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Gordon Gekko
#1 Posted : Friday, February 25, 2011 7:23:29 AM
Rank: Elder


Joined: 5/27/2008
Posts: 3,760
Look at the cash flow statement - they are sitting on 10B cash money!!!
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bartum
#2 Posted : Friday, February 25, 2011 7:55:24 AM
Rank: Veteran


Joined: 8/11/2010
Posts: 1,011
Location: nairobi
give us the breakdown and link, eps, growth etc forecast etc
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Cde Monomotapa
#3 Posted : Friday, February 25, 2011 8:35:31 AM
Rank: Chief


Joined: 1/13/2011
Posts: 5,964
Gordon Gekko wrote:
Look at the cash flow statement - they are sitting on 10B cash money!!!

..wacha pupa boss..keep ur shirt on..hizo ni pesa za Rights. Put up the link we have a looksie. Bet hakuna interim.
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mkonomtupu
#4 Posted : Friday, February 25, 2011 8:43:54 AM
Rank: Veteran


Joined: 2/10/2010
Posts: 1,001
Location: River Road
PBT 3.077b
PAT 2.221b compared to 1.873b
diluted dividend per share 0.35 last year 0.38 to be paid on or about 31st May
increase in elec sales up 1.535billion to 20.627. After a year that's all they can do. Very parastatal
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Cde Monomotapa
#5 Posted : Friday, February 25, 2011 8:51:43 AM
Rank: Chief


Joined: 1/13/2011
Posts: 5,964
mkonomtupu wrote:
PBT 3.077b
PAT 2.221b compared to 1.873b
diluted dividend per share 0.35 last year 0.38 to be paid on or about 31st May
increase in elec sales up 1.535billion to 20.627. After a year that's all they can do. Very parastatal

I didn't anticipate an interim with the expanded share register. Great. Hii ni bizna ya stima, consistant modest growth in profits is the mantra. Kudos.
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VituVingiSana
#6 Posted : Friday, February 25, 2011 10:02:21 AM
Rank: Chief


Joined: 1/3/2007
Posts: 18,215
Location: Nairobi
Not super but not bad either. The PAT was up 19% [I was looking for 30%] so not spectacular.

- Revenue: Up on sales of MORE units. 2H sales should be similar as new projects come online [while hydropower production drops]

- Depreciation expense is up [not sure how much] but it is not a cash issue. Helps reduce taxes.

- KShs 7bn used in investments. This is good news. It means KPLC is increasing its facilities, infrastructure, etc

I expect a better 2H since the KES 10bn will earn (some) interest while it gets deployed. If it rains [April-June] heavily then it means enough hydropower for KPLC.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Horton
#7 Posted : Friday, February 25, 2011 10:38:36 AM
Rank: Veteran


Joined: 8/30/2007
Posts: 1,558
Location: Nairobi
Anualized eps of 2.04. Pe of just over 10. Not cheap, not overpriced either. Just about right. I am buying this monopoly. Since there is more certainty here and the pref share fiasco now is water under ze bridge.
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muganda
#8 Posted : Friday, February 25, 2011 10:44:13 AM
Rank: Elder


Joined: 9/15/2006
Posts: 3,906
I see results here http://www.capitalfm.co.ke/busi...orp_downfile.php?id=5573

Looks a bit pale to me, considering the glorious shouts from Financials this week. Not much change to EPS though.

Did gains come mainly from lower fuel costs?
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VituVingiSana
#9 Posted : Friday, February 25, 2011 10:46:52 AM
Rank: Chief


Joined: 1/3/2007
Posts: 18,215
Location: Nairobi
Horton wrote:
Anualized eps of 2.04. Pe of just over 10. Not cheap, not overpriced either. Just about right. I am buying this monopoly. Since there is more certainty here and the pref share fiasco now is water under ze bridge.

Now you are the KQ expert... and you went underground...

So what is your take on the Capital Raising? What's the point of it? KQ has over 7bn in cash sitting in accounts/deposit...

The 787s do not come through until 2013 [if KQ is lucky] so the point of deposits makes no sense at the moment.

Please enlighten us!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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VituVingiSana
#10 Posted : Friday, February 25, 2011 10:51:22 AM
Rank: Chief


Joined: 1/3/2007
Posts: 18,215
Location: Nairobi
Fuel is a pass through for KPLC. Look at the 'income' vs 'expense'

The main increase was in Transmission + Distribution costs [including a huge charge for depreciation] which was up by 1.4bn (23%) which is HUGE...

The annualized EPS (@Horton) should be revised upwards. KPLC has 9bn in cash from the Rights. This will translate into interest income = EPS boost.

Of course, the cash should be deployed & I think some of it will be deployed in 2H but the benefits flow into EPS in 2012.

Critical is UNIT SALES... Can KPLC still get the same [or more] units for sale in 2H vs 1H [with the impending drought]...????
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Horton
#11 Posted : Friday, February 25, 2011 11:12:21 AM
Rank: Veteran


Joined: 8/30/2007
Posts: 1,558
Location: Nairobi
VituVingiSana wrote:
Horton wrote:
Anualized eps of 2.04. Pe of just over 10. Not cheap, not overpriced either. Just about right. I am buying this monopoly. Since there is more certainty here and the pref share fiasco now is water under ze bridge.

Now you are the KQ expert... and you went underground...

So what is your take on the Capital Raising? What's the point of it? KQ has over 7bn in cash sitting in accounts/deposit...

The 787s do not come through until 2013 [if KQ is lucky] so the point of deposits makes no sense at the moment.

Please enlighten us!


Hey dude. sorry was working hard. Yeah ive been saying this for a while. Kq do need to do a rights issue for sure. Picture this. ET have 40 sOmething airplanes but they carry the same amount of pax that Kq did last year. Kq has approx 29 airplanes. That's a cabin factor of 70% or thereabouts for KQ whereas ET is at a much lower cabin factor. That means two things, 1. KQ is more efficient than ET when it comes to filling seats. 2. Cabin factor of 70% is extremely high and th only way to go if they don't open new routes is down as costs increase everyday and just to remain par at last years profit leveLs, KQs cabin factor has to increase by about 10% to keeP up with fixed increments eg CBA requirements, inflation and that is quite hard.

The way to do it is to buy new airplanes and open new routes. And rights would be the way to go for KQ. they could also do a bond.

More on that later.
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VituVingiSana
#12 Posted : Friday, February 25, 2011 1:16:16 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,215
Location: Nairobi
@Horton - Asante... I will wait for the info... I think a Bond makes better sense coz Rights means selling shares BELOW the NAV which does not favor existing shareholders [who can't exercise the Rights]...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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guru267
#13 Posted : Monday, February 28, 2011 9:22:54 AM
Rank: Elder


Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
I'll just take the dividend and wait for the share price to follow smile
Mark 12:29
Deuteronomy 4:16
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MaichBlack
#14 Posted : Monday, February 28, 2011 9:44:15 AM
Rank: Elder


Joined: 7/22/2009
Posts: 7,561
VituVingiSana wrote:
Now you are the KQ expert... and you went underground...

So what is your take on the Capital Raising? What's the point of it? KQ has over 7bn in cash sitting in accounts/deposit...

The 787s do not come through until 2013 [if KQ is lucky] so the point of deposits makes no sense at the moment.

Please enlighten us!

KQ to raise capital to finance future growth
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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