The last two weeks have been relatively hectic as the bourse received news, releases and information left right and centre despite having hosted two holidays. ICDC unveiled plans for a 10 to 1 shares split barely 2 months after the dust on E.A. cables split settled. The company had just released their year end results reflecting an 86% appreciation in pre tax profits to Kshs. 696mn up from the previous years Kshs. 373 m. Performance was largely buoyed by the bull run on the bourse. The company's share price has since shot to a high of Kshs. 560.
E.A. Cables also released their results for the 9 months ended 30th September 2006 which reflected a 96% appreciation in profits to kshs. 344 mn. up from Kshs. 175 mn. realized over a similar period over the previous year. Directors attributed this growth to a boom in the construction industry and the company’s expansion to regional markets.
Carbacid Investments realized a Kshs. 126mn profit, 11.5% above the previous year’s Khs. 113 mn. This however could not be captured on the company’s share price as the company is still suspended on the bourse following the unresolved BOC accusation negotiations.
Mumias Sugar which currently has a concentration in the western Kenya sugar belt is set on further expansion through the establishment of a factory in Tana River district bound to increase the total sugar output by 210,000 tonnes.
E.A. Cables also released their results for the 9 months ended 30th September 2006 which reflected a 96% appreciation in profits to kshs. 344 mn. up from Kshs. 175 mn. realized over a similar period over the previous year. Directors attributed this growth to a boom in the construction industry and the company’s expansion to regional markets.
Carbacid Investments realized a Kshs. 126mn profit, 11.5% above the previous year’s Khs. 113 mn. This however could not be captured on the company’s share price as the company is still suspended on the bourse following the unresolved BOC accusation negotiations.
Mumias Sugar which currently has a concentration in the western Kenya sugar belt is set on further expansion through the establishment of a factory in Tana River district bound to increase the total sugar output by 210,000 tonnes.
Family Finance Building Society uncovered its plan to sell its shares to the public through a private placement. The directors plan to convert the building society to a fully fledged commercial bank by the end of the year, and have further plans of having the company publicly listed on therr bourse.
MARKET REVIEW
ICDC Investments, currently trading cs/cd, continued its downward spiral, down Kshs. 46 to close at Kshs. 453 while Barclays Bank shot up Kshs 38 to close at Kshs. 427. TPS EA was up Kshs. 5.00 to close at Kshs. 89.50 while Sasini Tea has maintained a gradual appreciation to hit a new 12 month high of Kshs. 67.50, Kshs. 4.00 above Monday’s Kshs. 64.50 close. Nation Media and Equity Bank were also both up Kshs. 4.00 to close at Kshs. 234 and 130 respectively.
Other counters on the loosing side included Kenya Power which shed Kshs. 9.00 to close at Kshs 241, Pan Africa Insurance which was down Kshs. 5 to close at Kshs. 81 and E.A. Cables which slid down Kshs. 3.50 to close at Kshs. 62.
4 comments:
The inside info is worrying and has become self-fulfling propheies.
A share shoots up in price about 5X in a period of a few months, followed by good year-end results (not really spectacular) and then the directors announce that they have decided on a share split.
First EA Cables, now ICDCI, next...
next..... barclays bank????? am not implying anything but i tell you the smell of insider trading is getting stronger and stonger by the day!!!!
But barclays already has some 200 million shares issued. A 10:1 split seems unlikely, but a 2:1 is feasible in the near term.
Word on the street also says KPLC will be next. I wonder who's the insider, but can't let such info pass me by without taking action...
mwasjd, just be careful coz while some of these romours may turn out to be true, some could you you seriously burnt like the "BAT split" romour which left a number scalding.
Post a Comment