Jackson Okoth

2 months ago | kenyanwallstreet.com | Jackson Okoth

SACCOs (Savings and Credit Cooperative Societies) that stashed huge sums of cash as deposits in the financially-crippled central finance facility at the Kenya Union of Savings Credit Cooperative Union (KUSCCO) are now making write-off provisions. This follows a directive from the Sacco Societies Regulatory Authority (SASRA) for SACCOs that are financially exposed to KUSCCO’s financial instruments make provisions in their accounts.

May 2, 2024 | kenyanwallstreet.com | Jackson Okoth

Car & General Kenya Plc, a listed dealer in power generation, automotive, construction and industrial engineering products in East Africa, has posted a net loss of KSh 274 million in 2023, a performance the firm attributes to forex losses, demurrage, and storage costs as indicated in its profit warning. Despite this performance, the company delivered a 12% year-on-year growth in turnover, the highest growth area being Tanzania at 36%.

May 2, 2024 | kenyanwallstreet.com | Jackson Okoth

BOC Kenya Plc recorded a net profit of KSh 198.1 million for the year ended 31st December 2023 compared to net earnings of KSh 147.9 million in 2022, an increase of 33.9%. BOC Kenya’s balance sheet size grew from KSh 1.95 billion in 2022 to KSh 2.16 billion in 2023. The firm’s Pre-Tax Profit increased from KSh 213.4 million in 2022 to KSh 309.1 million in 2023. Earnings per Share, which measures a firm’s profitability increased from KSh 7.58 in 2022 to KSh 10.14 in 2023.

May 2, 2024 | kenyanwallstreet.com | Jackson Okoth

Crown Paints Kenya Plc, a listed paints and coats manufacturer, slid into a net loss of KSh 29 million in 2023 from a net profit of KSh 824 million in 2022. Crown Paints turnover for the year grew to KSh 12.5 billion from KSh 11.4 billion in 2022 while comprehensive income declined from KSh 829 million in 2022 to KSh 19 million in 2023. The Group’s Pre-Tax Profit fell to KSh 14 million from KSh 1.1 billion for the year ended 31 December 2022.

May 1, 2024 | kenyanwallstreet.com | Jackson Okoth

East African Cables Plc, which has subsidiaries in Uganda, Tanzania, Rwanda, Burundi, South Sudan, and the Democratic Republic of Congo, registered a net loss of KSh 301.9 million at the end of the 2023 financial year compared to a loss of KSh 345.3 million in 2022. Gross profit declined to KSh 670.3 million in 2023 from KSh 686.8 million in 2022 while pre-tax loss rose to KSh 454.9 million in 2023 from a loss of KSh 319.9 million in 2022.