Earnings Broadcast

Investors expecting 10% growth left disappointed as Equity Bank Kenya posts flat Earnings

NAIROBI, Kenya, Capital Markets in Africa — Equity Group Holdings Limited., the owner of Kenya’s biggest lender by market value, posted flat earnings that disappointed investors who had expected growth of more than 10 percent, as weaker currencies weighed on its regional operations. Net income grew 0.6 percent to 17.3 billion shillings ($170.4 million) in the 12 months through December from 17.2 billion shillings a year earlier, Chief Executive Officer James Mwangi told an investor briefing Tuesday…

Guinness Nigeria Plc announces 22bn net sales for first quarter of financial year

Posted on by The Editorial Team

Lagos, 22 October 2015 – Guinness Nigeria Plc, Nigeria’s leading beverage manufacturer and a subsidiary of Diageo Plc, has announced its financial results for the first quarter ended 30 September 2015. The results showed a 3% increase in revenue year on year. Commenting on the results, Mr. Peter Ndegwa, the company’s Managing Director/Chief Executive Officer, stated: “In the period under review, sales continued to grow despite a challenging trading environment, being 3% ahead of the…

CDC-backed businesses in Africa and Asia create nearly 1.3 million new jobs

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LONDON, United-Kingdom (Capital Markets in Africa) — CDC Group plc, the UK’s government-owned development finance institution, has today announced its 2014 annual results. The organisation, which invests to support the growth of businesses and create jobs in developing countries in Africa and South Asia, made 19 new investment commitments totalling £296.5m and reported a total return after tax of £420.2m (2013: £117.3m). New analysis also showed that CDC-backed businesses contributed to the creation of nearly 1.3…

South Africa’s Standard Bank H1 profit rises 27 percent

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JOHANNESBURG, South Africa (Capital Markets in Africa) – Africa’s biggest lender by assets, Standard Bank, on Friday released our interim results for 2015. The Bank delivered solid growth in Africa during the first half of the year despite economic challenges facing sub-Saharan Africa. The Standard Bank Group headline earnings increased by 27% to R10 529 million and headline earnings per share (HEPS) increased by 27% to 651 cents. Results highlights for the six months to 30 June 2015:…

Audi Bank earns $202m in Half-year

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Cairo, Egypt (Capital Markets in Africa) — Audi Bank posted a 7% rise in its consolidated net earnings for the six-month period ended 30 June 2015. H1 earnings reached $202 million (EGP 1.6 billion), the lender said in a press statement. Customer deposits totalled nearly $36.1 billion, and total loans reached approx. $17 billion. In addition, shareholders’ equity reached nearly $3 billion.

Egypt: Americana Egypt posts 47% drop in Half-year profits

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Cairo, Egypt (Capital Markets in Africa) — Egyptian Co. for International Tourism Projects (Americana Group-Egypt) reported a 47% drop in its consolidated earnings for the six-month period ended 30 June 2015. The earnings reached EGP 65 million ($8.3 million), compared with EGP 122.8 million ($15.7 million) in the year-ago period. H1 sales amounted to EGP 1.24 billion, compared with EGP 1.03 billion in the year-ago period. The standalone net earnings reached EGP 66.71 million, compared…

Zenith Bank Gross Earnings up 14.8%

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Zenith Bank (“Zenith” or “the Bank”) yesterday released its audited FY:2014 result on the floor of the Nigerian Stock Exchange (NSE), outperforming our expectations. We present the highlights of the result and our FY:2015 estimates. Gross Earnings up 14.8% Y-o-Y; PAT up 4.3% Y-o-Y The wave of the release of banks’ FY:2014 results intensified yesterday, building investors’ momentum as Zenith recorded positive growth in both top and bottom line notwithstanding Central Bank of Nigeria’s (CBN)…

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