Investors at the Nairobi Securities Exchange (NSE) saw their wealth rise by Sh5.2 billion in a single day Thursday to stand at a total of Sh2.054 trillion.
Coop Bank share price did not change despite reporting a 36.6 per cent increase in earnings per share before trading began Thursday.
Kakuzi’s price rose by Sh15 a share to stand at Sh316 on the back of robust financial results where the earnings per share were up 229.4 per cent to Sh26.92 and dividend per share was up 33.3 per cent to Sh5.00.
“The improved profitability was driven to some extent by weather conditions as well as favourable market demand for the main avocado exports,” said Standard Investment Bank (SIB) in analysis.
The SIB also noted that “the weakening of the shilling by about 12 per cent had a particularly positive impact. Gross margins improved from 36.0 per cent to 51.4 per cent, with operating profit margins climbing from 8.8 per cent to 26.1 per cent.”