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UNGA anyone?
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guru267
#541 Posted : Thursday, September 30, 2010 9:05:03 AM
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Kaffir wrote:
Results in DN (page 32). EPS up to 1.82kshs, from 1.55kshs. 29% increase in PAT, largely due to unrealized foreign exchange losses. Dividend of 0.5kshs

I can't see the info anywhere but I'll be waiting to see investors reaction during trading today to know whether or not to sell tomorow....

I can't say the results have wowed me but they are not bad at all....

They paid a dividend higher than Mumias... Laughing out loudly Laughing out loudly Laughing out loudly
Mark 12:29
Deuteronomy 4:16
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guru267
#542 Posted : Thursday, September 30, 2010 9:08:02 AM
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Kaffir wrote:
Results in DN (page 32). EPS up to 1.82kshs, from 1.55kshs. 29% increase in PAT, largely due to unrealized foreign exchange losses. Dividend of 0.5kshs

Not bad though the results will hinder the upside on the counter on P/E and dividend yield front...

But not bad... Applause
Mark 12:29
Deuteronomy 4:16
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mwanahisa
#543 Posted : Thursday, September 30, 2010 9:12:06 AM
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Jamani wrote:
alikujia wrote:
FundamentAli wrote:
A very strange one indeed. Profit hardly get to 1% of turnover yet the business runs itself without loans

mmm, is it repatriated somewhere? maybe some firms just find it hard to justify delisting.


are you saying iko creative accounting?


Looking at the results published today, we might want to really examine Unga's financials.

1.PBT has gone up by 28%.
2.Profit Attributable to ordinary shareholders is up by ONLY 9%.
WHILE,
3.Profit attributable to Minority Interests is up by a whopping 37%!!!

Why the disconnect?
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youcan'tstopusnow
#544 Posted : Thursday, September 30, 2010 9:27:53 AM
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FINALLY A DIVIDEND!
GOD BLESS YOUR LIFE
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Gatheuzi
#545 Posted : Thursday, September 30, 2010 9:50:11 AM
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@ Mwanahisa the minority interests perform better when a subsidiary records more improved bottomline than the group.

My assumption is that Ug performed better.
Time is money, so money is time. Money saved is time gained in reverse! Money stores your life’s energy. You expend your energy, get paid money, and store that money for a future purchase made in a currency.
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VituVingiSana
#546 Posted : Thursday, September 30, 2010 10:20:43 AM
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The commentary seems bullish...

They expect sales in Uganda to go up due to capacity expansion. Also there seems to be a new push in Animal Feeds...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Govmusili
#547 Posted : Thursday, September 30, 2010 10:30:39 AM
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Damn, that eps isnt bad but way lowr to wat i expectd, still expct a +ve price reaction
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VituVingiSana
#548 Posted : Thursday, September 30, 2010 10:35:07 AM
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EPS seems lower than expected but 31/- NAV...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Wa_ithaka
#549 Posted : Thursday, September 30, 2010 10:41:50 AM
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Drought on the horizon. So how much more upside here?
The Governor of Nyeri - 2017
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ProverB
#550 Posted : Thursday, September 30, 2010 10:56:55 AM
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mwanahisa wrote:

Looking at the results published today, we might want to really examine Unga's financials.

1.PBT has gone up by 28%.
2.Profit Attributable to ordinary shareholders is up by ONLY 9%.
WHILE,
3.Profit attributable to Minority Interests is up by a whopping 37%!!!


compare to interim results which were real key in justifyin price rise since Feb 2010..
Interim PBT was up more than 300% compared to similar period while Interim EPS was up over 250%

it is a fact that expectations on this counter were heavily reliant on the interim results to reflect full year results more or less by the same margins....this hasn't punned out..

Arguably..results are FINE..but in a market where some of the retail traders expected spectacular..this is likely to reflect in share price..

The dividend is a good thing though..REALLY good..considering potential drought is likely to depress earnings..ere go..share price..

