Monday, August 18, 2008

Olympia turnaround?

For the first time in years, Olympia has received clean statements from their auditors (DCDM) and the company resumes paying a dividend of this year of Kshs. 0.20 per share.

Also Paul Wanderi Ndungu, a lawyer who made a windfall with Kenya Airways shares, and is now Olympia’s second largest shareholder with 12.25% behind Dunlop properties, has joined the Olympia Board this year along with John Simba.

The company will also take a majority shareholding in Avon Limited, and Mather & Platt in addition to increasing investment in Heri Limited. But its attachment to Kenya is miniscule with just 5% of revenue from here (95% was from Botswana – up from 85%)

See Olympia accounts summary here.


Anonymous said...

Michael Matu the CEO gave a talk at the Rotary club of Langata not too long ago. Aggressive, sharp and has big plans to say the least.

Correction, there are two paul Ndungu's in question. The one who was was the largest KQ shareholder after GOK is the Safaricom dealer (Mobicom) and not the lawyer you just refered to.


Anonymous said...

Paul Wanderi Ndungu is NOT a lawyer. You are confusing him with Paul N. Ndungu, a partner at Ndungu Njoroge & Kwach (of the Ndungu Land Report).

coldtusker said...

Paul Wanderi Ndungu of KQ & CMC fame is an accountant.


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