Equities Highlights
Earnings Updates – East African Breweries Group Plc released their HY’24 Earnings, recording a 22.1% decline in profit after tax (PAT). Sasini on the other hand, registered a 53.6% decline in FY’23 profit after tax (PAT) to KES 542.55Mn – in line with their earlier issued profit warning.
On a monthly perspective, the market indices recorded an upward trend with NASI increasing by 0.1% m/m. In our view, this points to a mild recovery in the equities segment, underpinned by broad expectations of interest rate declines in 2024.
Safaricom recorded the highest turnover in January 2024, with aggregate turnover clocking 961.31Mn. Equity Group Holdings, was second, clocking aggregate turnover amounting to KES 730.62Mn. KCB Group stood third, with total turnover clocking KES 274.77Mn.
Stock Coverage Updates
We have issued our revised 1-year target valuations for all counters in our coverage.
