In yesterday’s trading, the counter dropped KE S 1.45 to close at KES 13.30 a share. During the day it dropped by greater margins and traded at KES 12.25 at some point.

This drop can be attributed to the announcement of a drop in annual profits from KES 1.237 billion last year to KES 446 million this year. See our analysis of their financial results here.

[caption id="attachment_11123" align="alignleft" width="577" caption="Image from bloomberg.com"][/caption]

We will continue observing the performance of this counter over the course of the day.