MediaCorp ©
Nairobi Stock Exchange – Authorised
Information Vendor
Faida Investment Bank - Licensed Agent
Global Overview
Finally, we get to debut Africa/Kenya on this main segment
of our global analysis albeit for reasons we might not be very proud of. Mr
Stuart Fletcher, President of Diageo's international business, told investors
at the Dresdner Kleinwort Beverages Conference that Africa is
the main driver to Diageo's overall beer performance and is now its largest
beer market, over twice the size of Ireland
and Great Britain.
There it is. We drink the most, we must be proud of it and we must buy EABL
shares at least for this reason. Diageo holds the controlling stake [51%] of
EABL.
But there is a second reason why you would wish to monitor
this counter closely. Kenya
is currently the breeding ground for Diageo as they attempt a second venture
into the soft drinks market with Alvaro after mixed success with Malta.
Angela Mwirigi (Innovations Manager) at EABL describes it as their first real foray into the soft drinks market with an ambitious goal of
grabbing at least 5% of the market before we travel 'home' for
Christmas in 2008. Armed with a modest budget of USD 3 million, EABL is about
to grab its spot in the Global Markets hall of fame as the demand for Alvaro has
outstripped supply by over 300% (at least from their projections). If
successful, Diageo plans to market these Pineapple and Pear flavoured drinks
globally. Interesting twist here…they are avoiding common flavours such as
orange and strawberry and we find this rather clever.
So, next time you order for yourself or a friend a Tusker,
Pilsner, White Cap, Smirnoff, Johnnie Walker, Captain Morgan, Baileys, J&B,
Guinness or Alvaro better do it as a shareholder in this blue chip that is
expected to be one of the best performers for 2008. Incidentally, EABL reported
a 22% increase in first half profit to 6.45 billion shillings, ($94.85 million),
boosted by sales in its main Kenyan market. Kenya
accounted for 66% of the booze sold in East Africa including Mauritius. Hep Hep
Hooray!!
In summary, Wall Street stocks fell on Friday to round out the worst week in three months as worries about high oil prices hammered energy-sensitive sectors and left investors on edge about inflation at the onset of a holiday weekend. The blue chip Dow Jones industrial average .DJI closed down nearly 146 points, or 1.1 percent. Prices of U.S. government bonds rose as investors shifted out of stocks, while the dollar fell and oil climbed above $131 a barrel.
Local Highlights
1. KCB Rights register closure date is on 4th June 2008. Issue opens and commencement in trading in Rights at the NSE on 23rd June 2008. Announcement of Rights Issues results will be on 15th August 2008 and the listing and commencement of trading of new shares will be on 1st September 2008.
2. Sameer Managing Director Eric Kimani has issued a profit warning informing the general public of an anticipated major/significant fall in profit this year citing difficult times experienced and the escalating price of oil and synthetic based tyre building inputs in the world markets.
3. CFC Bank has announced Kshs 258 million profits for the Quarter ending 31st March 2008. Profit attributable to shareholders is at Kshs 222 million and earnings per share of KShs 1.43
4. Pan Africa Insurance Holdings has announced the resignations of John Burbridge with effect from 21st may 2008 and the board has appointed Mr. Norman Kelly in his place.
5. East Africa Cables Managing Director – Mugo Kibati – has announced he will be resigning from his position at EAC at the end of June 2008.
6. Diamond Trust Group has announced un-audited results for the period ended 31st March 2008. Profit after tax 201 million and Earnings per share (basic and diluted) at Kshs 1.14.
7. Car & General has announced financial results for the half year ending March 2008. Profit before tax grew to Kshs 110 million from Kshs 69 million for the same period last year. Earning per share (basic and diluted) Kshs 3.50.
8. Standard Chartered Bank results – Profit after tax and exceptional items – Kshs 902 million.
9. Sasini results for the first half year ended 31st March 2008 shows a loss after tax of Kshs 20.47 million. The loss is attributed to unfavourable weather in the tea growing areas combined with post election violence which saw a 30% drop in production. Coffee was profitable following satisfactory prices at the auctions. Sasini has also ventured into Coffee house business with the opening of Savanna Coffee Lounge at Sasini House and a second outlet at National Museums of Kenya. The board did not recommend the payment of an interim dividend.
10. Eveready saw an 18% reduction is revenues for the first 6 months of the year whilst profit before tax was Kshs 11 million down 91% compared to the same period last year.
