21-NOV-2016 Weekly report - Week 46 Market Summary The week saw NASI declining by 0.9% while NSE 25 remained flat and NSE 20 Market Perfomance gained 0.8%. Co-operative Bank, Barclays Bank and Diamond Trust Bank released P revious T oday %Change Q3’2016 results recording core EPS growth of 22.3%, (5.1%), and 11.4%, Shares traded 108,248,200 110,140,200 1.75% respectively, while Centum released H1’2017 results recording a core EPS growth of Equity Turnover (KES) 2,311,730,716 2,631,293,575 13.82% 0.4%. Market Cap (KES Bill) 2,050 2,029 -1.05% Market Cap (USD Mil) 20.2 19.9 -1.16% Performance was driven by losses in select large cap stocks such as Safaricom and NSE-20 Share Index 3,251 3,264 0.39% EABL, which lost 3.6% and 1.9%, respectively, despite gains of 7.0%, 6.8% and 3.5% NSE All Share Index 142 140 -1.05% by KCB, Co-operative Bank and Barclays Bank, respectively. Equities turnover NSE 25 Share Index 3,713 3,692 -0.55% declined by 23.3% to close the week at Kshs 2.0 bn from Kshs 2.6 bn the previous 91-day Treasury Bills 8.113 8.23 1.44% week. Foreign investors turned net sellers with net outflows of USD 0.4 mn, 182-day Treasury Bills 10.296 10.3 0.04% compared to net inflows of USD 1.7 mn recorded the previous week, with foreign Source:364-day KCB Treasury ANALYSIS Bills & COMPANY REPORTS 10.609 10.717 1.02% investor participation declining to 51.2% from 68.1% recorded the previous week. Safaricom was the top mover during the week accounting for 22.1% of market activity. Top Gainers & Losers Currency W eek Close w-o-w % Shares Traded The Kenyan shilling weakened against the dollar due to increased demand from Gainers multinational companies for dollars to make their dividend payments Athi River Mining 31.0 21.6% 3,895,300 NIC Bank Ltd 32.8 17.0% 946,300 On a year to date basis, the shilling has appreciated by 1.0% against the dollar. We E.A.Portland Cement Co. Ltd 27.0 9.1% 2,300 expect the shilling to remain stable for the remainder of the year supported by the high Home Afrika Ltd 1.2 9.1% 1,610,600 levels of foreign exchange reserves equivalent to 5.2 months of import cover The Limuru Tea Co. Ltd 530.0 8.2% 100 Losers Forex Deacons (East Africa) Plc 6.5 -9.8% 123,300 P revious T oday %Change STANLIB FAHARI I-REIT 12.5 -9.1% 31,500 US D/KE S 101.66 101.74 -0.081% KenGen Co. Ltd 5.6 -5.1% 5,528,900 East African Breweries Ltd 265.0 -5.0% 1,141,600 STG Pound/KES 126.98 128.40 -1.107% Trans-Century Ltd Ord 0.50 AIMS 7.0 -4.8% 91,500 E uro 112.79 110.77 1.822% Actively Traded JP Y (100) 98.73 95.57 3.306% Safaricom Ltd 20.8 -2.4% 41,507,600 KE S /US H 34.48 34.77 -0.834% Equity Group Holdings Ltd 31.3 1.6% 13,903,900 KE S /T S H 21.46 21.45 0.065% KCB Group Ltd 29.8 3.5% 10,264,500 S A RAND 7.50 7.08 -5.553% Kenya Airways Ltd 7.1 2.9% 7,623,400 KenGen Co. Ltd 5.6 -5.1% 5,528,900 Source: KCB ANALYSIS & COMPANY REPORTS 1 Source: KCB ANALYSIS & COMPANY REPORTS Average T otal Forward Return Return P rice SECURITY Prices as at S hares Mkt Cap. EPS Earnings Forward P /E Dividend E arnings on on Book to 24/10/2016 Issued Kshs Mn. Total Earnings EPS (annualized) Growth DPS P /E P /E Share Value Y ield Y ield E quity Asset V alue Book S T AT US AGRICULTURAL FY 2015 Eaagads Ltd Ord 1.25 AIMS 17.75 32,157,000 5,194.00 527,686,999 16.41 19.28 17% 0.00 1.08 0.92 20.86 0.00% 92.45% 76.26% 69.33% 21.52 0.82 FY 2015 Kakuzi Ltd Ord.5.00 265.00 19,599,999 641.57 527,687,000 26.92 31.63 17% 5.00 9.84 8.38 311.36 1.89% 10.16% 15.32% 11.58% 175.71 1.51 FY 2015 Kapchorua Tea Co. Ltd Ord Ord 5.00 AIMS 82.00 