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MarketScreener Homepage  >  Equities  >  Nairobi Stock Exchange  >  Equity Group Holdings Plc    EQTY   KE0000000554

EQUITY GROUP HOLDINGS PLC

(EQTY)
  Report
End-of-day quote. End-of-day quote Nairobi Stock Exchange - 04/07
33.65 KES   -1.61%
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Equity : Posts a 14% Rise in Net Profits to Hit Sh22.6 Billion

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03/20/2020 | 09:20am EDT

Equity Group Holdings has reported a 14 percent year on year growth in FY19 Profit after Tax to Sh22.6Bn, compared to Sh19.8 billion in 2018.

This was supported by 8.6 percent year on year growth in Net interest income to Sh45.0 Billion, coupled with 19 percent rise in non-interest revenue to Sh30.8 billion.

Consequently, non-interest revenue contribution rose 219 basis points to 40.6 percent.

"Execution of the Group's business strategy continued to yield results as non-funded income contributed 40 percent of the Group's total income reflecting quality and diversification of income. Success in our regional expansion and business diversification saw subsidiaries contribution to Group profit after tax rise to 18 percent up from 15 percent the previous year," James Mwangi, Managing Director and CEO said.

The loan book grew 23.3 percent to Sh366.4 billion with 97 percent of transactions occurring outside the branch, while investment in government securities rose 7.0 percent to Sh172.2 billion.

Cost-to-Income (CTI) was relatively unchanged year on year at 51.5 percent.

In Kenya, Cost-to-income clocked 45.7 percent as the bank has heavily leveraged on its mobile, online, agency and digital platforms in the country.

Management is targeting to push the branch numbers further lower in Kenya with branches envisaged to serve high-value transactions for SMEs, corporates, wealth management, and advisory.

Analysts at Genghis Capital anticipate CTI to settle at sub 50 percent levels as the bank recovers from one-off costs (KES 1.8Bn) witnessed in 2Q19 on account of an ATM network upgrade.

A final dividend of KES 2.50 was declared to mark a 25 percent increase from the previous year.

Copyright Capital FM. Distributed by AllAfrica Global Media (allAfrica.com)., source News Service English

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Financials (KES)
Sales 2019 72 992 M
EBIT 2019 34 356 M
Net income 2019 22 497 M
Debt 2019 -
Yield 2019 6,87%
P/E ratio 2019 5,54x
P/E ratio 2020 6,06x
Capi. / Sales2019 1,70x
Capi. / Sales2020 1,69x
Capitalization 124 B
Chart EQUITY GROUP HOLDINGS PLC
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Equity Group Holdings Plc Technical Analysis Chart | MarketScreener
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 7
Average target price 52,09  KES
Last Close Price 32,80  KES
Spread / Highest target 125%
Spread / Average Target 58,8%
Spread / Lowest Target 17,1%
EPS Revisions
Managers
NameTitle
James Njuguna Mwangi Group CEO & Non-Independent Executive Director
David Raymond Ansell Chairman
Hakan John Wilson Chief Operating Officer
David Ngata Group Director-Finance
Mary Wangari Wamae Non-Independent Executive Director