[For full analysis of all listed stocks – look out for MediaCorp Stock Detective Report – June/July 2008]
NSE highlights
Inflation is beckoning. Week 22 saw turnover declined to
KSh.1.2bn from KSh.1.7bn posted the previous week, the number of shares traded
stood at 32M against 38M the previous week. The NSE 20 share index was down -0.40%
or 20.59 points during the week to settle at 5149.96. The NSE All share index (NASI) edged up 0.57
points during the week to stand at 106.97.
Agricultural Sector
This sector traded 326,000 shares, which accounted for 1.01%
of the week's traded volume. Sasini was the most heavily traded counter in this
sector, with 245,000 shares changing hands at between shs.13.80 and shs.16.00. Kakuzi
down 12.16% to shs.32.50 moved 4,000 shares.
Commercial and Services Sector
Commercials had 7M shares traded, which accounted for 23.24%
of the week's traded volume. CMC Holdings actively moved 3.7M shares during the
week and closed at shs.18.70. AccessKenya moved 2.7M shares at between shs.32.00
and shs.34.00. Nation Media Group down 5.71% to shs.330.00 moved 33,000 shares.
Financial Sector
Financials had 14M shares traded and represented 43.40% of
the week's volume. KCB was the week's biggest mover with 6.7M shares changing
hands at between shs.29.75 and shs.33.25. Equity Bank up ten shillings to
shs.270.00 moved 463,000 shares.
Industrial and Allied Sector
This sector had 10M shares, which accounted for 32.02% of
the week's volume. Eveready (EA) slid to shs.4.00 on a volume of 556,000
shares, down from shs.5.15 posted the previous week. Mumias Sugar moved 5.2M
shares at between shs.12.00 and shs.12.95. KenGen moved 2.5M shares during the
week and closed at shs.25.25.
ALTERNATIVE INVESTMENT MARKET SEGMENT (AIMS)
Unchanged at shs.85.00, Williamson Tea moved 28,000 shares.
|
|
|
Price Movement This Week |
|
|
|
|
|
||||
|
|
|
16th May |
19th May |
20th May |
21st May |
23rd May |
24th May |
Price Change |
Price Change |
Shares Traded Last Week |
Total Shares Issued |
|
Agricultural |
Code |
|
|
|
|
|
|
|
|
|
|
|
Unilever Tea |
UNLV |
56.00 |
55.50 |
|
55.50 |
|
55.50 |
-0.50 |
-0.89% |
3,100 |
48,875,000 |
|
Kakuzi |
KAKZ |
37.00 |
|
|
34.75 |
35.00 |
32.50 |
-4.50 |
-12.16% |
4,066 |
19,599,999 |
|
Rea Vipingo |
RVPL |
19.15 |
19.95 |
20.00 |
20.00 |
19.00 |
19.00 |
-0.15 |
-0.78% |
74,421 |
60,000,000 |
|
Sasini |
STCL |
15.50 |
15.25 |
15.55 |
15.05 |
14.50 |
14.20 |
-1.30 |
-8.39% |
245,300 |
228,055,500 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial & Services |
|
|
|
|
|
|
|
|
|
|
|
|
Access Kenya Group |
AKGL |
32.75 |
32.50 |
32.50 |
32.50 |
32.75 |
32.75 |
0.00 |
0.00% |
2,743,463 |
199,885,578 |
|
Car & Gen |
CAGR |
50.00 |
50.00 |
50.00 |
50.00 |
50.00 |
50.00 |
0.00 |
0.00% |
50,252 |
22,279,616 |
|
CMC |
CMCH |
17.95 |
17.85 |
