2 March 2012

Kenya: Kenolkobil Biggest NSE Loser Despite Big Profit

The NSE20 rallied a further 8.40 points to close at 3312.15. The Nairobi All Share firmed 0.30 points to close at 72.37. Market Cap increased to 923.574b from 919.758b last time. Equity Turnover was 268.12m versus 323.711m last time. The Shilling was last trading at 83.05.

In Commercial and Services

Safaricom firmed 1.64% to close at 3.10 and traded 4.173m shares worth 12.938m.

In Banks

KCB reported that its FY profit increased 54% to 15.1b shillings, the Bank has subsidiaries in four countries and all turned a profit. Earnings per share rose 34.78% to 3.72 shillings from 2.76 previously and increased the Dividend Pay Out 48%. KCB closed unchanged at 20.50 and traded 2.364m shares worth 48.939m.The Share Price has rallied 36.212% since December 1st 2011. Diamond Trust Bank Kenyan posted a 24 percent rise in full-year pretax profit and said it planned to offer a rights issue. The bank will offer 24.5 million new shares on the basis of one for every eight shares, whose price will be determined at a later date. DTB retreated 1.621% to close at 91.00 and traded 80,300 shares. Equity Bank fell 2.63% to close at 18.50 on heavy volume of 4.176m shares worth 77.304m. Equity Bank traded an 18.00-18.80 range. Typically, Equity Bank reports 1st and kicks off the bank FY reporting season. Nerves frayed some today, evidently. Barclays Bank firmed 0.7299% to close at 13.80 and traded 1.458m shares worth 20.125m and was trading at session highs of 14.00 +2.19% at the closing bell. CFC Stanbic firmed 25 cents to close at 42.25 and traded 28,300 shares. StanChart was high ticked 1.952% to close at 172.00 and traded 800 shares. COOP Bank firmed 5 cents to close at 11.80 and traded 437,800 shares. NIC eased 0.86% to close 28.75 and traded 528,500 shares. CFC Insurance followed through the previous days 11.81% rally with a further 5.6338% bounce to close at 7.50 and traded 156,100 shares. Transcentury fell 2.409% to close at 20.25 a fresh all time low.

In Industrial and Allied

BAT firmed 0.3076% to close at 326.00 on good volume of 139,500 shares and this is the 3rd consecutive session where BAT has closed at an all time closing high. Bamburi Cement rallied a further 6.206% to close at 154.00 and traded 6,500 shares.By Contrast, East African Portland Cement, warned it faces a full-year loss after reporting a first-half loss of 175.4 million shillings.Portland is suspended from Trading. ARM firmed 1.29% to close at 157.00 and traded 3,000 shares. KenolKobil fell 4.3103% to close at 11.10 and traded 856,600 shares. This was the day after it announced its FY PAT 2011 had increased +70.95%. Go Figure. The concerns are evidently around a cash call and the nature of it but essentially shareholders should be happy to double down given the excellent execution. Total Kenya eased 2.77% to close at 17.55 and traded 15,200 shares. KenGen eased 1.34% to close at 7.35 and traded 218,500 shares. KPLC fell 2.4305% to close at 14.05 and traded 101,300 shares.

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