Sameer Africa Group Plc posted a 19.86% rise in half year net profit to KSh 103.89 million from KSh 86.67 million over a similar period in 2025.
The firm’s operating profit grew 18.96% to KSh 130.09 million while H1 Pre-Tax profit increased by 18.56% to KSh 142.19 million. Cash generated from operations increased by 121.58% to KSh 178.92 million with closing cash and equivalents rising 265.45% to KSh 265.63 million at the close of June 3Oth 2026.
According to a research note from Ketu Capital, Sameer Africa financials is fundamentally improving, but valuation now requires patience and asset-value conviction.
Sameer Africa numbers
The most impressive result is not the 19.9% net profit growth but a combination of several items. For instance, a 6% fall in Revenue is significant, decline in Operating expenses of 25.9%, an 18.9% rise in Operating profit and Net operating cash flow increase of 132.1%.
Sameer Africa had a closing cash increase of 265.5% while liabilities declined by 6.8% Equity rose by 35.1%. That is a substantial improvement in the financial quality of the business.
The weakness is that Sameer still has to demonstrate that this improved profitability can be sustained without relying on exceptional foreign exchange movements or aggressive cost reductions.
The KSh919 million land transaction is also a potentially significant catalyst, but its repeated delays mean investors should treat it as optionality rather than guaranteed value.
The key conclusion is that Sameer Africa is becoming a much better company, but the share price has also recognised much of that turnaround.
Analysts View on Sameer Africa Investment
“At KSh18.55, the investment case is no longer simply “Buy a cheap turnaround.” It is: “Pay a premium for a profitable, debt-light industrial property platform whose underlying assets may be worth substantially more than their accounting carrying value, while waiting for management to convert that asset value into recurring income and/or shareholder value. That distinction is critical.”
“For a long-term investor, I would therefore be more interested in the trajectory of rental income, cash generation, retained earnings and asset monetisation than in the headline 19.9% PAT growth,” said Dedan Maina, an analyst at Ketu Capital.
H1 2026 strengthens the fundamental case for Sameer. It does not, by itself, make the stock cheap.
Sameer Africa Plc principal business is the letting of investment property and has extended its property offering to more than 750,000 square feet of lettable industrial space with a mix of EPZ and non-EPZ facilities.
It provides warehousing needs to over 40 tenants in various sectors including distribution, retail, manufacturing, agro-processing, business process outsourcing and energy.
The Group owns a large property portfolio part of which is built up and on which its investment property income is derived. Other parcels are earmarked for future development.
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