Uchumi
Just two days after closing the register to commence a rights issue, Uchumi issued profit warning indicating that profits will fall short of previously expected levels or losses will be larger than expected for their year which ended on June 30 2005.
Portland Cement
The nationwide housing & building construction boom combined with the availability of constituency development funds led to an after tax profit of 608 million at the East African Portland Cement. But turning a foreign currency loss of 638m 04 to a 200m shilling gain in 2005 is the main reason for shareholders to be happy for their Kshs 2.50 dividend.
Banks
Banks must publish their half-year results by August 31 and so far the top banks are as follows, with CBA, CFC, Imperial, Paramount, HFCK and Stanbic and Universal still waiting for the deadline.
Six-month results:
Bank (profit before tax in millions of shillings)
Barclays 2,103
Stanchart 1,618
KCB 859
Citibank 574
NBK 432
Coop 380
Equity 233
I&M 208
NIC 193
Baroda 163
Others
Mumias will announce their annual results tomorrow, after which will come results from East African Breweries and ICDCI
Expect excellent results from Mumias coz of higher international prices, higher local prices, exports to EU but me thinks that there was insider trading coz the price rise was sudden thus were some people in the know?
ICDCI should do well with increased stock prices BUT will they write off part of their Uchumi holdings?
EABL will have spectacular results based on their H1 results. Is the share overpriced?
EABL results are out. Check our http://www.eabl.com
Plug my blog…
I wonder whether Uchumi rights will be successful, what with the profit warning, the overpriced rights price of Kshs 10, government which owns 52% of Uchumi saying it wont take up its rights to significanly reduce its stake to around 20% and most of the suppliers refusing to exchange debt into equity during the rights issue?