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Satchu's Rich Wrap-Up
 
 
Thursday 17th of March 2016
 
Morning
Africa

Register and its all Free.

If you are tracking the NSE Do it via RICHLIVE and use Mozilla Firefox
as your Browser.
0930-1500 KENYA TIME
Normal Board - The Whole shebang
Prompt Board Next day settlement
Expert Board All you need re an Individual stock.

The Latest Daily PodCast can be found here on the Front Page of the site
http://www.rich.co.ke

Was here this morning

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#GoKSymposiumDay1 moderator @alykhansatchu with C.S labour @Kandie_Phyllis and Foreign affairs P.S Monica Juma.
Africa


Looking forward to #Mindspeak this Saturday 19th March at the
@SankaraNairobi from 0930 am.

We will be hosting @stpaulsplc The Founder Richard Britten-Long and
Key Officers from the same

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Fed holds steady, eyes two rate hikes this year
Africa


The interest rate outlook is a shift from the four hikes expected when
the Fed raised rates in December for the first time in nearly a
decade. The majority of policymakers now said they expected it would
be appropriate to raise rates by about a half a percentage point by
the end of this year.

"Our first take on this is that it probably leans slightly more
dovish, relative to expectations," said Tom Porcelli, chief U.S.
economist at RBC Capital Markets in New York.

read more








Hillary Clinton Versus Donald Trump: The Battle Ahead
Law & Politics


On Tuesday, Trump won his sixteenth, seventeenth, eighteenth, and
nineteenth states. Ted Cruz has won seven. Rubio, who confirmed that
he was ending his candidacy, won a single state, Minnesota. Now Kasich
has a state in his column, too. In the coming weeks, as the race moves
to the East and West Coasts, Trump looks set to rack up more
victories. Eventually, the Republican Party will be confronted by a
question that David Axelrod, President Obama’s former campaign
manager, posed on CNN: “How do you deny someone who has come close to
twelve hundred thirty-seven, and won all over the country?”

He pointed out how far he had come since starting out last July, and,
interestingly, appeared to give the Islamic State of Iraq and al-Sham
much of the credit for his rise. The terrorist attacks in Paris
happened, he said, and his campaign “took on a whole new meaning.”
Americans were looking for security, “and all of a sudden the poll
numbers shot up.”

read more


Trump predicts riots if denied Republican presidential nomination: CNN interview
Law & Politics


Trump, in an interview with CNN, said if he got a large number of
delegates yet was denied the nomination: "I don't think you can say
that we don't get it automatically. I think you'd have riots. I think
you'd have riots. I'm representing many, many millions of people."

Measuring Donald Trump’s Mammoth Advantage in Free Media

http://www.nytimes.com/2016/03/16/upshot/measuring-donald-trumps-mammoth-advantage-in-free-media.html?_r=0

Mr. Trump earned $400 million worth of free media last month, about
what John McCain spent on his entire 2008 presidential campaign. Paul
Senatori, mediaQuant’s chief analytics officer, says that Mr. Trump
“has no weakness in any of the media segments” — in other words, he is
strong in every type of earned media, from television to Twitter.

Over the course of the campaign, he has earned close to $2 billion
worth of media attention, about twice the all-in price of the most
expensive presidential campaigns in history. It is also twice the
estimated $746 million that Hillary Clinton, the next best at earning
media, took in. Senator Bernie Sanders has earned more media than any
of the Republicans except Mr. Trump.

read more




The U.S. is heading toward a dangerous showdown with China WAPO
Law & Politics


The Obama administration is moving toward what could be a dangerous
showdown with China over the South China Sea.

The confrontation has been building for the past three years, as China
has constructed artificial islands off its southern coast and
installed missiles and radar in disputed waters, despite U.S.
warnings. It could come to a head this spring, when an arbitration
panel in The Hague is expected to rule that China is making
“excessive” claims about its maritime sovereignty.

What makes this dispute so explosive is that it pits an American
president who needs to affirm his credibility as a strong leader
against a risk-taking Chinese president who has shown disregard for
U.S. military power and who faces potent political enemies at home.

“This isn’t Pearl Harbor, but if people on all sides aren’t careful,
it could be ‘The Guns of August,’ ” says Kurt Campbell, former
assistant secretary of state for Asia, referring to the chain of
miscalculations that led to World War I. The administration, he says,
is facing “another red line moment where it has to figure out how to
carry through on past warnings.”

