Britam Jumps 4.6% Following A Four-Fold Jump In EPS To Ksh 0.65

By Soko Directory Team / Published August 31, 2023 | 8:54 pm

KEY POINTS

Equity Group shed 1.6% to a two-month low of 38.85 shillings on increased foreign selling. Safaricom and KCB each lost 0.6 percent with the latter closing at a 6.5-yr low.

Britam jumped 4.6 percent to 5.42 following a four-fold jump in EPS to 0.65 shillings on a 33.8 percent y/y jump in insurance revenue as well as a 26.8 percent y/y climb in investment income.

Unprecedentedly, ILAM Fahari I-REIT was the top traded counter, declining 7.9% to KES 8.36 following its recent rally and on bargain hunting ahead of tomorrow’s record date for the redemption offer which has been set at a price of KES 11.00 (+31.6% upside). The counter was the top loser of the session.

Equity Group shed 1.6% to a two-month low of 38.85 shillings on increased foreign selling. Safaricom and KCB each lost 0.6 percent with the latter closing at a 6.5-yr low.

Serena was the best performer of the day, rebounding 8.2 percent following its 2.9 percent slide to close at an over one-month high of 12.50 shillings, though on thin volumes.

Jubilee gained 1.7 percent to 175.25 following its interim dividend announcement of 2.00 shillings with dividend book closure slated for Friday 8 September 2023.

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In other news, The value of mobile money transactions slid 3.0 percent y/y (though rebounded +6.4 percent m/m from June’s -4.0 percent m/m) in July 2023 to cumulatively stand at 4.4 trillion shillings from 4.6 trillion shillings in July 2022 according to data from the CBK.

Conversely, the volumes transacted in the period grew 5.9 percent y/y (+2.8 percent m/m) to stand at 1.4 billion transactions from 1.3 billion in June 2022. Subscriptions ticked higher by 7.9 percent y/y (+0.3 percent m/m).

About Soko Directory Team

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system.Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

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