Wit a PE ratio above 20 and increase on year by year profitability,one cnt go wrong wit this stock. In addition,it has never split,so has greater chances of getn to range of sh. 50 in mid term than lets say EB which is currently trading at similar price levels as HF..

Having seen the sector half-year results come in,one can with some measure of optimism say the construction industry unlike banking is a good investment bet this year and set to improve as Kenya's economy grows and faith in brick and mortar remains.

A counter I've set on my watch is HFCK which has posted a 127% half-year profit growth. The mortgage lender announced H1 results making a profit after tax of Kes.93.4mn from Kes.35.9mn made in a similar period last year. Total interest Income went up by 59.3% to register Kes.547.1mn. Loans and advances increased by 42.4% to Kes.703.5mn.

Despite the difficult economic times the company has recorded commendable results also correlated to the improved performance in the construction industry this 1st half of the year. The Makao product is reportedly doing quite well with the diaspora and the foray into commercial real estate makes this an exciting counter to invest in.Stanchart (banking) doing 40% good,HFCK doing 127% great!

NB: Vinyl et al,why invest with KPLC & KenGen when HFCK exists? I'd say without guarantee nunua for at least an 18 month investment horizon..when the Sept semister school fees local investors are done selling...

Your thoughts on its future?

I'd like these especially on the synergies it can get by its partnership with Equity Bank..espcially given KCB has until Jan 2010 to close/merge S & L,its mortgage subsidiary,with the bank's operations as part of cost management...

Housing Finance has registered a 57% growth in pre-tax profits for the 3rd Quarter 2009.


PBT increased to Sh202 million up from Sh128 million during a similar period last year.


Loans and advances increased by 33% to Sh13 billion,from Sh9.8 billion during a similar period last year. As a result,interest income increased to Sh1.2 billion from Sh932 million over the same period last year.


The level of bad books as indicated by the net non-performing loans portfolio dropped marginally to Sh801 million from Sh892 million.


Customer deposits increased to Sh12 billion,up from Sh9 billion in September 2008.


HF Managing Director Frank Ireri attributed the growth to product innovation,cautious loan disbursements and lower cost of funds..further indicates 'We will continue to focus on product innovation,customer service,credit risk management and cost control’’

This should be a good financial year for HFCK..one wonders how many companies in the NSE will return such results this year on the back of a depressed economic environment...and possibly better results as the economic recovery takes root for the middle class to act more aggressively...

Bure Kabisa!

Cant buy this stock..those results are just a smoke screen and cannot sustain the momentum..


M'c Kende Siafu !

home ownership is still many a persons dream,the construction industry especially for low and medium income households is sustained,i will hold onto the counter.

see it through my lens?