Sterling Capital gets back in the game with a bang!
Sterling Capital rising out of the ashes has scored an impressive Sh16.8 million in profit to the first half of this year from Sh3.2 million losses in a similar period last year.
The impressive results come as the firm relishes reinstatement of Sterling’s investment banking license in October 2017. This was after it was downgraded to stockbroker level in 2011 after it failed to meet CMA’s revised minimum capital limit for market players 26.
The form even attracted Private Equity player Kuramo which bought minority stake late last year.
Brokerage commissions were up from Sh15 million to Sh39 million and interest income soared from Sh2 million to Sh14 million. They made Sh32,500 in advisory services when last year they made none.
Expenses were up from Sh23 million to Sh29 million largely attributed to the Sh4.3 million bump in employee salaries.
Standard Chartered Investments
StanChart Investment doubled profits from Sh127 million by July 2017 to Sh254 million in the first half of this year by increasing advisory and consultancy fees by 47 percent. Cost increased marginally by 11 million which went to employees.
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Fusion
Fusion Investments saw its profits drop by a half following decreased earnings from interest incomes and nil exchange gains.
The investment management firm saw profits decline to Sh3 million from Sh5.2 million in the six months to June 2017.
The cost of employees reduced by Sh3.1 million indicating job cuts even as directors awarded themselves higher perks raising their emoluments from Sh4.9 million to Sh9.2 million in the first half f the year.
Generally, costs were up from Sh18.3 million to Sh23 million.
Stanlib Fahari
The only listed real estate investment firm stayed in the red for a second time in its half-year books when it posted Sh250 million loss.
Read Also: Stanlib enters Lavington even as rent dips on tough times
This was, however, a narrower loss than the Sh271 million posted last year after the firm cut costs from Sh420 million to Sh404 million this year.
Incomes were up from Sh197 million in 2017 to Sh208 million this year mainly on reduced exchange losses and gains made in interest income and dividends.
