Sameer of Kenya Set for Highest in Six Months on Profit

Sameer Africa Ltd. (SAME), a Kenyan tire manufacturer, headed for its highest close in almost six months after full-year profit jumped 69 percent.

The stock advanced 4.7 percent to 4.5 shillings by 12:53 p.m. in Nairobi, the capital. A close at that level would be the strongest since Oct. 31, according to data compiled by Bloomberg.

Profit from operations jumped to 96.9 million shillings ($1.1 million) in the 12 months through December, from 57.4 million shillings a year earlier, the Nairobi-company said in a statement e-mailed by the city’s stock exchange on April 20.

To contact the reporter on this story: Eric Ombok in Nairobi at eombok@bloomberg.net.

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

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