What troubles the White House is that President Obama thought he was
assured by President Xi Jinping in Washington in September that China
would act with restraint in the South China Sea. “China does not
intend to pursue militarization,” Xi said publicly in the Rose Garden.

read more


WORLD HAPPINESS REPORT 2016 | VOLUME I
Law & Politics


1. Denmark (7.526)
2. Switzerland (7.509)
3. Iceland (7.501)
4. Norway (7.498)
5. Finland (7.413)
6. Canada (7.404)
7. Netherlands (7.339)
8. New Zealand (7.334)
9. Australia (7.313)
10. Sweden (7.291)
11. Israel (7.267)
12. Austria (7.119)
13. United States (7.104)
16. Germany (6.994)
17. Brazil (6.952)
22. Singapore (6.739)
23. United Kingdom (6.725)
28. United Arab Emirates (6.573)
34. Saudi Arabia (6.379)
36. Qatar (6.375)
103. Nigeria (4.875)
106. Zambia (4.795)
116. South Africa (4.459)
120. Egypt (4.362)
122. Kenya (4.356)
124. Ghana (4.276)
125. Congo (Kinshasa) (4.272)
127. Congo (Brazzaville) (4.236)
128. Senegal (4.219)
131. Zimbabwe (4.193)
132. Malawi (4.156)
133. Sudan (4.139)
134. Gabon (4.121)
135. Mali (4.073)
136. Haiti (4.028)
137. Botswana (3.974)
138. Comoros (3.956)
139. Ivory Coast (3.916)
140. Cambodia (3.907)
141. Angola (3.866)
142. Niger (3.856)
143. South Sudan (3.832)
144. Chad (3.763)
145. Burkina Faso (3.739)
146. Uganda (3.739)
147. Yemen (3.724)
148. Madagascar (3.695)
149. Tanzania (3.666)
150. Liberia (3.622)
151. Guinea (3.607)
152. Rwanda (3.515)
153. Benin (3.484)
154. Afghanistan (3.360)
155. Togo (3.303)
156. Syria (3.069)
157. Burundi (2.905)

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Russia drops the mic: Syria pullout comes at perfect moment
Law & Politics


After five years of brutal fighting and two weeks of a scrappy
ceasefire, President Vladimir Putin has suddenly announced that “the
main part” of Russia’s forces currently in Syria will begin to be
withdrawn. Assuming this is not some public relations stunt (and if it
is, it will very quickly become clear, seriously damaging Moscow’s
credibility), then it represents a shrewd and pragmatic move.

They will not go quickly, and it is still unclear quite who will be
leaving and who will stay. The Tartus naval resupply station will
remain in Moscow’s hands — presumably with some security forces — and
so will the Hmeymime (Latakia) air base, implying that there will
still be some Russian bombers along with their flight and technical
crews, guards and commanders.

However, the creeping expansion of the ground forces contingent within
the expeditionary force — first some Spetsnaz special forces for
spotting, next some extra tanks, then heavy artillery — is presumably
going to be reversed. This way, not only does Russia make itself less
vulnerable to attacks from insurgents, it also sets aside the
temptation to get more deeply involved in the fighting.

Speaking to officers in Moscow in an off-the-record session, one of
their greatest concerns was of being swept up in a cycle of escalation
if a serious attack was carried out against Russian forces by any of
the many rebel groups. As one put it, “if the president sees this as a
challenge, he’ll be tempted to send a brigade of paratroopers, and
before you know it, we’re there for 10 years.”

This was not a casually chosen timeframe: 10 years is how long Soviet
troops were mired in Afghanistan, another intervention that was
expected to be short-lived and uncomplicated and turned out to be
anything but.

Politicians tend to find it easier to start wars than to end them, to
escalate rather than to withdraw. For a leader who clearly relishes
his macho image and who has been articulating a very aggressive
foreign policy in recent years to opt for such a stand-down is a
striking act of statesmanship.

That said, Putin’s announcement that “the objectives given to the
Defense Ministry and the Armed Forces as a whole have largely been
accomplished” is probably accurate.

This intervention was, after all, never about “winning” the war in
Syria: even the most starry-eyed optimist would not expect a relative
handful of aircraft and ground forces to end this bloody and complex
conflict. Nor was it primarily to save Bashar al-Assad’s skin and
position.

