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Profit Warnings Issued in 2025 – Key Highlights

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On January 11, 2026
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In 2025, a total of eight listed companies on the Nairobi Securities Exchange issued profit warnings, compared to nine in 2024 and fifteen in 2023.

Under Kenyan capital markets regulations, listed companies are required to issue a profit warning when they expect earnings to decline by more than 25.0% year-on-year, ensuring timely disclosure and investor protection.

The profit warnings issued in 2025 were largely driven by a combination of commodity price pressures, currency effects, one-off costs, and structural or operational challenges.

Companies That Issued Profit Warnings in 2025

CompanyFinancial Year EndExpected Earnings DeclineKey Drivers
Williamson Tea Kenya Plc31 March 2025More than 25%Depressed global tea prices due to oversupply and a stronger Kenyan Shilling, which reduced export revenues and pressured margins
Centum Investment Company Plc31 March 2025Not specifiedLower fair-value gains on investment properties compared to the prior year
Kapchorua Tea Company Plc31 March 2025More than 25%Prolonged low global tea prices and adverse currency movements impacting export earnings
WPP Scangroup Plc31 December 2025At least 25%Weaker client spending, loss of a major account, reduced interest income, and restructuring costs
TPS Eastern Africa Plc31 December 2025Not specifiedAbsence of foreign exchange gains recorded in 2024, softer regional travel demand, and higher receivables provisions under IFRS 9
Kenya Airways Plc31 December 2025At least 25%Grounded aircraft, lower passenger volumes, and constrained operations due to ongoing operational challenges
Standard Chartered Bank Kenya Plc31 December 2025At least 25%One-off pension tribunal settlement and lower foreign exchange income
Umeme Limited30 June 2025Not specifiedExpiry of its 20-year electricity distribution concession, resulting in cessation of revenue and higher amortisation charges

Investment Takeaway

The lower number of profit warnings in 2025 compared to previous years suggests gradual normalization of operating conditions, supported by easing inflation and currency stability. However, sector-specific risks—particularly in agriculture, aviation, hospitality, and financial services—remain key considerations for investors when assessing earnings sustainability.

Newer Kenya Fixed Income Market Review | 9th January 2026
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