[kictanet] NSE @ Week 22

[Bill Kagai]

MediaCorp (c)
*Nairobi Stock Exchange – Authorised Information Vendor
Faida Investment Bank - Licensed Agent*

*Global Overview*
Finally, we get to debut Africa/Kenya on this main segment of our global
analysis albeit for reasons we might not be very proud of. Mr Stuart
Fletcher, President of Diageo's international business, told investors at
the Dresdner Kleinwort Beverages Conference that *Africa is the main driver
to Diageo's overall beer performance and is now its largest beer market,
over twice the size of Ireland and Great Britain.* There it is. We drink the
most, we must be proud of it and we must buy EABL shares at least for this
reason. Diageo holds the controlling stake [51%] of EABL.

But there is a second reason why you would wish to monitor this counter
closely. Kenya is currently the breeding ground for Diageo as they attempt a
second venture into the soft drinks market with Alvaro after mixed success
with Malta. Angela Mwirigi (Innovations Manager) at EABL describes it as
their *first real foray into the soft drinks market with an ambitious goal
of grabbing at least 5% of the market* before we travel 'home' for Christmas
in 2008. Armed with a modest budget of USD 3 million, EABL is about to grab
its spot in the Global Markets hall of fame as the demand for Alvaro has
outstripped supply by over 300% (at least from their projections). If
successful, Diageo plans to market these Pineapple and Pear flavoured drinks
globally. Interesting twist here…they are avoiding common flavours such as
orange and strawberry and we find this rather clever.
So, next time you order for yourself or a friend a Tusker, Pilsner, White
Cap, Smirnoff, Johnnie Walker, Captain Morgan, Baileys, J&B, Guinness or
Alvaro better do it as a shareholder in this blue chip that is expected to
be one of the best performers for 2008. Incidentally, EABL reported a 22%
increase in first half profit to 6.45 billion shillings, ($94.85 million),
boosted by sales in its main Kenyan market. Kenya accounted for 66% of the
booze sold in East Africa including Mauritius. Hep Hep Hooray!!

In summary, Wall Street stocks fell on Friday to round out the worst week in
three months as worries about high oil prices hammered energy-sensitive
sectors and left investors on edge about inflation at the onset of a holiday
weekend. The blue chip Dow Jones industrial average .DJI closed down nearly
146 points, or 1.1 percent. Prices of U.S. government bonds rose as
investors shifted out of stocks, while the dollar fell and oil climbed above
$131 a barrel.

*Local Highlights*

1.       *KCB Rights* register closure date is on 4th June 2008. Issue opens
and commencement in trading in Rights at the NSE on 23rd June 2008.
Announcement of Rights Issues results will be on 15th August 2008 and the
listing and commencement of trading of new shares will be on 1st September
2008.

2.       *Sameer* Managing Director Eric Kimani has issued a profit warning
informing the general public of an anticipated major/significant fall in
profit this year citing difficult times experienced and the escalating price
of oil and synthetic based tyre building inputs in the world markets.

3.       *CFC Bank* has announced Kshs 258 million profits for the Quarter
ending 31st March 2008. Profit attributable to shareholders is at Kshs 222
million and earnings per share of KShs 1.43

4.       *Pan Africa Insurance Holdings* has announced the resignations of
John Burbridge with effect from 21st may 2008 and the board has appointed
Mr. Norman Kelly in his place.

5.       *East Africa** Cables* Managing Director – Mugo Kibati – has
announced he will be resigning from his position at EAC at the end of June
2008.

6.       *Diamond Trust Group* has announced un-audited results for the
period ended 31st March 2008. Profit after tax 201 million and Earnings per
share (basic and diluted) at Kshs 1.14.

7.       *Car & General* has announced financial results for the half year
ending March 2008. Profit before tax grew to Kshs 110 million from Kshs 69
million for the same period last year. Earning per share (basic and diluted)
Kshs 3.50.