Rather, it had three main objectives. Firstly, to assert Russia’s role
in the region and its claim to a say in the future of Syria. Secondly,
to protect Moscow’s last client in the Middle East, ideally by
preserving Assad, but if need be by replacing him with some other
suitable client. Thirdly, to force the West, and primarily Washington,
to stop efforts diplomatically to isolate Moscow. For the moment, at
least, all three have indeed been accomplished.

Now, Russia is a more significant player in Syria’s future than the
United States. Influence is bought by blood and treasure; by being
willing to put its bombers, guns and men into play, Moscow not only
helped Assad but reshaped the narrative of the war. The Kurds and even
some of the so-called “moderate rebels” are beginning to show willing
to talk to the Russians.

At the time of the intervention, Assad’s forces were in retreat,
momentum was favoring the rebels, and Moscow was terrified that the
regime’s elite might begin to fragment. The client state the Soviets
left behind when they withdrew from Afghanistan was actually
surprisingly stable and effective. But when Defense Minister Shahnawaz
Tani broke with President Najibullah, it began to break apart and was
doomed; this was something Moscow feared could happen in Damascus.

However, the unexpected injection of Russian airpower on Sept. 30 not
only changed the arithmetic on the battlefield, it also re-energized
the regime. The scale of the bombing assault, with more than 9,000
sorties flown according Defense Minister Sergei Shoigu, allowed
government forces to turn back the tide. Not only were they able to
retake Aleppo and some 400 other settlements by Shoigu’s count, but
the Syrian Arab Army’s morale recovered considerably too, and with it
Assad’s personal authority.

Finally, on the diplomatic front there is no question that Putin’s
intervention did indeed end any hope of ignoring and isolating him.
Russia and the United States are joint guarantors of the ceasefire in
Syria now, and even in Ukraine the two countries have renewed
conversations about a settlement in the Donbas, though it was Moscow
that began the conflict.

In short, for once there is more truth than rhetoric in claims of a
“mission accomplished.” By beginning to withdraw his forces, Putin
also addresses three important concerns.

He will reassure a domestic audience that enjoyed the daily doses of
gun-camera footage and upbeat military assessments, but remained
worried that what started as a relatively bloodless — for the Russians
— campaign could become something much more serious. Indeed, the
military will also be happy, conscious as they are that the longer
forces are in-country, the greater the risk of something going badly
wrong. That’s not least because many of Russia’s senior officers
served in Afghanistan.

He can present himself as a peacemaker; it is hardly a coincidence
that this announcement was made on the first day of real negotiations
in peace talks being held in Geneva. This will strengthen Russia’s
claim to a role in those negotiations and the shaping of Syria’s
future: a spokesman for the rebel High Negotiations Committee said
that “if there is seriousness in implementing the withdrawal, it will
give the talks a positive push.” It may also offset some of the ground
lost internationally after a recent escalation of fighting in the
Donbas and the show trial of kidnapped Ukrainian pilot Nadiya
Savchenko.

Finally, Putin can retain the initiative, something he clearly savors.
He has once again caught the West off guard (and probably also Assad
for that matter: he seems to have been informed by Putin only earlier
in the day).

He has reduced his exposure to reverses on the ground, but not
abandoned Syria. Rather, he has the best of both worlds. He will
retain not just some troops there but the ports and airfields which
will allow him to surge forces back into Syria if need be — or simply
just threaten to do so. He can also, as he has in the past, use
long-range bomber strikes or cruise missiles fired from naval units to
deliver devastating reminders of Russia’s military capabilities.

In short, this is at once classic, and yet also unusual Putin. It is a
characteristic move in its decisiveness and its unexpectedness (even
Russians within the defense and foreign affairs apparatuses appear to
have been taken by surprise).