@kshs12 Dividend Yield of more than 4% beats interest on savings account! smile ..the lower the price the higher the dividend yield!..

..suddenly Unga turns into an income stock! me very likey!!Drool Drool
..Let your light so shine before men, that they may see your good works, and glorify your Father which is in heaven...Matt5:16
- 1769 Oxford King James Bible 'Authorized Version
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VituVingiSana
#551 Posted : Thursday, September 30, 2010 11:00:18 AM
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Wa_ithaka wrote:
Drought on the horizon. So how much more upside here?
Maize margins were poor and will remain so...
I think wheat will do OK coz most wheat is imported but can they pass on the costs to consumers?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Wa_ithaka
#552 Posted : Thursday, September 30, 2010 11:05:38 AM
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VVS-that is my pt. You'll recall the previous drama over higher ngima prices.
The Governor of Nyeri - 2017
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the deal
#553 Posted : Thursday, September 30, 2010 12:09:18 PM
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Unga did well....PBT up 29%...EPS 1.82...They have paid a dividend of 0.5 bob....it looks like the weak Kenyan shilling ate into the EPS...going forward i expect the Shilling to strengthen against the US$...the only worrying thing is the decline in sales people are not eating Ugali...i think Unga will continue to do well...
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youcan'tstopusnow
#554 Posted : Thursday, September 30, 2010 12:15:38 PM
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But what a standoff at the market! Bids are at around 13 while asks are at 13.90. Price looks likeky to come down
GOD BLESS YOUR LIFE
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VituVingiSana
#555 Posted : Thursday, September 30, 2010 12:17:16 PM
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US$ expected to weaken... Will KES weaken too against other currencies?

I like Unga's prospects as Kenya's economy grows though the high price of wheat & maize could be a problem... I think the opening up of EAC will benefit Unga as it expands into Uganda & Rwanda...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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the deal
#556 Posted : Thursday, September 30, 2010 12:33:57 PM
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Unga always takes long positions on their wheat stocks...high wheat prices are unlikely to affect the wheat margins in the 1H...The recent waiver in maize import duties will shield Unga from the up coming drought...remember they also recently signed a deal to import millet from UG mainly for their animal feed division....coupled with the EAC market the picture is bullish....the Kenyan Shilling being the main risk....
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qw25041985
#557 Posted : Thursday, September 30, 2010 2:05:00 PM
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Seems i havd the last laugh on this issue. I told u ppl to leave this stock alone. Nobody listend . Although i dnt expect any more sell off ,the price was just screaming sell . All those who bought ugali for a quick buck u better be lickin your wonds.
So next time when i give a warnin u'll listen to me.
Your future depends on your dreams so go to sleep !
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ProverB
#558 Posted : Thursday, September 30, 2010 2:17:15 PM
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qw25041985 wrote:
Seems i havd the last laugh on this issue. I told u ppl to leave this stock alone. Nobody listend . Although i dnt expect any more sell off ,the price was just screaming sell . All those who bought ugali for a quick buck u better be lickin your wonds.
So next time when i give a warnin u'll listen to me.


hardly 2 weeks ago this was your statement..


qw25041985 wrote:
I am also bullish on ugali. I like the way supply is coming up at 14.50 and getting taken up.

( www.wazua.co.ke/forum.as...posts&t=8152&p=4 )
you can't have it both ways you know?
..Let your light so shine before men, that they may see your good works, and glorify your Father which is in heaven...Matt5:16
- 1769 Oxford King James Bible 'Authorized Version
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youcan'tstopusnow
#559 Posted : Thursday, September 30, 2010 4:29:37 PM
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Down almost 9% today. It may pull off a Mumias (3 days on the trot down) I will hold.
GOD BLESS YOUR LIFE
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FundamentAli
#560 Posted : Thursday, September 30, 2010 4:46:57 PM
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Typical market reaction I would say. Good results = dip in share price. Maybe the results were not as good as expected. Bad results = increase in share price, in this instance the bad results were better than the expected losses
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