The company was hit by time costs below he line. We are encouraged that the numbers of subscribers to the company’s services reached 11,96 millions. This is the first release of numbers after the company was listed. Kenya is pushing mobile-phone companies to expand their service, to help boost Economic growth. The market for mobile-phone subscribers expects to double to about 25 million in the next few years.
The current price puts the stock on a PE multiple of 10.5x which is at a reasonable discount to the 12.8x average.