Sameer Africa Limited (Kenya) FY21 Group revenue down 14% to Kshs 652 million

By Published On: April 21st, 2022Categories: Corporate announcement, Earnings

GROUP RESULTS

Sameer Africa Limited (SAMEER.ke) 2021 Abridged Report

The Group’s revenue reduced by 14% from Kshs 757 million in 2020 to Kshs 652 million in 2021. This was largely due to disruption of the global supply chain and rent rebates extended to tenants as a result of the Covid-19 pandemic. Despite 2021 being a difficult year, the group reported a profit of Kshs 217 million which was a significant improvement from the Kshs 43 million profit reported for the year 2020.

OUTLOOK 2022

In 2022, the Group’s emphasis will be on the implementation of the second phase of its strategic plan focusing on both the property and tyre businesses.
However the Board remains cautious in its outlook as a result of the continued uncertainty around the Covid-19 pandemic and the conflict in Ukraine and its impact on global supply chain, fuel prices and cost of products and services. The upcoming general election and the continued depreciation of the Kenya shilling, may also impact the business environment in the second half of 2022.

SUMMARY DIRECTORS’ REMUNERATION REPORT

During the year, Sameer Africa PLC paid Kshs 6 million (2020 — Kshs 6.9 million) as non-executive directors’ emoluments.

Managing director’s emoluments paid, Ksh 12 million (2020 – Ksh 7.9 million)

DIVIDEND

The Board of Directors do not recommend the payment of a dividend for the year ended 31 December 2021.

NOTICE AND AGENDA OF THE 53RD ANNUAL GENERAL MEETING

The Annual General Meeting of the Company shall be held on a date to be notified to shareholders.

BY ORDER OF THE BOARD

Mercy Mbijiwe
COMPANY SECRETARY


Sameer Africa Limited (SAMEER.ke)

Share price: 3.58 Shillings (0.03 | 0.85% – 16/08/22)

Sign up for Email Alerts