June Review
The month of June saw a rally in Jubilee Holdings as investors rushed to buy on news that the insurance company is preparing to buy back its own shares. Various companies released their earnings with Kenya Re announcing a 25.8% y/y drop in net earning to KES 2.94Bn, Kapchorua Tea Kenya net earnings dropping 63.7% y/y to KES 7.07Mn, and Williamson Tea Kenya net earnings decreasing to a loss of KES 146.1M. However, Crown Paints net earnings increased 85.5% y/y, to KES 0.60Bn on the back of minimal costs strategies adopted due to the pandemic.
What to expect in July
Centum is expected to release its FY21 results. Banks, on the other hand, are also to release their half-year financial results this month which could give a clearer picture of the recovery in the sector.
