EQTY | Equity Group FY23 Earnings Note

    Equity Group Holdings trailed below in-house expectations to record a surprise 5.1% y/y slump in net earnings to KES 43.74Bn throughout 2023. Growth momentum was grounded by a faster surge in pre-provision operating expenses compared to operating incomes.

    The Board of Directors recommend a first and final dividend of KES 4.00 per share. This distribution fell marginally below our expected total dividend range. This year’s payment translates to a dividend payout ratio of 34.5%.

    Recommendation - We maintain our BUY recommendation on Equity Group Holdings on account of its robust commercial momentum across regional subsidiaries and adequate coverage against protracted market risks.


    Download (490.77 KB)


    Instagram - https://www.instagram.com/aib_axys_africa/
    AIB-AXYS Africa Ltd is the fusion of two established companies; AIB Capital Limited and Apex Africa Capital Limited, both with over 25 years of experience in the Securities market. With the solid reputation and experience of the professional teams, we leverage talent and networks to better service businesses and investors looking to capitalize on the African growth story, and its vibrant financial sector.
    Latest Reports