8.       *Standard Chartered Bank* results – Profit after tax and
exceptional items – Kshs 902 million.

9.       *Sasini *results for the first half year ended 31st March 2008
shows a loss after tax of Kshs 20.47 million. The loss is attributed to
unfavourable weather in the tea growing areas combined with post election
violence which saw a 30% drop in production. Coffee was profitable following
satisfactory prices at the auctions. Sasini has also ventured into Coffee
house business with the opening of *Savanna Coffee Lounge at Sasini
House*and a second outlet at National Museums of Kenya. The board did
not
recommend the payment of an interim dividend.

10.   *Eveready* saw an 18% reduction is revenues for the first 6 months of
the year whilst profit before tax was Kshs 11 million down 91% compared to
the same period last year.

*[For full analysis of all listed stocks – look out for MediaCorp Stock
Detective Report – June/July 2008]*

*NSE highlights*
Inflation is beckoning. Week 22 saw turnover declined to KSh.1.2bn from
KSh.1.7bn posted the previous week, the number of shares traded stood at 32M
against 38M the previous week. The NSE 20 share index was down -0.40% or
20.59 points during the week to settle at 5149.96.  The NSE All share index
(NASI) edged up 0.57 points during the week to stand at 106.97.

Agricultural Sector
This sector traded 326,000 shares, which accounted for 1.01% of the week's
traded volume. Sasini was the most heavily traded counter in this sector,
with 245,000 shares changing hands at between shs.13.80 and shs.16.00.
Kakuzi down 12.16% to shs.32.50 moved 4,000 shares.

Commercial and Services Sector
Commercials had 7M shares traded, which accounted for 23.24% of the week's
traded volume. CMC Holdings actively moved 3.7M shares during the week and
closed at shs.18.70. AccessKenya moved 2.7M shares at between shs.32.00 and
shs.34.00. Nation Media Group down 5.71% to shs.330.00 moved 33,000 shares.

Financial Sector
Financials had 14M shares traded and represented 43.40% of the week's
volume. KCB was the week's biggest mover with 6.7M shares changing hands at
between shs.29.75 and shs.33.25. Equity Bank up ten shillings to shs.270.00
moved 463,000 shares.

Industrial and Allied Sector
This sector had 10M shares, which accounted for 32.02% of the week's volume.
Eveready (EA) slid to shs.4.00 on a volume of 556,000 shares, down from
shs.5.15 posted the previous week. Mumias Sugar moved 5.2M shares at between
shs.12.00 and shs.12.95. KenGen moved 2.5M shares during the week and closed
at shs.25.25.

ALTERNATIVE INVESTMENT MARKET SEGMENT (AIMS)
Unchanged at shs.85.00, Williamson Tea moved 28,000 shares.

