Markets Editor
Equity Bank FY09 Pre-tax Profit Growth Slows down to 5%
Equity Bank 2009 full year profit slowed down to a mere 5%, from Ksh.5.02 billion at the end of 2008 to Ksh.5.278 in the period under review, after recovering from a 15% half-year dip in profit. The bank late last year indicated it expected to record a 20% growth in profit for the full year, [...]
Barclays Bank (K) FY09 Pre-tax Profits Rise 12%
Barclays Bank of Kenya Full year pre-tax profits for the year ended December 31 2009 rose 12% to stand at Ksh.9.002 Billion from compared to Ksh.8.016 Billion the previous year. This was mainly attributed to effective cost controls and a significant drop in provisions for bad loans.
The bank raised its dividend per share to Ksh.2.50 [...]
KCB Group FY09 Pre-tax Profit Rise 5%
Kenya Commercial Bank, the biggest bank in Kenya in terms of assets, reported a 5% rise in its 2009 pretax full year profit to stand at Ksh.6.3 billion compared to 2008’s Ksh.6.012 billion. This was mainly attributed to gains in net income, debt recoveries and a fall in provisions for bad loans. Net income jumped [...]
EABL H1 Pre-tax Profit Drops 8%
East African Breweries Limited pre-tax profit for the six months ended December 31 2009 dropped 8% to Ksh.6.2 billion from Ksh.6.7 billion in the same period last year. Revenue grew to Ksh.18.6 billion on the back of improved sales. Sales volumes fell 10% across the company’s regional markets, but its impact on sales was softened [...]
Mumias Sugar H1 Pre-tax Profit Rise 561%
Mumias Sugar Co Ltd’s pre-tax profit for the six months ended December 31 2009 rose 561% on account of high sugar prices and effective cost cutting measures. The listed miller’s pre-tax profit increased from Ksh.231 million during the same period last year to Ksh.1.5 billion this period.
Net revenues for the miller rose 48.08% to Ksh.7.7 [...]
Uchumi: Return to Profitability, Return to the NSE
At last Uchumi Supermarket may be headed back to the NSE. A resolution passed in the 29th January AGM, where shareholder approved to have government debt and others creditors to be converted into equity. This will see the number of share in the supermarket chain raise to 262.5 million, with a share capital of Ksh.2.4 [...]
Rea Vipingo FY09 Results Misses Its Projection
In November 2009 Rea Vipingo projected a growth of 12.5% in their full year earnings on account of strong marketing arrangements, favorable weather conditions, a stronger shilling exchange rate and an upturn in the global economy. However the company’s 2009 full year results indicated an 11% decline in profit after tax of Ksh.148 million from [...]
CMC Holdings FY09 Pre-tax Profit falls 39%
Car dealer, CMC Holdings reported a 39% decline in its pre-tax profit for the year ended September 30, 2009. Coming a few weeks after the company issued a profit warning to its shareholders last month, an audited preliminary financial statement for the year under review shows that vehicle sales went up by a mere 2.1% [...]
Barclays Q3 Pretax Profit Grows Marginally by 4%
Barclays Bank of Kenya Ltd. Pretax profit for the nine months ended September rose marginally to 4.22% to stand at Ksh.6.63 billion from Ksh.6.36 billion the same period in 2008. The bank’s earnings per share for the period rose to Ksh.3.4 from Ksh.3.2 the previous year.
Customer deposits dropped to Ksh.123 billion from Ksh.132 billion [...]
Cooperative Bank Nine Months Pre-tax Profit Rise 10%
Co-operative Bank reported a 10% rise in pre-tax profits for the nine months period ending September 30. The bank recorded Ksh.2.85 billion up from Ksh.2.59 in the corresponding period in 2008. This was mainly driven by a 27% increase in net interest income from Sh3.9 billion to Sh4.9 billion.
During the period under review, net loans [...]