7,824,000 954.00 234,322,000 29.95 37.70 26% 5.00 2.74 2.17 103.23 6.10% 36.52% 16.41% 11.82% 182.47 0.45 FY 2015 The Limuru Tea Co. Ltd Ord 20.00 AIMS 530.00 1,800,000 4,618.12 3,044,000 1.69 1.94 15% 1.00 313.40 272.57 609.40 1.27% 0.32% 1.20% 0.89% 141.26 3.75 FY 2015 Sasini Ltd Ord 1.00 20.25 228,055,500 3,187.30 1,101,212,000 4.83 6.58 36% 1.25 4.19 3.08 27.58 1.75% 23.85% 8.15% 6.86% 59.23 0.34 FY 2015 W illiamson Tea Kenya Ltd Ord 5.00 AIMS 182.00 17,512,640 0.00 738,209,000 42.15 45.68 8% 40.00 4.32 3.98 197.23 21.98% 23.16% 10.59% 7.95% 397.99 0.46 306,949,139 14,595 3,132,160,999 S ector P E 4.66 AUTOMOBILES & ACCESSORIES FY 2015 Car & General (K) Ltd Ord 5.00 27.00 40,103,308 1,082.79 127,147,000 3.17 3.74 18% 0.00 8.52 7.22 31.85 0.00% 11.74% 4.21% 1.41% 75.33 0.36 FY 2015 Marshalls (E.A.) Ltd Ord 5.00 9.00 14,393,106 129.54 (694,000) -0.05 -0.03 28% 0.00 -186.65 -259.08 -6.48 0.00% -0.54% -0.25% -0.11% 19.43 0.46 FY 2015 Sameer Africa Ltd Ord 5.00 3.00 278,342,393 835.03 (16,552,700) -0.06 -0.05 15% 0.00 -50.45 -59.64 -2.54 0.00% -1.98% -0.65% -0.43% 9.11 0.33 332,838,807 2,047 109,900,300 S ector P E 18.63 BANKING HY 2016 Barclays Bank of Kenya Ltd Ord 0.50 8.60 5,431,536,000 46,711.21 4,786,928,000 0.88 0.81 -8% 1.00 9.76 10.62 7.90 11.63% 10.25% 13% 2% 6.92 1.24 HY 2016 Diamond Trust Bank Kenya Ltd Ord 4.00 133.00 266,321,115 35,420.71 6,754,916,000 25.36 16.52 -35% 2.50 5.24 8.05 86.63 1.88% 19.07% 17% 2% 153.59 0.87 HY 2016 Equity Group Holdings Ltd Ord 0.50 31.25 3,773,674,802 117,927.34 20,159,870,000 5.34 1.17 -78% 2.00 5.85 26.80 6.82 6.40% 17.10% 27% 5% 19.98 1.56 HY 2016 Housing Finance Group Ltd Ord 5.00 14.50 352,416,667 5,110.04 1,225,106,000 3.48 12.49 259% 1.30 4.17 1.16 52.08 8.97% 23.97% 11% 2% 31.17 0.47 HY 2016 I&M Holdings Ltd Ord 1.00 97.00 392,362,039 38,059.12 6,966,528,000 17.76 11.21 -37% 2.90 5.46 8.65 61.26 2.99% 18.30% 24% 4% 74.33 1.30 HY 2016 KCB Group Ltd Ord 1.00 29.75 3,066,056,647 91,215.19 21,000,506,000 6.85 1.44 -79% 2.00 4.34 20.73 6.23 6.72% 23.02% 23% 4% 29.67 1.00 HY 2016 National Bank of Kenya Ltd Ord 5.00 7.05 308,000,000 2,171.40 622,588,000 2.02 14.29 607% 0.00 3.49 0.49 49.82 0.00% 28.67% 5% 1% 36.90 0.19 HY 2016 NIC Bank Ltd Ord 5.00 32.75 639,945,603 20,958.22 4,610,204,000 7.20 6.88 -5% 1.25 4.55 4.76 31.26 3.82% 22.00% 16% 3% 44.21 0.74 HY 2016 Stanbic Holdings Plc ord.5.00 69.50 395,321,638 27,474.85 10,452,628,000 26.44 11.13 -58% 6.15 2.63 6.24 29.26 8.85% 38.04% 24% 4% 110.24 0.63 HY 2016 Standard Chartered Bank Kenya Ltd Ord 5.00 185.00 343,510,571 63,549.46 14,820,168,000 43.14 12.81 -70% 17.00 4.29 14.44 54.93 9.19% 23.32% 26% 4% 168.55 1.10 14,969,145,082 448,598 91,399,442,000 S ector P E 4.91 COMMERCIAL AND SERVICES HY 2016 Atlas African Industries Ltd GEMS 1.05 1,497,370,885 1,572.24 (31,106,000) (0.0) (0.0) 13% 0.00 -50.54 -44.92 1.18 0.00% -1.98% -34.9% -7.4% 0.06 17.65 FY 2015 Express Kenya Ltd Ord 5.00 AIMS 3.25 35,403,790 115.06 (26,225,000,000) (740.7) (621.40) -16% 0.00 0.00 -0.01 2.73 0.00% -22792.00% -73.4% -16.6% -1008.88 0.00 FY 2015 Hutchings Biemer Ltd Ord 5.00 20.25 360,000 7.29 71,726,000 199.2 222.22 12% 0.00 0.10 0.09 22.59 0.00% 983.90% 20.4% 10.6% 974.61 0.02 FY 2015 Kenya Airways Ltd Ord 5.00 7.05 1,496,469,035 10,550.11 4,423,000 0.0 0.00 13% 0.00 2385.28 2,110.02 7.97 0.00% 0.04% 8.9% 2.8% 0.03 211.67 HY 2016 Longhorn Publishers Ltd Ord 1.00 AIMS 4.85 369,940,476 1,794.21 3,178,000,000 8.6 7.84 -9% 0.35 0.56 0.62 4.43 7.22% 177.13% 32.6% 32.1% 26.33 0.18 FY 2015 Nairobi Business Ventures Ltd Ord.