17.75 |
18.00 |
18.80 |
18.70 |
0.75 |
4.18% |
3,792,882 |
582,709,440 |
|
Hutchings Biemer |
HUBM |
20.25 |
|
|
|
|
20.25 |
0.00 |
0.00% |
- |
360,000 |
|
Kenya Airways Ltd |
KAIR |
47.50 |
48.00 |
47.50 |
46.50 |
45.25 |
45.00 |
-2.50 |
-5.26% |
503,895 |
461,615,484 |
|
Marshalls |
MSHL |
39.75 |
|
|
|
|
39.75 |
0.00 |
0.00% |
- |
14,393,106 |
|
Nation Media Group. |
NATN |
350.00 |
333.00 |
331.00 |
325.00 |
330.00 |
330.00 |
-20.00 |
-5.71% |
33,275 |
71,305,260 |
|
Scangroup Ltd |
SCGP |
31.50 |
31.25 |
31.25 |
31.25 |
31.25 |
31.75 |
0.25 |
0.79% |
255,444 |
160,000,000 |
|
Standard Group Ltd |
STDG |
53.00 |
51.00 |
52.50 |
54.50 |
53.00 |
53.00 |
0.00 |
0.00% |
21,432 |
73,275,029 |
|
TPS Eastern Africa (Serena) Ltd |
TPEA |
68.50 |
67.50 |
68.50 |
69.50 |
71.50 |
72.00 |
3.50 |
5.11% |
86,310 |
105,864,742 |
|
Uchumi Supermarkets |
UCHM |
14.50 |
|
|
|
|
14.50 |
0.00 |
0.00% |
|
180,000,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial |
|
|
|
|
|
|
|
|
|
|
|
|
Barclays Bank |
BARC |
73.00 |
72.50 |
73.00 |
72.50 |
72.50 |
72.00 |
-1.00 |
-1.37% |
932,817 |
1,357,884,000 |
|
CFC Bank |
CFCB |
116.00 |
116.00 |
112.00 |
118.00 |
116.00 |
118.00 |
2.00 |
1.72% |
106,868 |
273,684,211 |
|
Diamond Trust |
DTBK |
96.00 |
95.00 |
94.00 |
92.50 |
96.00 |
96.00 |
0.00 |
0.00% |
457,338 |
163,037,108 |
|
Equity Bank Ltd |
EQTY |
260.00 |
259.00 |
262.00 |
269.00 |
273.00 |
270.00 |
10.00 |
3.85% |
463,565 |
362,209,905 |
|
Housing Finance |
HFCK |
29.75 |
30.00 |
30.25 |
30.25 |
29.75 |
29.75 |
0.00 |
0.00% |
400,021 |
115,000,000 |
|
Centum Limited |
CENT |
26.25 |
26.50 |
26.75 |
26.50 |
27.00 |
27.00 |
0.75 |
2.86% |
1,329,110 |
549,951,880 |
|
Jubilee Holdings Ltd |
JBLH |
198.00 |
197.00 |
|
194.00 |
196.00 |
191.00 |
-7.00 |
-3.54% |
17,800 |
45,000,000 |
|
K.C.B Bank |
KCBL |
30.00 |
30.25 |
30.25 |
30.25 |
30.50 |
31.00 |
1.00 |
3.33% |
6,706,873 |
1,996,000,000 |
|
Kenya Re |
KERE |
15.70 |
15.60 |
15.75 |
15.65 |
15.80 |
15.85 |
0.15 |
0.96% |
2,134,548 |
600,000,000 |
|
National Bank |
NBKL |
55.00 |
57.00 |
55.00 |
55.50 |
56.00 |
56.00 |
1.00 |
1.82% |
445,018 |
200,000,000 |
|
National Industrial Credit |
NICB |
60.00 |
61.00 |
61.50 |
62.00 |
62.00 |
62.50 |
2.50 |
4.17% |
657,553 |
296,692,383 |
|
Pan Africa Insurance Holdings Ltd |
PAIH |
80.00 |
73.50 |
73.00 |
78.00 |
75.00 |
72.50 |
-7.50 |
-9.38% |
25,200 |
48,000,000 |
|
Standard Chartered Bank |
SCBL |
210.00 |
210.00 |
210.00 |
210.00 |
211.00 |
211.00 |
1.00 |
0.48% |
302,595 |
271,967,810 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Industrial & Allied |
|
|
|
|
|
|
|
|
|
|
|
|
Athi River Mining Ltd |
ARML |
96.00 |
97.00 |
97.50 |
98.00 |
98.50 |
98.00 |
2.00 |
2.08% |
125,640 |
94,000,000 |
|
BOC (K) |
BOCK |
160.00 |
|
|
|
|
160.00 |
0.00 |
0.00% |
- |
19,525,446 |
|
Bamburi |
