Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

AccessKenya Rises on Speculation of Posting Full-Year Profit

Jan. 4 (Bloomberg) -- AccessKenya Group Ltd., the nation’s only publicly-traded Internet company, jumped the most in nine months on speculation it will post a full-year profit.

The stock added 45 cents, or 8.7 percent, to 5.60 shillings by the close of trading in Nairobi, the biggest jump since April 6, 2011. Shares of the company plunged 62 percent in 2011.

“Earnings for 2011 are expected to be substantially stronger than 2010 and we are seeing a lot of position taking on the counter,” Eric Musau, a research analyst at Nairobi-based Standard Investment Bank Ltd., said by phone today. “Although it did not have a good first half, the second half is expected to be good”.

The earnings for the 12 months to Dec. 31 are expected at 133 million shillings ($1.54 million) compared with a loss of 8 million shillings a year earlier, Nairobi-based Kestrel Capital East Africa Ltd., an investment banking company, said Oct. 18.

-- Editors: Ash Kumar, Peter Branton

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

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.