Listed tyre manufacturing and property investment firm Sameer Africa PLC has reported a 20.4% decline in net earnings for the first half of 2025 to KES 86.7 million despite a 14.3% surge in revenue to KES 220.3 million from KES 192.8 million in the same period last year. The net profit dip is attributed to unfulfilled foreign exchange gains on converting U.S. dollar debts into local currency.
The increase in revenue was largely driven by the full leasing of the infill project completed in September 2024 and the renewal of tenancy contracts. Operating profit jumped 51.1% from KES 72.4 million in H1 2024 to KES 109.4 million, on account of a 11.2% fall in operating expenses attributed to the firm’s prudent management of costs.
Notably, Sameer’s net finance income plunged 99.5% to KES 0.28 million. Earnings per share for the period under review stood at KES 0.31, down from KES 0.39 in H1 2024. The Board of Directors did not recommend the payment of an interim dividend. Sameer expanded its asset base by 7.6% to KES 1.58 billion from KES 1.47 billion. Total equity stood at KES 829.3 million, up 39.8% year-over-year.
The property investor oversaw a high supply of warehousing services in Nairobi, which has continued to lower the rates. However, the group is focused on providing outstanding services to its customers and diversifying into new markets.
Sameer Strong NSE Performance
The firm has posted a robust performance at the Nairobi Securities Exchange (NSE) on year to date, with its share price gaining 545% to KES 15.75 per share from KES 2.44 per share at the start of the year. Its market capitalization currently stands at KES 4.38 billion, translating to about 0.164% of the Bourse’s equity market. Sameer Africa Plc is currently the 32nd most valuable stock on the NSE.
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