Britam Holdings Plc 1H18 Earnings Note
Britam Holdings Plc (NSE: BRIT) released 1H18 earnings recording a 6.6% y/y increase in Profit before tax (PBT) to KES 1.37Bn. This was mainly attributed to a 9.6% y/y increase in net earned premium and a 32.1% y/y increase in investment income. Net claims and benefits increased by 13.1% y/y to KES 7.54Bn while operating and other expenses rose 11.6% y/y to KES 4.35Bn. We maintain our HOLD recommendation against our target price of KES 13.13. This represents a 1.6% downside potential against the latest market price of KES 13.35. The company trades at a P/B of 1.7x against the sector median P/B of 1.17x.
Genghis Capital is an innovative and customer focused Investment Bank licensed by the Capital Markets Authority (CMA). Founded in 2008, Genghis is one of the leading investment banks in Kenya. Since its establishment, Genghis has achieved tremendous growth to offer a well-diversified portfolio of financial services that includes:
- i. Securities(Equity/Debt) Trading
- ii. Research
- iii. Wealth Management services
- iv. Investment Advisory & Management via the GenCap Unit Trusts
- v. Corporate Finance & Transaction Advisory services
The Kenyan Capital Markets continue to develop in size, scope and sophistication. With this is an increasing demand for more specialized and personalized brokerage service and we at Genghis Capital are glad to be able to offer you this service. Our strength lies in ensuring our clients are up to speed with developments at the stock market and the economy. Research and technology remains our competitive and comparative advantage hence Experience, Expertise and Professionalism are some of the qualities you can expect from our team.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.