BMBR |
190.00 |
193.00 |
|
188.00 |
189.00 |
189.00 |
-1.00 |
-0.53% |
270,000 |
362,959,275 |
|
British American Tobacco |
BATK |
160.00 |
159.00 |
159.00 |
160.00 |
160.00 |
160.00 |
0.00 |
0.00% |
77,235 |
100,000,000 |
|
Carbacid |
CARB |
137.00 |
|
|
|
|
137.00 |
0.00 |
0.00% |
- |
11,326,755 |
|
Crown Berger |
CRBG |
43.25 |
43.00 |
43.00 |
44.75 |
45.00 |
44.75 |
1.50 |
3.47% |
14,340 |
23,727,000 |
|
E.A.Cables |
EACL |
42.75 |
42.50 |
42.75 |
42.00 |
41.50 |
41.00 |
-1.75 |
-4.09% |
359,920 |
202,500,000 |
|
E.A.Portland |
EAPC |
109.00 |
|
110.00 |
110.00 |
110.00 |
110.00 |
1.00 |
0.92% |
4,900 |
90,000,000 |
|
E.A.Breweries |
EABL |
179.00 |
179.00 |
179.00 |
179.00 |
181.00 |
180.00 |
1.00 |
0.56% |
467,979 |
790,774,356 |
|
Eveready East Africa Ltd |
EEAL |
5.15 |
5.00 |
4.80 |
4.65 |
4.20 |
4.00 |
-1.15 |
-22.33% |
556,433 |
210,000,000 |
|
Kenol |
KOCL |
92.50 |
93.00 |
92.50 |
92.50 |
92.50 |
92.50 |
0.00 |
0.00% |
25,020 |
147,176,120 |
|
K.Pow.& L. |
KPLC |
206.00 |
201.00 |
203.00 |
204.00 |
205.00 |
207.00 |
1.00 |
0.49% |
119,509 |
79,128,000 |
|
KenGen |
KEGN |
24.75 |
24.75 |
24.75 |
25.00 |
25.00 |
25.25 |
0.50 |
2.04% |
2,514,862 |
2,198,361,456 |
|
Mumias |
MSCL |
12.20 |
12.25 |
12.20 |
12.15 |
12.15 |
12.15 |
-0.05 |
-0.41% |
5,282,997 |
1,530,000,000 |
|
Olympia Capital Holdings |
OCHL |
13.60 |
13.10 |
13.00 |
13.50 |
13.05 |
13.10 |
-0.50 |
-3.68% |
100,750 |
40,000,000 |
|
Sameer Africa Ltd |
SAMR |
11.05 |
11.00 |
10.90 |
10.60 |
10.95 |
10.95 |
-0.10 |
-0.90% |
97,021 |
278,342,393 |
|
Total |
TOTL |
34.00 |
34.25 |
34.25 |
34.00 |
33.50 |
33.50 |
-0.50 |
-1.47% |
250,180 |
175,064,706 |
|
Unga |
UNGA |
14.25 |
14.20 |
13.85 |
14.20 |
14.40 |
13.85 |
-0.40 |
-2.81% |
46,850 |
63,090,728 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Alternative Investment Market Sector (AIMS) |
|
|
|
|
|
|
|
|
|
|
|
|
A.Baumann |
ABCL |
11.10 |
|
|
|
|
11.10 |
0.00 |
0.00% |
- |
3,840,066 |
|
City Trust |
CITL |
150.00 |
150.00 |
|
150.00 |
|
150.00 |
0.00 |
0.00% |
2,400 |
5,207,558 |
|
Eaagads |
EAGD |
37.00 |
|
|
|
37.00 |
37.00 |
0.00 |
0.00% |
200 |
8,039,250 |
|
Express |
EXPK |
20.50 |
20.00 |
20.50 |
20.50 |
21.00 |
21.00 |
0.50 |
2.44% |
64,872 |
35,403,790 |
|
Williamson Tea |
WTKL |
85.00 |
|
|
|
85.00 |
85.00 |
0.00 |
0.00% |
28,100 |
8,756,320 |
|
Kapchorua |
KTCL |
76.00 |
|
|
|
|
78.00 |
2.00 |
2.63% |
- |
3,912,000 |
|
K.Orchads |
KEOL |
3.00 |
|
|
|
|
3.00 |
0.00 |
0.00% |
10,000 |
12,868,124 |
|
Limuru Tea |
LTCL |
338.00 |
|
|
|
|
338.00 |
0.00 |
0.00% |
- |
600,000 |
Bildad Kagai
MD - MediaCorp Limited
Nairobi Stock Exchange Authorised Information Vendor
Suite B2,
Tetu Apartments, State House
Avenue
S1°18.166
E36°49.797
P. O. Box 20311 -
00200
Nairobi, Kenya
Tel. 254 20 272 8332
Fax. Rendered Obsolete
www.mediacorp.co.ke