COMMERCIAL & SERVICES
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 [...]
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% [...]
AccessKenya: HY2009 Profit down 20%
Access Kenya Group profits after tax for the first half of 2009 (KES75 million) show a decline of 20% in profit after tax compared to the same period in 2008 (KES94 million). Access Kenya’s FY2009 administrative expenses increased by 37% compared to the same period in 2008. Total revenue in the first six months grew [...]
Kenya Airways reports huge fuel-hedging loss
Kenya Airways has reported an annual loss of KES5.6 billion as its fuel-hedging loss ballooned to KES 8.9 billion for the fiscal year ending March 31. This is KQ’s first losing fiscal-year after thirteen years of profitability. Kenya Airways was listed at the NSE in 1996.
Kenya Airways lost KES 8.9 billion equivalent to KES 8.8 [...]
Safaricom: FY09 net profit down 23.9%
Safaricom Limited, Kenya’s leading mobile communications provider announced a 14.22% decrease in its profit after tax for the twelve months period ending March 31 2009, which dropped to KES 10.5 billion from KES 13.8 billion for the same period in 2008. Total revenue over the twelve months grew by 14% while operating expenses increased from [...]
Scangroup: A Closer look at FY2008 Results
Scangroup Limited (NSE Listed) reported revenues of KES5.78 billion for the 12 month period ended December 31, 2008, compared to KES4.77 billion for the same period in 2007. For the twelve months ended December 31, 2008, profit before taxation totaled KES436 million, compared to KES352 million for the 2007 financial year. The Company’s net profit [...]
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 [...]
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. [...]
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) [...]
KQ Profit Warning - Financial Year ending 31st March 2009
As a result of the current global economic crisis, the airline industry, in common with other major industries, faces major challenges. During the first half of the financial year, fuel prices peaked at an all time high of Usd 147 per barrel in July 2008.
IATA estimates indicate that the combined industry loss in the in [...]
