Earnings of the 117 companies that have reported for the six months ended June 2022 amounted to US$5.6bn, up 17% on H1 2021.

H1 2022 vs H1 2021 US$ earnings by market

The 2022 earnings of 11 countries out of 13 in the report are up from 2021:

1. Zimbabwe: US$111m up 253%
2. Mauritius: US$48m up 115%
3. Tanzania: US$224m up 49%
4. Zambia: US$60m up 21%
5. Kenya: US$806m up 17%
6. Nigeria: US$2,847m up 16%
7. Rwanda: US$49m up 13%
8. Uganda: US$117m up 12%
9. Botswana: US$101m up 12%
10. Malawi: US$90m up 9%
11. Namibia: US$25m up 1%

There is a negative correlation between earnings growth and share price performance. Although 72 companies have increased their earnings in US$ terms, 45 companies have seen their share prices fall during 2022.

Companies with the highest earnings increases:

Below are the 10 companies in the report with the highest earnings increases in H1 2022:

Please click on the company name for up to date share price information, market capitalisation and 52-week liquidity.

1. Swissport Tanzania Plc: US$1m up 1130%
2. ZB Financial Holdings: US$22m up 555.7%
3. FBC Holdings Limited: US$31m up 402.8%
4. First Capital Bank Limited: US$10m up 244.6%
5. CBZ Holdings Limited: US$53m up 238.6%
6. Lucara Diamonds Corporation: US$32m up 234.9%
7. Dairibord Holdings Limited: US$1m up 183.5%
8. RDC Properties Limited: US$5m up 172.7%
9. Unilever Nigeria Plc: US$5m up 163.5%
10. MTN Group: US$491m up 162.1%

Download the Full report here.

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