AGM at KICC on Tuesday 25 June 2019 from 11am.

Dividend ofu 0.35 to be paid around 27 July 2019.

Look at the Financials:

1. Kenya still has the biggest investment contributes, most revenue.
KE remains the Big Daddy. TZ did well too.
2. EBITDA for Kenya 2017 was negative but turned positive after phase one of Serena Nairobi went live.
And should contribute more in 1H 2019 than it did in FY2018
3. Delay in completion of phase 2 Nairobi Serena led to default of debt payments to Barclays and Proparco.
Not good but both extended the loans. I wonder why they do not borrow from DTB unless these are forex loans at good rates.
4. Took overdrafts of 300m following delay in finishing Nairobi refurbishments.
5. Uganda and Kigali refurbishments were done earlier and smoothened the Kenya revenue hit.
I like the slow but steady approach to CAPEX. Don't go crazy.
5. Serena Nairobi full capacity coming on board by July 2019 in time for the peak season.
6. Conclusion - TPS managed their refurbishments well. Nairobi Serena coming on board at full capacity will improve overall profitability of the group. Profitability will improve parabolicaly by the time we hold our next general elections.

Sparkly, 2019

Does Serena have a loyalty program?

What kind of partnerships do they have with this program? Have they partnered with any airlines and banks? Are their loyalty points transferable?

I think Serena is missing out a lot on this front.