Browsing: WPP ScanGroup

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 …

East African Breweries Plc is seeking to raise KSh11Bn shortly after they retired their KSh6Bn Medium Term Note (MTN) on the 28th of June. (The early redemption was averred as part of their balance sheet and costs of funds optimization).

The five-year tenure – with an interest rate of 12.25 per cent p.a. – was in line with our projection of a near term corporate bond issue.

The rationale behind this was the contemporary high costs attached to the alternative sources of income against the backdrop of the pandemic impact on the macroeconomic environment.…

Interesting market developments encircled WPP ScanGroup in this review period. The counter’s share price has been on a rally albeit a sharp decline in its bottom line (-1,191.1% y/y) in the just-released FY20 results.

The uptick – that comes after a sequential diminution – is on the back of the exoneration of the suspended senior management that boosted investor confidence given the fact that there was no adverse effect on the counter’s financial performance, position and/or operations linked to the aforementioned. We opine that the rally will continue in the near term to 2Q21 levels as investors accumulate on the earlier exited positions.…