But Putin, especially in this presidential term, has up until now
tended to default to escalation, confrontation and defiance. Even
though it is for entirely pragmatic reasons, this is the first time he
has stepped back from an adventure. It may prove to be a propaganda
move, or short-lived. It may be precisely that he wants to concentrate
on his vicious war in the Donbas. Or it may be that, his economy
suffering, his elite worried and his people increasingly discontent,
that this is the first sign of the emergence of a more pragmatic
Putin, who has come to realize that his grand vision for a
re-empowered Russia is actually driving it towards penury and chaos.
Time will tell.

read more


Currency Markets at a Glance WSJ
World Currencies


Euro 1.1281
Dollar Index 95.69
Japan Yen 111.70
Swiss Franc 0.9776
Pound 1.4298
Aussie 0.7591
India Rupee 66.865
South Korea Won 1173.82
Brazil Real 3.7412
Egypt Pound 8.8791
South Africa Rand 15.5512

read more











Mozambique currency sinks as "tuna bond" triggers downgrades
Africa


Mozambique's metical currency slid 6 percent on Wednesday after
Moody's and S&P issued ratings downgrades amid mounting concerns about
a proposed debt restructuring for a troubled $850 million bond issued
by state-run tuna-fishing company Ematum.

S&P lowered Mozambique's sovereign credit rating from B- to CC, which
is "extremely speculative" and just one notch above potential default
status.

Mozambique is set to publish more details on Thursday of its exchange
offer for the bond, issued in 2013, including coupon and pricing.

S&P lowered Mozambique's sovereign credit rating from B- to CC, which
is "extremely speculative" and just one notch above potential default
status.

Mozambique is set to publish more details on Thursday of its exchange
offer for the bond, issued in 2013, including coupon and pricing.

Conclusions


The @Africarising Conference seems from another Era.

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Mozambique Metical versus the Dollar
Africa


Mozambique’s current account gap, the broadest measure of trade in
goods and services, is forecast at 45.3 percent of gross domestic
product this year, the highest in the world after Libya and Tuvalu,
according to International Monetary Fund data.

read more



Afrobarometer How many Africans are connected to an electric grid? Do those connections actually work?
Africa


Almost 10,000 refugees from Mozambique have fled into Malawi amid
renewed violence between government and opposition Renamo forces in
recent months, the United Nations said Tuesday.

https://in.news.yahoo.com/refugees-pour-malawi-fleeing-mozambique-142921259.html

read more


It's Jacob Zuma's country, the rest of us just live here @ TonyLeonSA
Africa


On November 13 1990, the former deputy prime minister of Great
Britain, Geoffrey Howe, rocked the House of Commons in his quiet,
measured and, this time, deadly way.

He fired a rhetorical missile that destroyed the leadership of his
party boss and three-term British Prime Minister Margaret Thatcher.
Nine days later her party bundled her out of office.

Not a bad accomplishment for a long-time Thatcher ally whose soporific
speaking style had given him the cruel nickname of "Mogadon Man"
(Mogadon is a sleeping pill).

Explaining why he was resigning from a government in which he had held
the great ministerial offices, Howe characterised Thatcher's
white-anting of her ministers' negotiations in Europe with a
cricketing metaphor.

"It is rather like sending your opening batsmen to the crease," Howe
told a hushed parliament, "only for them to find, as the first balls
are being bowled, that their bats have been broken before the game by
the team captain."

South Africa has no record at all of any minister ever resigning on a
point of principle. So the concept of a "resignation speech" remains
alien to our political culture. More's the pity.

But one minister we absolutely do not need to resign right now or in
the foreseeable future is Finance Minister Pravin Gordhan. We must
hope like hell that he clings to office, despite the forces trying to
remove or discredit him with far more vehemence and energy than
anything the long-suffering Geoffrey Howe spoke about nearly 30 years
ago.

But it must be easy for Gordhan and the other Team SA members who
journeyed across the financial markets of the UK and US to save our
credit rating, to fully identify with the concept of a team captain
breaking their bats before sending them out to score.

Instead of Jacob Zuma and his inner cabal backing the finance minister
to the hilt, he is undermined at every turn.

The weekend revelations in the Sunday Times of the infamous Guptas of
Saxonwold shopping around for a new finance minister, might never be
fully explained.

The term in vogue is "state capture" — but that's a little ambiguous.
After all, who has captured what for whom?

I rather think the extraordinary and dangerous goings-on here are best
expressed in a phrase used to describe how the ruling Dos Santos
family in nearby Angola consolidates both political and economic power
under one roof.

Ricardo Soares de Oliveira, an Angola expert at Oxford University
penned the phrase "The Privatisation of Power". By this he means a
model that fuses personal power and state interests in the hands of a
small ruling class that brooks no dissent.