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*Price Movement This Week*

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* *

* *

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* *

*16th May*

*19th May*

*20th May*

*21st May*

*23rd May*

*24th May*

*Price Change *

*Price Change *

*Shares Traded Last  Week*

*Total Shares Issued*

*Agricultural*

*Code*

* *

* *

* *

* *

* *

* *

* *

* *

* *

* *

*Unilever Tea*

*UNLV*

56.00

55.50



55.50



55.50

-0.50

-0.89%

                    3,100

48,875,000

*Kakuzi*

*KAKZ*

37.00





34.75

35.00

32.50

-4.50

-12.16%

                   4,066

19,599,999

*Rea Vipingo*

*RVPL*

19.15

19.95

20.00

20.00

19.00

19.00

-0.15

-0.78%

                 74,421

60,000,000

*Sasini*

*STCL*

15.50

15.25

15.55

15.05

14.50

14.20

-1.30

-8.39%

              245,300

228,055,500

* *

* *





















*Commercial & Services*

* *





















*Access Kenya Group*

*AKGL*

32.75

32.50

32.50

32.50

32.75

32.75

0.00

0.00%

          2,743,463

  199,885,578

*Car & Gen*

*CAGR*

50.00

50.00

50.00

50.00

50.00

50.00

0.00

0.00%

                50,252

22,279,616

*CMC*

*CMCH*

17.95

17.85

17.75

18.00

18.80

18.70

0.75

4.18%

          3,792,882

582,709,440

*Hutchings Biemer*

*HUBM*

20.25









20.25

0.00

0.00%

                          -

360,000

*Kenya Airways Ltd*

*KAIR*

47.50

48.00

47.50

46.50

45.25

45.00

-2.50

-5.26%

              503,895

461,615,484

*Marshalls***

*MSHL*

39.75









39.75

0.00

0.00%

                          -

14,393,106

*Nation Media Group.*

*NATN*

350.00

333.00

331.00

325.00

330.00

330.00

-20.00

-5.71%

                33,275

71,305,260

*Scangroup Ltd*

*SCGP*

31.50

31.25

31.25

31.25

31.25

31.75

0.25

0.79%

              255,444

160,000,000

*Standard Group Ltd *

*STDG*

53.00

51.00

52.50

54.50

53.00

53.00

0.00

0.00%

                 21,432

73,275,029

*TPS Eastern Africa (Serena) Ltd*

*TPEA*

68.50

67.50

68.50

69.50

71.50

72.00

3.50

5.11%

                 86,310

105,864,742

*Uchumi Supermarkets*

*UCHM*

14.50









14.50

0.00

0.00%



180,000,000

* *

* *





















*Financial*

* *





















*Barclays Bank*

*BARC*

73.00

72.50

73.00

72.50

72.50

72.00

-1.00

-1.37%

               932,817

1,357,884,000

*CFC Bank*

*CFCB*

116.00

116.00

112.00

118.00

116.00

118.00

2.00

1.72%

               106,868

273,684,211

*Diamond Trust*

*DTBK*

96.00

95.00

94.00

92.50

96.00

96.00

0.00

0.00%

              457,338

163,037,108

*Equity Bank Ltd*

*EQTY*

260.00

259.00

262.00

269.00

273.00

270.00

10.00

3.85%

              463,565

362,209,905

*Housing Finance*

*HFCK*

29.75

30.00

30.25

30.25

29.75

29.75

0.00

0.00%

               400,021

115,000,000

*Centum Limited*

*CENT*

26.25

26.50

26.75

26.50

27.00

27.00

0.75

2.86%

             1,329,110

549,951,880

*Jubilee Holdings Ltd*

*JBLH*

198.00

197.00



194.00

196.00

191.00

-7.00

-3.54%

                 17,800

45,000,000

*K.C.B Bank*

*KCBL*

30.00

30.25

30.25

30.25

30.50

31.00

1.00

3.33%

          6,706,873

1,996,000,000

*Kenya** Re*

*KERE*

15.70

15.60

15.75

15.65

15.80

15.85

0.15

0.96%

           2,134,548

600,000,000

*National Bank*

*NBKL*

55.00

57.00

55.00

55.50

56.00

56.00

1.00

1.82%

               445,018

200,000,000

*National Industrial Credit*

*NICB*

60.00

61.00

61.50

62.00

62.00

62.50

2.50

4.17%

              657,553

296,692,383

*Pan Africa Insurance Holdings Ltd*

