OTHER NEWS
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 [...]
EABL Half Year Profits Up 4.8%
East African Breweries., a leading brewer in East Africa, has reported a 4.8% increase in pre-tax profit for their first six months of the year 2009. The firm’s pre-tax profit s rose to ksh.6.7 billion up from Ksh.6.4 billion declared last year. Its turnover grew by 12.5% to stand at ksh.18 billion from Ksh.16 billion [...]
Cooked Books: Accuracy & Reliability of NSE Financial Announcements
Another major financial scandal involving India’s Satyam Computer Services, world’s third largest IT outsourcing company, has once again rocked the global financial world. This coming in the middle of a global financial crisis, market pundits here in Kenya are questioning the veracity of financial statements and company information churned out by listed Nairobi Stock Exchange [...]
State of the NSE in 2008
2008 was one year Kenyans and the rest of the world would remember for mostly the bad reasons. The year opened on a violent note for Kenyans after a botched general election that left the country divided on tribal and political affiliations. Once the political impasse was ‘resolved’, the year opened up to several global [...]
Another Press Release from AIG Kenya in a Week.
AIG Kenya Insurance Co. Ltd
A Member of American International Group, Inc.
PRESS RELEASE
The issues surrounding AIG, Inc. were never about the insurance operations, which are profitable, protected and highly regulated. We continue to write new business pay claims, and have received tremendous public support in the last week from regulators, brokers and clients throughout the world. [...]
AIG Kenya Insurance Co. Ltd.: Press Release
This is an update on the latest developments at AIG.
Despite the recent challenges faced by AIG Inc., in the United States, AIG’s International property-Casualty operations (Foreign General Insurance companies) which include AIG Kenya Insurance Company Limited have a capital position that remains intact and are available to underwrite policies and pay policyholder claims. Moreover, these [...]
Uganda Clay Ltd Releases 2006 Financial Results
Uganda Clays Ltd (Uganda Securities Exchange: UCL Ltd), Ugandan based supplier of clay products in the housing and construction industry, recently announced their 2006 financial results for the full year ended December 31, 2006.
>>Turnover totaled Ush 9,984 million, a 26.14 percent increase from the previous year.
>>Profit before tax totaled Ush 1,768 million a 32.98 percent [...]
Stanbic Uganda Half year profits surge 31%; deposits hit UShs0.96 trillion
Stanbic Bank Uganda (USE Listed), has reported net income of UES24.2 billion, for the six months ended June 30, 2007 as compared to UES18 billion for the same period in 2006.
Stanbic Bank Uganda (USE Listed), has reported net income of UES24.2 billion, for the six months ended June 30, 2007 as [...]
NIC, Unilever Dropped as NSE updates Tracking Index
The Nairobi Stock Exchange, yesterday announced major changes to the bourse’s main tracking index. Dropping NIC Bank, BOC Gases, Unilever, Kakuzi, Uchumi Supermarkets, Williamson Tea and replacing them with ICDC Investments, KenGen, Mumias Sugar, Rea Vipingo, Cooper Motors Corporation (CMC) and Express Ltd. The NSE 20 index has been criticized in the past for inaccurately [...]
Standard Group takes over Baraza Limited
Baraza Limited shall now become a wholly (100%) owned subsidiary of the Standard Group Limited.
TAKE NOTICE that following the approval by the Shareholders of the Standard Group Limited at the Annual General Meeting on the 18th day of May, 2007 with respect to the acquisition of minority interest in Baraza Limited, the [...]
