Ok, we get it! Somehow the numbers at the NSE have improved and every one is rushing to tell us how things are getting better. Good for them and for those who beat the herd mentality and averaged down on their equities during the down-turn. NSE has a report on how they are the best in Africa for Q1 2010. The market index rose 24.89% during the period, crossing both the 4,000 NSE-20 index and the Ksh.1 trillion mark in capitalization.
Dyer & Blair and Apex Africa stock brokers have published their impressive Q1 results. Compared to their full year results things are really looking up. D&B Q1 pre-tax profit rose 166% to Ksh.35 million, compared to a Ksh.53 million loss in the same period last year. Commissions’ increase 202% to Ksh.54 million; total income increased by 114% to Ksh.103 million (including Ksh.35 mln from unrealized revaluation gain on equity investment); while total expenses dropped 30% to Ksh.64 million mainly due to a 43.9% (to Ksh.12 mln) reduction in operations and admin costs.
Apex operating profit was already 130% up for the first three months of the year to stand at ksh.35 million compared to only ksh.15 million for the full year 2009. Their Q1 published statement was more of a ‘gloat statement’ looking at its sheer size with no much information to go with.
@AlykhanSatchu of rich.co.ke expects Kenya’s GDP to grow by at least 5% this year. Quite optimistic, but could happen. Everything is going well: farmers experiencing a bumper harvests, easing inflation rate and interest rates, reduced political tension (for now) and a seemingly return of foreign investors to our markets (though some pundit tells me that’s not the case). Striking oil now would be a nice addition. At least we won’t worry about shifting balance of trade with our good neighbors the Ugandans.
As much as I share in our brokers and NSE excitement, at least these good tidings have reversed my paper loses; I think it’s too early to scream eureka! Not yet. It would be wise to wait and see developments in Q2 and what the reviewed constitution referendum will unearth in our political scene.
Most of the listed firms, with an exception of banks, have posted improved results too. Some activities expected at the NSE this year include a rights issue from KCB, separate listing of the CFC/Stanbic insurance arm and relisting of Uchumi supermarket. An IPO would be in order, but not without some improvement of brokers corporate governance.
Dyer & Blair and Apex Africa stock brokers have published their impressive Q1 results. Compared to their full year results things are really looking up. D&B Q1 pre-tax profit rose 166% to Ksh.35 million, compared to a Ksh.53 million loss in the same period last year. Commissions’ increase 202% to Ksh.54 million; total income increased by 114% to Ksh.103 million (including Ksh.35 mln from unrealized revaluation gain on equity investment); while total expenses dropped 30% to Ksh.64 million mainly due to a 43.9% (to Ksh.12 mln) reduction in operations and admin costs.
Apex operating profit was already 130% up for the first three months of the year to stand at ksh.35 million compared to only ksh.15 million for the full year 2009. Their Q1 published statement was more of a ‘gloat statement’ looking at its sheer size with no much information to go with.
@AlykhanSatchu of rich.co.ke expects Kenya’s GDP to grow by at least 5% this year. Quite optimistic, but could happen. Everything is going well: farmers experiencing a bumper harvests, easing inflation rate and interest rates, reduced political tension (for now) and a seemingly return of foreign investors to our markets (though some pundit tells me that’s not the case). Striking oil now would be a nice addition. At least we won’t worry about shifting balance of trade with our good neighbors the Ugandans.
As much as I share in our brokers and NSE excitement, at least these good tidings have reversed my paper loses; I think it’s too early to scream eureka! Not yet. It would be wise to wait and see developments in Q2 and what the reviewed constitution referendum will unearth in our political scene.
Most of the listed firms, with an exception of banks, have posted improved results too. Some activities expected at the NSE this year include a rights issue from KCB, separate listing of the CFC/Stanbic insurance arm and relisting of Uchumi supermarket. An IPO would be in order, but not without some improvement of brokers corporate governance.
1 comment
I think it is a great thing to see some excitement about the NSE. The positive talks will at least build the investors confidence on the market once again, but the truth is the politics might again come back to haunt our dear market. I just hope that Kenyans sort out their political differences peacefully.
Sat Apr 24, 12:09:00 AM EATPost a Comment