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WPP ScanGroup Posts US$ 393,648 Half Year Loss www.theexchange.africa

WPP ScanGroup Posts US$ 393,648 Half Year Loss

Industry and Trade

WPP ScanGroup, a marketing and communications company, has reported a loss of 47.1 million shillings (US$393,648.14 ) for the half year that ended in June 2022.

  • WPP ScanGroup has reported a loss of 47.1 million shillings (US$393,648.14 ) for the half year that ended in June 2022
  • This is a significant drop from the 31.4 million shillings (US$262,432.09) profit that the company reported for the same period in 2021
  • The poor performance may be attributed to a drop in net revenues of 6.1 per cent year over year
  • The company stated that “the bottom-line was pulled by an 11.0 per cent jump in tax charge to Sh56.7million (US$468,045.75),” which contributed to the negative results

This is a significant drop from the 31.4 million shillings (US$262,432.09) profit that the company reported for the same period in 2021.

The poor performance may be attributed to a drop in net revenues of 6.1 …

Nairobi Security Exchange’s top share index-NSE 20 shed some 43.09 points or 1.67 per cent to stand at 2543.59 on Friday, even as volumes rose from the previous trading. The index that tracks blue chip companies at the bourse has been on a downward streak in recent weeks, affecting other indices. NSE market turnover for Friday however stood at Ksh332 million (US$3.2 million) from the previous session’s Ksh179 million (US$1.7 million) as the number of shares traded rose to 12.5 million against 9.9 million posted the previous day. Safaricom was the week’s biggest mover.

NSE opens week with low share volumes

NSE

NSE 20 share Index which tracks top listed companies at the bourse was down 16.21 points

Trading at the Nairobi Securities Exchange (NSE) opened the week with low activities as shares traded close Monday at a total of 10 million, valued at Ksh302.5 million (USD 2.9 million).

This was down compared to 19.8 million shares valued at Ksh560 million (USD5.5 million) posted on Friday before the market took a break for the weekend.

On Monday, the NSE 20 share Index, which tracks blue chip companies was down 16.21 points to stand at 2783.01. All Share Index (NASI) shed 2.40 points to settle at 157.79 while the NSE 25 Share index dropped 52.07 points to settle at 3886.48.

Banking

The banking Sector had shares worth Ksh148 million transacted which accounted for 49.16 per cent of the day’s traded value. Equity Group Holdings was the day’s biggest mover with 1.9 million shares …