NSE weekly catch up: Results season kicks off

If you were looking to buy to take advantage of capital growth induced by the results season which kicked off yesterday until end of March, then you may well have missed the bus on some shares:

Equity was up 22% from Monday and there was this intriguing foreigner sale which no Media house or broker seems to have commented on...
AK was up 12% and has a lot of momentum for the rest of the year in my opinion
EA Cables was up 11% and is another (together with Centum-up 10%) which I see having a solid year shareprice-wise
Unga with results already out and its 1 for 5 bonus issue closure day behind it (30/12), will probably slide slowly (down 7% since Monday).

AIM corner:
Any prospective shareholders of Limuru Tea? I forgot to mention that the Tea firm (which now belongs to Brooke Bond given Unilever had a 54% holding), is doing a 1 for 1 bonus share issue. For which the books closed on the 18th of Dec :-(
However, City Trust (minority shareholder of fast rising I&M bank), is also doing a 1 for 10 bonus share issue and this is still open.

AOB: Nice of Reuters to highlight what a miserable yr 2008 was for us NSE investors. Not sure though where BDA got its 3.3% rise for Equity in 2008 (opening price was Ksh150, closing was Ksh176).

Macro view: I still read press reports that peeps are not getting the cheaper Ugali, so who is? Hopefully, we'll get a decent finance minister this year though that will have to wait for the old man to wake up.

Limuru Tea, Unilever announce FY06 results

Limuru went with the trend for all tea companies with and saw PAT double from FY05 due to the drought in that year that affected the tea crop. To celebrate the turnaround-shareholders (Unilever is the majority shareholder) will get ksh10 per dividend, 2nd only to BAT for the FY06. Unilever saw a fall in PAT (profit after tax ) due to a high restructuring cost. Excluding this, the company saw PBT double for the year.

Standard Group, Limuru Tea company, Kenya Orchards

Standard Group is Kenya's (and therefore East Africa's) 2nd largest media group. Apart from succesfully diversifying its portfolio to include KTN, Standard also runs a publishing and distribution arm PDS. The company was upgraded to the MIMS on Tuesday the 14th of Feb, making its share a more marketable one. http://www.eastandard.net/hm_news/news.php?articleid=1143964838. Perfomance-wise, the FY06 saw profit before tax more than double due to higher revenue generation. Instead of offering dividend, Standard has offered shareholders a bonus share for every 8 held. The following article gives more informaion on the unaudited financials. http://www.nairobist.com/pblog/index.php?d=16&m=11&y=06. For this FY, the group can expect to benefit from increased newspaper circulation and TV audience due to the elections. It should also be able to generate higher advertising revenue from the same. As an investment, it will be in play until the bonus issue is announced, but will long-term continue to suffer in the shadow of the much larger and expansive Nation Media Group.

Kenya Orchards- Are manufacturers of those popular fruit jams such as mermalaide, strawberry et al as well as juices. Shares in this company have been suspended since May'06.

Limuru Tea-Is 54%-owned by Unilever Tea who act as its mafucturer and sales agent. Was affected by the drought in 2005 as were other Tea companies. Their detailed trading history shows a sharp decrease in shares traded to date which makes it a non suitable company for our consideration for investment.

Who owns what at the NSE

http://www.eastandard.net/archives/sunday/hm_news/news.php?articleid=18216. Although the article is talking about foreign ownership of NSE listed companies, I thought it useful for our records as it has a little bit of information on Sasini, Limuru Tea, Kapchorua Tea and Williamson Tea.