Standard Group share leads NSE performers with 82per cent price jump

Standard Group Commercial Department staff sell the paper along Haile Selassie Fred Kirui (Business Manager, Digital) Irene Kimani (Commercial Director), Tim Riungu (Business Manager, KTN NEWS) Keegan Alusa (Business Manager, Radio PHOTO:STANDARD

Standard Group’s increased returns in 2016 and relaunch of the newspaper in March this year have pushed its share to Sh30, making it the best stock on the Nairobi bourse year to date.

Having closed last year with the share valued at Sh16.50, the stock of the country’s second-largest media house climbed to a 19-month high, offering investors positive returns.

Historical data on the Nairobi Securities Exchange (NSE) shows that the rally of 81.8 per cent by Standard Group makes it the highest gainer since January. At the current price, it is only closer to a level last seen in November 2015.

Nation Media Group, another listed media firm, has gained 10.7 per cent since the year began, trailing Kenya Airways with a gain of 16.2 per cent in the commercial and services sector.

In March, Standard Group announced a 169 per cent growth in earnings to bounce back to profit and consolidated the good performance by relaunching its flagship product, The Standard, in the same month.

STEADY CLIMB

From a low of Sh17.17 in mid-March, the share has been on a steady climb to yesterday’s price.

Battery maker Eveready came second with a gain of 46.8 per cent, followed by Sasini Tea, which rose 41.9 per cent.

The biggest losers have been Express Kenya (-50.4 per cent), Mumias Sugar (-42.3 per cent), Home Afrika (-37.5 per cent) and Uchumi, which has shed 36.7 per cent of its value since January.