Finally, there was the fatal and final remark in the famous
resignation speech of Geoffrey Howe. He concluded it: "The time has
come for others to consider their own response to the tragic conflict
of loyalties, with which I have wrestled for perhaps too long."

So, as between the loyalty of the ruling party to its leader and his
family interests, and their loyalty to the movement and the country,
which is it going to be? Both are no longer an option.

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Gordhan's Job Seen at Risk in Spat With South African Police
Africa


Expecting ANC to act against Zupta ‘like expecting a pig to eat a
pudding’: Malema

pic.twitter.com/sjXwNlEYiT

“We need to deal with this; it will degenerate into a mafia state if
this goes on,” ANC Secretary-General Gwede Mantashe said Thursday by
phone.

http://www.bloomberg.com/news/articles/2016-03-17/zuma-in-battle-to-save-presidency-as-anc-warns-of-mafia-state

14-DEC-2015 The markets are not interested in Zuma’s explanations,
they are seeing a South African president who has gone rogue.

http://www.rich.co.ke/media/docs/038NSX1412.pdf

South Africa All Share Bloomberg +3.93% 2016 [16 week Highs]

http://www.bloomberg.com/quote/JALSH:IND

Dollar versus Rand 6 Month Chart INO 15.5512

http://quotes.ino.com/charting/index.html?s=FOREX_USDZAR&v=d6&t=c&a=50&w=1

Jacob Zuma Photographer: Siya Duda/Xinhua News Agency via Getty Images

http://www.bloomberg.com/news/articles/2016-03-17/zuma-in-battle-to-save-presidency-as-anc-warns-of-mafia-state

Egypt Pound versus The Dollar 3 Month Chart INO

http://quotes.ino.com/charting/index.html?s=FOREX_USDEGP&v=d3&t=c&a=50&w=1

Egypt EGX30 Bloomberg +3.18% 2016 [+18.02% in March]

http://www.bloomberg.com/quote/CASE:IND

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AFP/File / by Aderogba Obisesan | The Holy Cross Cathedral in Lagos was designed by African slave artisans from Brazil
Africa


She talks about her great-grandfather Joao Esan da Rocha, from Osun
state in southwest Nigeria, who was captured by slave traders in the
1850s, taken to South America and later freed.

"Frejon" -- a coconut bean soup popular in Nigeria and Brazil and
eaten in the week before the Christian holiday of Easter -- is also a
favourite topic.

"I don't wait until Good Friday to eat 'frejon'," she said. "I cook
and eat it throughout the year."

But such Brazilian influences on daily life in Nigeria's financial
capital are rapidly becoming hard to find.

read more



Olam Bets on Africa Reward as On-The-Go Food Demand to Climb
Africa


Olam International Ltd., one of the world’s largest food traders, is
hunting for more investments in Africa as it looks to benefit from the
continent’s increasing appetite for everything from instant noodles to
lollipops.

Long endowed with rich agricultural resources including coffee and
cocoa, Africa has a growing middle class that is now demanding more
packaged food, according to Chief Executive Officer Sunny Verghese.
That’s presenting increased opportunities for investment in branded
foods as well as raw materials such as rubber, cotton and lumber,
outweighing threats from political unrest to terrorism, he said.

One of Olam’s key bets in the continent is on branded food, driven by
Verghese’s prediction that Africa’s working-age population will
overtake China’s in 20 years.

Already established in 24 countries in sub-Saharan Africa, the
agribusiness giant controlled by Singapore’s state investment company
is looking to expand its market share across the continent. Olam’s
sales from Africa climbed to S$4.13 billion ($3 billion) in 2014 from
S$1.7 billion in 2010. Its packaged food operations in Nigeria, Ghana
and South Africa, now have sales of $350 million to $400 million a
year from nothing in 2005, when they were started.

The company wants to increase its integration along the production
chain from seed to consumer, according to Verghese. For example, Olam
plans to source the oil and flour in its Tasty Tom brand cooking oil
and pasta from oil palm crops it grows and wheat mills it purchased.

