Browsing: Financial results

• KCB Group PLC has reported a 28.4 per cent rise in its net earnings to reach KSh 19.6 billion for the six months ending June 30, 2022
• KCB said the growth from KSh 15.3 billion was driven by improvement in both the funded and non-funded income streams
• Group businesses increased their profit contribution to 16.8 per cent, driven by new business growth and the impact of BPR Bank

KCB Group PLC has reported a net earning of KSh 19.6 billion for the six months ending June 30, 2022, to mark a 28.4 per cent rise from last year.

The growth from KSh 15.3 billion was driven by improvement in both the funded and non-funded income streams.

Additionally, the international subsidiaries increased their overall contribution to the Group’s performance.

Total operating income increased by 16.8 per cent, mainly driven by a 29.9 per cent growth in Non- Funded Income.

Group businesses …

• Kenya Airways (KQ) narrowed its half-year loss to KSh 9.88 billion, less than the KSh 11.48 billion loss it reported in the same period in 2021.
• Kenya Airways (KQ) has revealed that its total revenue rose to KSh 48,104 million in the six months ending June 2022, recording a 76 per cent increase compared to the same period last year
• KQ said the increase is mainly attributed to significant growth in passenger revenue, which grew by 109 per cent, and cargo revenue which increased by 18 per cent

Kenya Airways (KQ) narrowed its half-year loss to KSh 9.88 billion, less than the KSh 11.48 billion loss it reported in the same period in 2021.

During the review period, the airline revealed that its total revenue rose to KSh 48,104 million in the six months ending June 2022, recording a 76 per cent increase compared to the same period last year.…

• Stanbic Holdings Plc has announced a profit of KSh 4.8 billion for the half year ended 30 June 2022, representing a 37 per cent increase from last year’s performance
• The performance is attributable to strong business momentum, and judicious execution of its digital transformation strategy as the Group continues to support its customers in their growth journeys
• Stanbic Bank CEO Charles Mudiwa said the performance reflects resilience amidst a tough operating environment characterised by uncertainties around elections and risks posed by the Russia-Ukraine conflict

Stanbic Holdings Plc has announced a profit of KSh 4.8 billion for the half year ended 30 June 2022, representing a 37 per cent increase from last year’s performance.

According to the Kenyan lender, the performance is attributable to strong business momentum, and judicious execution of its digital transformation strategy as the Group continues to support its customers in their growth journeys.

Stanbic Bank CEO Charles …

• Kakuzi PLC has posted a 60 per cent rise in its pretax profit to reach KSh 494.7 million for the first six months of the year 
• The performance came against the firm’s strategic Avocado and Macadamia crops and steadily growing revenues from its market and product diversification efforts
• The complex international markets, an increasing cost base for many of the firm’s key inputs, and a worldwide consumer spend squeeze may affect the full-year results

Kakuzi PLC has posted a KSh 494.7 million pretax profit in its half-year results.

In a statement, the listed company said the performance was driven by increased sales, leading to a 60 per cent rise in its earnings.

The performance came against the firm’s strategic Avocado and Macadamia crops and steadily growing revenues from its market and product diversification efforts.

Kakuzi Managing Director Chris Flowers said the firm’s pretax profit has grown to KSh 494.7 million, …

• EABL has reported KSh 109.4 billion in net sales for the full year ended 30 June 2022, representing a 27 per cent growth compared to the same period last year
• The group attributed the performance to double-digit growth across all its markets and categories owing to an improved operating environment
• Kenya delivered 30 per cent net sales growth, mainly on the back of strong beer recovery and continued growth in spirits – fuelled by premium and upper mainstream segments

East African Breweries PLC (EABL) has reported KSh 109.4 billion in net sales for the full year ended 30 June 2022, representing a 27 per cent growth compared to the same period last year, as the business marks 100 years of operations in the region.

The group attributed the performance to double-digit growth across all its markets and categories owing to an improved operating environment as outlets reopened and sustained investment …

• KCB Group has reported a 54.6 per cent rise in net profit for the quarter ending in March 2022 to hit KSh 9.9 billion
• The rise from KSh 6.4 billion in a similar period last year was boosted by growth in total income and a reduction in loan loss provision
• The bank’s outgoing CEO Joshua Oigara said the business showed sustained resilience backed by its proactive approach toward driving income growth and managing liquidity

Kenya Commercial Bank (KCB Group) has reported a 54.6 per cent rise in net profit for the quarter ending in March 2022 to hit KSh 9.9 billion.

According to the company, the rise from KSh 6.4 billion in a similar period last year was boosted by growth in total income and a reduction in loan loss provision.

During the period, revenues increased by 26 per cent to KSh 29.0 billion on account of an increase in …

• ABSA Bank Kenya has a posted a 22 per cent rise in its profit after tax for the quarter ending in March 31, 2022 
• The bank attributed the performance to improving macroeconomic conditions compared to the same period last year
• The bank added that its investment in new businesses is bearing fruit with bancassurance, asset management and financial markets products contributing significantly to income growth 

Kenya’s Absa Bank has posted a 22 per cent rise in its Profit after Tax to hit KSh 3 billion for the quarter ending 31 March 2022.

In a statement seen by The Exchange Africa, the Kenyan lender said all its business units remained profitable, registering growth on crucial lines in the period.

During the period under review, total income grew by 12 per cent to KSh 9.9 billion, primarily driven by higher net interest income, which went up by 15 per cent year …

• Equity has recorded a 99 per cent rise of its net profit to reach KSh 40.1 billion from KSh 20.1 billion
• Net interest income grew by 25 per cent to KSh 68.8 billion, up from KSh 55.1 billion, driven by a 23 per cent growth in loan book to KSh 587.8 billion
• Equity Group CEO James Mwangi said the bank has now strategically positioned itself as a systemic regional diversified business in six countries

Equity Group has recorded superior performance for the year ended 31^st December 2021 despite the challenging operating environment of a global COVID-19 pandemic.

Profit After Tax increased by 99 per cent to KSh 40.1 billion from KSh 20.1 billion, with Profit Before Tax recording a growth of 134% to KSh 51.9 billion, up from KSh 22.2 billion the previous year.

The Group has recommended a record dividend pay-out of KSh 3 per share totalling KSh …

Regional bank Kenya Commercial Bank has doubled its profit after tax for the period ended June 2021.

In a statement, KCB says its profit reached Sh15.3 billion, up from Sh7.6 billion posted during a similar period last year.

During the period under review, revenues increased by 14 percent on account of higher interest income driven by an increase in earning assets and a lower cost of funding.

The Group’s total income increased by 13.7 percent to Sh51.2 billion during the period, with net interest income going up by 17.7 percent to Sh36.6 billion from Sh31.1 billion last year.

This was on the back of higher interest-earning assets and effective management of the cost of funding during the period.

The Group’s assets stood at Sh1.02 trillion, up from Sh953 billion reported in the first half of 2020.

Commenting on the performance, KCB Group CEO Joshua Oigara said the bank’s resilient and …