Most people usually lack the discipline to stick to a diet or to go to the gym three times a week.

One of the key technical differences between the forex markets is the way currencies are quoted. In the forwards or futures markets, foreign exchange always is quoted against the U.S. dollar. This means that pricing is done in terms of how many U.S. dollars are needed to buy one unit of the other currency. Remember that in the spot market some currencies are quoted against the U.S. dollar, while for others, the U.S. dollar is being quoted against them. As such, the forwards/futures market and the spot market quotes will not always be parallel one another. For example, in the spot market, the British pound is quoted against the U.S. dollar as GBP/USD. This is the same way it would be quoted in the forwards and futures markets. Thus, when the British pound strengthens against the U.S. dollar in the spot market, it will also rise in the forwards and futures markets. On the other hand, when looking at the exchange rate for the U.S. dollar and the Japanese yen, the former is quoted against the latter. In the spot market, the quote would be 115 for example, which means that one U.S. dollar would buy 115 Japanese yen. In the futures market, it would be quoted as (1/115) or .0087, which means that 1 Japanese yen would buy .0087 U.S. dollars. As such, a rise in the USD/JPY spot rate would equate to a decline in the JPY futures rate because the U.S. dollar would have strengthened against the Japanese yen and therefore one Japanese yen would buy less U.S. dollars.

The group has reported sustained revenue and operating income growth over the review period, with revenue rising by a five-year CAGR of 14% to reach KES51.6bn in F15 and operating income rising by a CAGR of 26% to KES2.2bn. However, profits have been heavily eroded by rising interest charges, associated with the large quantum of debt that has been used to fund growth. Thus, operating profit of KES2.2bn in F14 and F15 equated to net interest cover of 1.2x in both years, compared to 1.8x in F13. Moreover, NPBT has decreased from KES823m in F13 to KES305m in F15.