“Africa in some of these markets is at the cusp of convenience foods,”
Verghese said. The rising number of dual-income families where both
the husband and wife work is transforming food habits, he said.
“Convenience foods for on-the-go consumption is increasing. Noodles
and pasta are two very good categories where we’ve seen very high
growth.”

read more


Taking back the seas: prospects for Africa's blue economy ISS
Africa


international shipping is driven by fierce competition. The history of
maritime trade within Africa’s coastal waters has been characterised
by foreign exploitation since the early colonial era. Today, the
African union (Au), through its 2050 Africa’s integrated Maritime
strategy, plans to implement new cabotage laws to finally liberate the
continent’s maritime transport industry from foreign dominance.
however, certain barriers must first be overcome, including increasing
the capacity and efficiency of Africa’s maritime industry. This paper
evaluates the Au’s proposed introduction of pro-African cabotage laws
focusing on their economic potential and regulatory implications. it
also highlights core challenges posed by Africa’s struggle for greater
economic liberation of its coastal waters.

read more


Kenya aims to cut 50 bln shillings from net 2015/16 spending
Kenyan Economy


Kenya's Treasury has sent parliament supplementary spending plans for
the fiscal year ending in June that introduce net cuts of about 50
billion shillings ($493 million), the finance minister told Reuters on
Thursday.

The government had forecast a budget deficit of 8.7 percent of gross
domestic product for 2015/16, which unnerved investors. Draft figures
released in February showed a revised 2015/16 deficit of 8.1 percent,
falling to 6.9 percent in 2016/17. [nL8N15G1VC]

Finance Minister Henry Rotich said in a short telephone interview that
the supplementary figures sent to parliament had increased spending in
some areas, such as security, but these were outweighed by cuts
elsewhere.

"We are increasing spending in some areas and cutting in others but,
overall, cuts are more than increases, so we have a net cut of around
50 billion (shillings)," he said.

read more


COOP Bank reports FY PAT 2015 +46.046% Earnings here
Kenyan Economy


Par Value:                  1/-
Closing Price:           21.00
Total Shares Issued:          4889316295.00
Market Capitalization:        102,675,642,195
EPS:             2.31
PE:                9.0909

FY Loans and advances to customers 208.571920b vs. 179.486355b +16.205%
FY Customer deposits 265.398587b vs. 217.698323b +21.911%
FY Loans and advances income 30.039822b vs. 24.713355b +21.553%
FY Total interest income 36.791204b vs. 29.352011b +25.345%
FY Customer deposit expense [12.183736b] vs. [5.957719b] +104.503%
FY Net interest income/ [loss] 23.204293b vs. 21.275858b +9.064%
FY Other fees & commission 7.162155b vs. 6.565180b +9.093%
FY Total operating income 36.389778b vs. 32.085762b +13.414%
FY Loan loss provision [2.019295b] vs. [1.175598b] +71.767%
FY Staff costs [8.925220b] vs. [8.438158b] +5.772%
FY Other operating expenses [6.543423b] vs. [6.722174b] -2.659%
FY Profit before tax 15.38302b vs 10.916210b +40.920%
FY Profit after tax and exceptional items 11.705558b vs. 8.014997b +46.046%
FY Gains/[losses] from translating the financial statements of foreign
operations [979.654m] vs 30.384m -3,324.243%
EPS 2.31 vs. 1.69 +36.686%
Dividend per share 0.80 vs. 0.50 +60.000%
Liquidity ratio 37.1% vs. 35.3% +1.800%
Total NPL 7.130565b vs. 7.669784b -7.030%

Conclusions


Strong Numbers. Navigated South Sudan apparently. +60% Dividend Hike
will go down well

read more


Kakuzi reports FY PAT 2015 +229.382% Earnings here
Kenyan Economy


Par Value:                  5/-
Closing Price:           301.00
Total Shares Issued:          19600000.00
Market Capitalization:        5,899,600,000
EPS:            26.92
PE:               11.18

FY Sales 2.481844b vs. 1.689917b +46.862%
FY Gains arising from changes in fair value less costs to sell of
biological assets 114.262m vs. 79.313m +44.065%
FY Cost of sales [1.260464b] vs. [1.132563b] +11.293%
FY Gross profit 1.335642b vs. 0.636667b +109.787%
FY Distribution costs [655.224m] vs. [487.376m] +34.439%
FY Operating profit 677.182m vs. 155.693m +334.947%
FY Finance income 88.502m vs. 84.791m +4.377%
FY Finance cost [1.239m] vs. [7.685m] -83.878%
FY Profit before income tax 764.445m vs. 232.799m +228.371%
FY Profit for the year 527.687m vs. 160.205m +229.382%
EPS 26.92 vs. 8.17 +229.498%
Cash and cash equivalents at the end of the year 1.175434b vs.
0.973690b +20.720%
Dividends per stock unit 5.00 vs. 3.75 +33.333%