*PAIH*

80.00

73.50

73.00

78.00

75.00

72.50

-7.50

-9.38%

                25,200

48,000,000

*Standard Chartered Bank*

*SCBL*

210.00

210.00

210.00

210.00

211.00

211.00

1.00

0.48%

              302,595

271,967,810

* *

* *





















*Industrial & Allied*

* *





















*Athi River Mining Ltd*

*ARML*

96.00

97.00

97.50

98.00

98.50

98.00

2.00

2.08%

               125,640

    94,000,000

*BOC (K)*

*BOCK*

160.00









160.00

0.00

0.00%

                          -

19,525,446

*Bamburi*

*BMBR*

190.00

193.00



188.00

189.00

189.00

-1.00

-0.53%

              270,000

362,959,275

*British American Tobacco*

*BATK*

160.00

159.00

159.00

160.00

160.00

160.00

0.00

0.00%

                77,235

100,000,000

*Carbacid*

*CARB*

137.00









137.00

0.00

0.00%

                          -

11,326,755

*Crown Berger *

*CRBG*

43.25

43.00

43.00

44.75

45.00

44.75

1.50

3.47%

                 14,340

23,727,000

*E.A.Cables*

*EACL*

42.75

42.50

42.75

42.00

41.50

41.00

-1.75

-4.09%

              359,920

202,500,000

*E.A.Portland*

*EAPC*

109.00



110.00

110.00

110.00

110.00

1.00

0.92%

                   4,900

90,000,000

*E.A.Breweries*

*EABL*

179.00

179.00

179.00

179.00

181.00

180.00

1.00

0.56%

              467,979

790,774,356

*Eveready East Africa Ltd*

*EEAL*

5.15

5.00

4.80

4.65

4.20

4.00

-1.15

-22.33%

              556,433

210,000,000

*Kenol*

*KOCL*

92.50

93.00

92.50

92.50

92.50

92.50

0.00

0.00%

                25,020

147,176,120

*K.Pow.& L.*

*KPLC*

206.00

201.00

203.00

204.00

205.00

207.00

1.00

0.49%

                119,509

79,128,000

*KenGen*

*KEGN*

24.75

24.75

24.75

25.00

25.00

25.25

0.50

2.04%

           2,514,862

2,198,361,456

*Mumias*

*MSCL*

12.20

12.25

12.20

12.15

12.15

12.15

-0.05

-0.41%

          5,282,997

1,530,000,000

*Olympia** Capital Holdings*

*OCHL*

13.60

13.10

13.00

13.50

13.05

13.10

-0.50

-3.68%

               100,750

40,000,000

*Sameer Africa Ltd*

*SAMR*

11.05

11.00

10.90

10.60

10.95

10.95

-0.10

-0.90%

                 97,021

278,342,393

*Total*

*TOTL*

34.00

34.25

34.25

34.00

33.50

33.50

-0.50

-1.47%

               250,180

175,064,706

*Unga*

*UNGA*

14.25

14.20

13.85

14.20

14.40

13.85

-0.40

-2.81%

                46,850

63,090,728

* *

* *





















*Alternative Investment Market Sector (AIMS)*





















*A.Baumann*

*ABCL*

11.10









11.10

0.00

0.00%

                          -

3,840,066

*City Trust *

*CITL*

150.00

150.00



150.00



150.00

0.00

0.00%

                   2,400

5,207,558

*Eaagads*

*EAGD*

37.00







37.00

37.00

0.00

0.00%

                      200

8,039,250

*Express *

*EXPK*

20.50

20.00

20.50

20.50

21.00

21.00

0.50

2.44%

                64,872

35,403,790

*Williamson Tea*

*WTKL*

85.00







85.00

85.00

0.00

0.00%

                 28,100

8,756,320

*Kapchorua*

*KTCL*

76.00









78.00

2.00

2.63%

                          -

3,912,000

*K.Orchads*

*KEOL*

3.00









3.00

0.00

0.00%

                 10,000

12,868,124

*Limuru Tea*

*LTCL*

338.00









338.00

0.00

0.00%

                          -

600,000


Bildad Kagai
MD - MediaCorp Limited
Nairobi Stock Exchange Authorised Information Vendor
Suite B2, Tetu Apartments, State House Avenue
S1°18.166
E36°49.797
P. O. Box 20311 - 00200
Nairobi, Kenya
Tel. 254 20 272 8332
Fax. Rendered Obsolete
www.mediacorp.co.ke
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