Mumias Sugar Company Ltd began to experience lowered sugar output and decreased profits in 2012. This was initially blames on inefficiency and a forensic audit by the audit firm KPMG, found procedural and financial irregularities which top management had hid from the company's Board of Directors.
This lead to a loss of over KSh:1 billion by the company. The top 52 managers were fired and the company asked the government for KSh2.3 billion in bail-out funds, of which KSh500 million had been advanced, as of the first week of February 2015.
As of 24 September 2019, Kenya Commercial Bank Group placed the sugar miller under receivership and appointed the consultancy firm of PVR Rao as the administrator.
Mumias Sugar Company Ltd has its headquarters in the town of Mumias, in Kakamega County, Western Province of Kenya, near the sugar plantations and factories of the company. The company maintains an operations centre in Nairobi.
Mumias Sugar Company Ltd forms part of the Food Processing Industry and the Consumer Goods Sector.
Mumias Sugar Company Ltd Stock Performance
The current price for Mumias Sugar Company Ltd stocks is on it last trading day in 2019 was 0.28 Kenyan Shilling (KES). The company had a total market capitalisation of 444M KES with a P/E ratio of -0.03 and earnings per share of -9.90 KES. A total of 1.53B shares were outstanding.
At present there is no increase of earnings per share or any profits shown over a period. Investors are not advised to buy or sell Mumias Sugar Company Ltd stocks as they cannot be assured of lucrative dividends and earnings in times to come.
Highlights of Mumias Sugar Company Ltd in 2021
Mumias Sugar Company Ltd had no dealings in 2021. The last trading day was on October 15, 2019. The year started with a share price of 0.58 KES, but then recorded a loss of 50% in value on its price valuation, then ranking 59th on the NSE where year-to-date performance was concerned.
Mumias Sugar Company Ltd then rated 11th on the NSE and it had experienced a total trading volume of more than 10.4 million shares, which were finalized in 1,189 deals and were valued at a total of 3.5 million KES over three months, with an average of 4,056 shares in each trading session.
The highest volume shares traded on one single day was 755,900.
How to buy Mumias Sugar Company Ltd stocks – Step by Step
The stock market is one of the most attractive financial markets that sees millions of retail investors and traders' participation daily. To buy, sell or trade Mumias Sugar Company Ltd stocks, traders and investors can follow a few simple steps:
- Find the share that you want to buy, in this case, “MSC”.
- Select a forex broker that offers access to the Nairobi Securities Exchange (NSE).
- Review the broker's trading conditions, fees, deposit and withdrawal methods, trading platform, customer support, regulation, and other components to ensure that they are aligned with your trading plan.
- Open a live trading account with the broker by completing the online application form and providing the necessary documentation to verify the trading account.
- You are now ready to make your first share purchase through the broker.
- You can further start to build and diversify your portfolio by buying more shares.
Traders should however take note that it is not recommended to trade in MSC shares at present.