The NSE 20 Share Index recorded positive results advancing 0.63% to 2,983.20 points. NSE 25 Share Index was 0.45% higher with NASI slipping 0.37% upwards due to improved prices. Market capitalization inched 0.36% higher to KES 1,817.66Bn. High foreign activity on Safaricom saw 31.34Mn shares or 63.87% and KES 564.13Mn or 70.99% of day’s volumes and turnover respectively. The counter boosted total volumes up by 43.46% to 49.07Mn from 34.20Mn while total turnover was up 37.10% to KES 794.94Mn from KES 579.8Mn
BAT released it FY-2017 results with PAT declining by 15% to KES 4.23Bn from KES 4.98Bn while PBT was down 17.2% to KES 5.91Bn from KES 7.14Bn. This was despite a2.40% revenue growth to KES 36.68Bn from KES 35.82Bn. This was driven by higher domestic revenue following increase in excise led price increase which was offset by lower contract manufacturing. Cost of operation was down 9% to KES 13.3Bn. The board recommended a final dividend of KES 39.50 for a total dividend of KES 43.00. The counter remained flat with not trades.
BBK saw its FY-2016 PAT ease 11.92% to KES 7.40Bn from KES 8.40Bn while PBT declined by 10.11% to KES 10.85Bn from KES 12.07BN. NII grow by 9.43% to KS 22.33BN from KES 20.41Bn. This was enabled by improved Interest income, 11.21% to KES 28.12Bn driven by a 9.44%, 8.69% and 46.86% growth in interest from loans and advances, government security and other income respectively. Interest expense was at KES 5.79Bn, up 18.7% due to increase of 6.46%, 6.21% and 1,322.22% increase in interest on customer deposit, deposit and placement and other expenses respectively. NOI saw a marginal growth of 3.3% on a slowdown on fees and commission income (-38.68%). Loan Loss Provision shot up by 122.40% to KES 3.93Bn. Loans and Advances were up 15.91% while deposits increased by 7.93%.
AE Portland announced a H1-2017 operating loss of KES 414.25Mn compared to a loss of KES 279.681Mn same period in 2016. The company saw its revenues shrink by 19.44% to KES 3.72Bn from KES 4.62Bn. Loss after tax improved to KES 533.70Mn from KES 745.03Mn. The cement manufacturer expects a decline in cement demand due to election uncertainties and low household income coupled by the drought effect
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