Company Commentary


The improved profit is considered satisfactory and was driven to some
extent by the weather conditions as well as favourable market demand
for our main export products. Avocado was dominant in returns but Tea
and forestry made useful contribution to profits. The weakening Kenya
Shilling also worked in our favour as well.
We now have 449 hectares planted to avocado
Dividend 5/= a share

Conclusions


Really muscular.
Avocados, higher Tea Prices and a weaker Shilling boosted earnings big.

read more








 
 
N.S.E Today


The Federal Reserve left interest rates unchanged in the US overnight
and lowered their Outlook for Interest rate Hikes in 2016 from 4 hikes
of a 1/4 point to just 2 hikes of a  1/4 point.
This translated into a Sell-Off of the Dollar and a sharp rally in
most currencies versus the Dollar over the last few hours.
The Yen has surged to 111.31 versus the Dollar, the Euro has crossed
1.13 and higher beta currencies [Ex Brazil and South Africa - where
political challenges are ratcheting higher to excruciating levels] all
surged.
How long this surge will hold is another question entirely and Not
very long in my opinion.
Here in Kenya, the Treasury has sent parliament supplementary spending
plans for the fiscal year ending in June that introduce net cuts of
about 50 billion shillings ($493 million), the finance minister told
Reuters on Thursday.
"We are increasing spending in some areas and cutting in others but,
overall, cuts are more than increases, so we have a net cut of around
50 billion (shillings)," he said.
This is a prudent move and will be appreciated by the Markets.
The Shilling was trading at 101.42 a 6 month High.
The Nairobi All Share rose 0.37 points to close at 145.72
The Nairobi NSE20 firmed 2.4 points to close at 3927.65.
Equity Turnover was better than solid at 905.122m.



N.S.E Equities - Agricultural


Kakuzi reported a Full Year Profit after Tax surge of +229.382%, FY
Sales ramped  +46.862% higher, FY Profit for the year surged +229.382%
to 527.687m  Cash and cash equivalents at the end of the year clocked
1.175434b vs. 0.973690b +20.720%,  and the FY Dividend was hiked
+33.333%. The Company Commentary spoke to

''The improved profit is considered satisfactory and was driven to
some extent by the weather conditions as well as favourable market
demand for our main export products. Avocado was dominant in returns
but Tea and forestry made useful contribution to profits. The
weakening Kenya Shilling also worked in our favour as well.''

These were muscular Earnings plain and simple. Kakuzi rallied +4.98%
to close at 316.00 in what was a proper response to the Earnings,



N.S.E Equities - Commercial & Services


Safaricom rallied +0.61% to close at 16.50 and traded strong heavy
duty volume of 21.864m shares worth 357.689m.

Nation Media closed unchanged at 180.00 on the occasion of H.H. The
Aga Khan commissioning a new Printing Press.



N.S.E Equities - Finance & Investment


COOP Bank reported FY 2015 Earnings where Full Year Profit after Tax
ramped +46.046% higher to clock 11.705558b, Loans and Advances
advanced +16.205% to 208.571b and the Bank lifted its Full Year
Dividend Pay out and eye-popping +60%. COOP Bank apparently also
effectively navigated South Sudan. COOP Bank which had rallied +16.66%
in 2016 through this morning, COOP Bank closed unchanged at 21.00 but
was trading at 22.00 +4.76% at the Finish Line.

National Bank of Kenya eased back -0.33% to close at 14.95 and traded
shares as low as 14.55 -3.00% during the session.



N.S.E Equities - Industrial & Allied


KenolKobil rallied +1.85% to close at a Fresh 2016 High of 11.00 and
traded 993,900 shares. KenolKobil is +14.5833% Year To Date and has
been a Stand-Out this year.

EABL closed unchanged at 283.00 and on strong volume of 492,600 shares.

Crown Berger was high ticked +9.73% to close at 62.00.



by Aly Khan Satchu (www.rich.co.ke)
 
 
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March 2016
 
 
 
 
 
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