Kenya Orchards 27% Profit Increase
Kenya Orchards Limited has released its financial results for the year ended 31st December 2012. The company’s profit before tax increased by an impressive 100.9% in the year moving up from Kshs. 620,520 in the previous period to Kshs. 1,246,812 in the year ended December 2011. Profit after tax increased…
Nigerian Company may get a stake in ARM.
Africa Finance Corporation, a Nigeria- based development-finance institution that is providing a $50 million convertible loan to Athi River Mining Limited (ARM), may get a 13.62 percent stake in the Kenyan cement maker if the loan is converted into equity. A convertible loan is similar…
Ngenye Kariuki & Company Limited to Return to NSE
On December 19th 2011, the Capital Markets Authority (CMA) resolved to revoke the statutory management of Ngenye Kariuki & Company Limited. Mrs. Stella Kilonzo, the Chief Executive Officer of the CMA, said the revocation of the statutory management was positive and that it was geared at facilitating completion…
Property Developers Biased to Residential Buildings.
Property developers have in the recent days preferred to develop residential buildings which have a shorter payback period as opposed to commercial real estate. Data from the Kenya National Bureau of Statistics shows that the value of residential building plans rose from Sh66 billion in…
ARM reports 7% increase in profits to 1.15 billion
Athi River Mining yesterday reported an after tax profit of Ksh 1,150,498 for the year ended December 31st 2011. This is a 7% increase in their profits from Ksh 1,075,268 for the same period the previous year. Group Turnover increased by 37% from Ksh. 5.96 billion in 2010 to…
NIC Bank plans 2 Billion Shilling Rights Issue
Yesterday Mr James Macharia, NIC Bank’s chief executive officer, announced that plans were underway to complete a Ksh 2 billion rights issue by end of July, this would make it the second listed firm after Kenya Airways to tap the capital markets this year. The rights issue is…
Nairobi Has The Fastest Growing Luxury Real Estate Prices on The Planet
It’s no secret real estate prices in Nairobi have seen phenomenal growth over the last 10 years, driven by an improving economy, rural-urban migration, easier access to home loans and increasingly wealthy Kenyans abroad investing their money back home. What is surprising though, is that in 2011, prices at…
Got a Spare Room? Get Some Spare Cash
Living in Nairobi for the single person is not an easy thing, especially when it comes to finding housing. Most decent housing in middle and upmarket areas such as South B, C, Kilimani, Kileleshwa and Westlands is built with families in mind, and thus the single renter either has…
Closing Bell 28/3/2012
Gainers Gainers Price Change Uchumi Supermarkets 12.05 7.11% Housing Finance 14.55 3.93% National Bank of Kenya 18.90 2.72% AccessKenya Group 4.10 2.50% Barclays Bank of Kenya 12.35 2.49% Losers Olympia Capital Holdings 3.35 9.46% TPS (Serena) Eastern Africa 45.00 7.22% Total Kenya Limited 15.25 4.39% Eveready East Africa…
NSE – FTSE Indices to be broadcast live
On Monday 26th March 2012, the Nairobi Securities Exchange announced that, in cooperation with FTSE, a world-leader in the provision of global index and analytical solutions, the delayed index values of the FTSE NSE Kenya 15 Index and the FTSE NSE Kenya 25 Index are now available on…
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