at Ksh.514million. Earning Per Share (EPS) [...]
Kakuzi FY08 Pre-tax Profit Up 44%
Kakuzi turned around a 39% decline in its half-year profit to declare a 44% profit in the full year results. The company pre-tax profit rose to Ksh.390 million for the financial year ended December 31, 2008 compared to Ksh.270 million over the same period in 2007. This was mainly due to Ksh.181 million arising from [...]
Coop Bank FY08 Pre-tax Profit Grows 48%
Cooperative Bank, the fifth largest bank in Kenya by assets base, reported a 48% increase in its 2008 pretax profits to Ksh.3.4 billion from the Ksh.2.3 billion in 2007. The increase in profit was attributed to the growth in interest income and an impressive performance in the bank’s treasury operations, which resulted in an overall [...]
Comparative Analysis of Top Four NSE Banks FY2008 Results: Stanchart, Barclays, KCB & Equity
2008 was one tricky year for the financial sector world wide and particularly in Kenya. The year opened on a violent note for Kenyans after a botched general election and went on to several global calamities from rising oil and food prices to the global financial crisis. Despite all these, Kenyan listed banks/financial institutions have [...]
