Former Uchumi top managers on the spot over Sh1bn cover-up
Former Uchumi top managers on the spot over Sh1bn cover-up The revelation that Uchumi Supermarkets manipulated financial statements to the tune of Sh1.04 billion has put former senior managers including ex-chief executive Jonathan Ciano on the spot. Uchumi has announced that the former management had…
Closing Bell: East African Portland Cement Company Top Gainer as Uchumi Supermarket Limited Declines
East African Portland Cement Company Top Gainer as Uchumi Supermarket Limited Declines East African Portland Cement Company (PORT) was the top gainer of the day. It gained 9.64% to close at KES 45.50 which was a KES 4.00 gain in share price. Uchumi Supermarket Limited (UCHM) was the top loser…
Uchumi battles to recover Sh2bn from landlords
Uchumi battles to recover Sh2bn from landlords Uchumi had committed to open more than 20 outlets in Kenya in the mid-term and had reserved space in malls such as Centum-owned Two Rivers, Sarit Centre, Lake Basin Mall in Kisumu and Kenyatta University’s Unicity. The payments now…
NBK net income more than doubles
NBK net income more than doubles The National Bank of Kenya has announced a more than double growth in net earnings for the nine months to September to Sh2.3 billion from Sh1 billion the same period last year. The group’s total interest income of rose to Sh9.75 billion…
Closing Bell:East African Portland Cement Company Top Gainer as Atlas Development and Support Services Ltd Declines
East African Portland Cement Company Top Gainer as Atlas Development and Support Services Ltd Declines East African Portland Cement Company (PORT) was the top gainer of the day. It gained 10% to close at KES 44.00 which was a KES 4.00 gain in share price. Atlas Development and Support Services…
National Bank of Kenya 2015 Q3 Results
National Bank’s profit for the 9 months ended September 2015, increased by 120.59% to KES 2.25 billion compared to KES 1.02 reported in Q3 2014. Interest income increased by 27.80% to KES 9.75 billion compared to KES 7.63 billion reported in Q3 2014. Pretax profit increased by 79.89% to KES…
Crown Paints’ Sh400m Kisumu plant set for January launch
Crown Paints’ Sh400m Kisumu plant set for January launch Crown Paints will open a Sh400 million plant in Kisumu in January to cut costs and capture a larger share of the growing real estate market in the western region. The company is seeking to increase its…
Ex-workers sue Uchumi for Uganda exit
Ex-workers sue Uchumi for Uganda exit Former employees of Uchumi Supermarket have sued the retail chain for not informing them prior to closure of its Ugandan branches and exiting the country without remitting their salaries. Former employees say Uchumi Supermarket duped them and closed shop without…
Closing Bell: Total Kenya Ltd Top Gainer as Atlas Development and Support Services Ltd Declines
Total Kenya Ltd Top Gainer as Atlas Development and Support Services Ltd Declines Total Kenya Ltd (TOTL) was the top gainer of the day. It gained 9.22% to close at KES 18.95 which was a KES 1.60 gain in share price. Atlas Development and Support Services Ltd (ADSS) was the…
Standard Chartered Bank 2015 Q3 Results
Standard Chartered Bank’s profit for the 9 months ended September 2015, dropped by 24.30% to KES 6.23 billion compared to KES 8.22 billion reported in Q3 2014. Interest income rose by 0.91% to KES 16.63 billion compared to KES 16.48 billion reported in Q3 2014. Pretax profit dropped by 20.14%…
NIC Bank 2015 Q3 Results
NIC Bank’s 2015 profit for the 9 months ended September 2015, increased by 15.97% to KES 155.58 billion compared to KES 134.16 billion reported in Q3 2014. Interest Income increased by 19.70% to KES 12.09 billion compared to KES 10.10 billion reported in Q3 2014.
Eaagads Limited 2015 Half-year Results
Eaagads Limited profit for the 6 months ended September 2015 decreased by 20.57% to KES 9.53 million compared to KES 12 million reported in September 2014. Profitability was boosted by fair value gain on revaluation of biological assets of KES 13.09 million. Revenue rose by 6.48% to KES 44.73 million…
Imperial Bank owners and CBK feud over reopening delays
Imperial Bank owners and CBK feud over reopening delays Imperial Bank shareholders have blamed Central Bank of Kenya (CBK) over the delayed reopening of the closed bank, days after the regulator accused them of inaction. The owners also accused KDIC of failing to appoint a team…
Closing Bell: Home Afrika Ltd Top Gainer as Umeme Limited Declines
Home Afrika Ltd Top Gainer as Umeme Limited Declines Home Afrika Ltd (HAFR) was the top gainer of the day. It gained 7.69% to close at KES 1.40 which was a KES 0.10 gain in share price. Umeme Limited (UMME) was the top loser of the…
Diamond Trust Bank 2015 Q3 Results
Diamond Trust Bank’s profit for the 9 months ended September 2015 grew by 11.51% to KES 4.77 billion, up from KES 4.28 billion reported in September 2014. This was boosted by regional operations. Customer deposits grew by 17.96% to KES 175.10 billion, up from KES 148.44…
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