Olympia announced 14 months worth of results. The results were a huge anticlimax for some of us who had even considered investing in this counter. PAT was up 10% compared to FY 2006 which is meagre considering the growth in turnover (tripled on a comparative basis). The other concern was that the wafer-thin margins seem not to have improved. A Ksh1.3bn turnover brings in Ksh70m of gross profit therefore the company must have very inefficient processes or may be acting as an importer/distributor. I suspect guys will continue flooding into the stock because of its SA link anticipating good tidings due to the world cup in 2010.
Centum on the other hand has had a very good 9 months given the underlying volatility at the NSE and should be on course to come in slightly higher than prior yr. Not a counter I've thought of buying into given it does something similar to what an individual investor does only on a bigger scale.
Williamson Tea (as is usual with agricultural stocks), this yr booked a loss of Ksh98m following profit in 2007 due to strong shillingi and depressed world tea prices (strange given all other commodities are up). This year might not be much better owing to drought in some of the tea-producing areas.