Quote Of The Week

"Freedom for Everybody or Freedom for Nobody"
Malcolm X

Thursday, 25 August 2011

CROWN BERGER HALF YEAR 2011 NET PROFIT UP 7.8% TO KSHS. 45.9 MILLION








CROWN BERGER today morning released their Half Year results for the half year period ending 30th June 2011

Turnover rose 26.63% to Kshs. 1.81 Billion from Kshs. 1.43 Billion

Net Profit Margin was however down to 2.5% from 3% due to weakening of the Kenya Shilling and high raw material prices

Earnings Per Share went up from Kshs. 1.79/= to Kshs. 1.93/=



H1 2010
Kshs.
H1 2011
Kshs.
% CHANGE
TURNOVER
1.43 BILLION
1.81 BILLION
+26.63%
NET FINANCE COSTS
22.4 MILLION
14.1 MILLION
-37.15%
PROFIT BEFORE TAX
70.1 MILLION
75.1 MILLION
+7.14%
NET PROFIT
42.5 MILLION
45.9 MILLION
+7.81%
NET PROFIT MARGIN
3%
2.5%
-0.5%
EARNINGS PER SHARE
1.79/=
1.93/=
+7.82%


Total Assets rose 32.81% to Kshs.2.48 Billion

Management noted that “the outlook for the 2nd Half of the year is a matter of concern due to the current economic situation in the country and the board has taken measures to sustain profitability with a positive note”

No interim dividend was declared

Crown Berger finished the day at NSE trading as the highest gainer. It traded 2,800 shares at Kshs. 29.00 ending up higher by 16%

At that price, it is trading at a forward Price/Earnings ratio of 7.5


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