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Access Kenya FY2010 results a LOSS?
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Wa_ithaka
#41 Posted : Thursday, March 24, 2011 7:34:30 AM
Rank: Veteran


Joined: 1/7/2010
Posts: 1,279
Location: nbi
Thanks to Safcom, the Odieros that own AK will have to stick around for a bit longer.
Its worth a buy below ksh5 because somebody will surely be tempted at that price
The Governor of Nyeri - 2017
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mlennyma
#42 Posted : Thursday, March 24, 2011 8:51:33 AM
Rank: Elder


Joined: 7/21/2010
Posts: 6,184
Location: nairobi
Iam a buyer today to average my deep cuts.
"Don't let the fear of losing be greater than the excitement of winning."
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mkonomtupu
#43 Posted : Thursday, March 24, 2011 8:56:15 AM
Rank: Veteran


Joined: 2/10/2010
Posts: 1,001
Location: River Road
mlennyma wrote:
Iam a buyer today to average my deep cuts.


Just let it go. once you are in a hole stop digging. Cut your losses
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ProverB
#44 Posted : Thursday, March 24, 2011 9:00:23 AM
Rank: Veteran


Joined: 3/12/2010
Posts: 1,199
Location: Eastlander
mlennyma wrote:
Iam a buyer today to average my deep cuts.


wait a while longer. Patience is good..the lower the price..the more difficult it is to sell..to sell means actualizing SERIOUS losses..meaning the lower it goes..the less the supply up to a point supply at lower prices is wiped out..then the only way is up..until supply picks again.
Negativism on the counter could actually be a good thing..being greedy when everyone else is fearful..give it a while.. Access ain't dead yet..may be less dead than olympia and sameer..definately eveready is dead..
Give it awhile..and then buy.. not now..
..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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Renegade
#45 Posted : Thursday, March 24, 2011 9:05:39 AM
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Joined: 4/18/2009
Posts: 118
I am also a buyer at the right price i.e. at a price no one will think of selling!
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mlennyma
#46 Posted : Thursday, March 24, 2011 9:09:25 AM
Rank: Elder


Joined: 7/21/2010
Posts: 6,184
Location: nairobi
Am hearing you.anybody selling ak below 10 is a loser,so let me put some in my pocket and wait,i tried a good bunch jana at 8 but i got nothing.all i needed is to hear the somens confirming the availability of the company coz i thot they died.
"Don't let the fear of losing be greater than the excitement of winning."
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KulaRaha
#47 Posted : Thursday, March 24, 2011 9:22:35 AM
Rank: Elder


Joined: 7/26/2007
Posts: 6,514
mkonomtupu wrote:
mlennyma wrote:
Iam a buyer today to average my deep cuts.


Just let it go. once you are in a hole stop digging. Cut your losses


I agree, averaging down on this one is like going for a buffet of cowdung and asking for a bigger plate.
Business opportunities are like buses,there's always another one coming
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the deal
#48 Posted : Thursday, March 24, 2011 9:41:28 AM
Rank: Elder


Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
woooi the tenacity of AK shareholders amaze me...if no takeover comes along AK will die...look how their turnover is declining...signaling that even if they cut costs compe will butcher them...
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Impunity
#49 Posted : Thursday, March 24, 2011 9:43:14 AM
Rank: Elder


Joined: 3/2/2009
Posts: 26,328
Location: Masada
BUY BUY BUY BUY
Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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KulaRaha
#50 Posted : Thursday, March 24, 2011 9:47:54 AM
Rank: Elder


Joined: 7/26/2007
Posts: 6,514
Impunity wrote:
BUY BUY BUY BUY


then

CRY CRY CRY CRY CRY CRY CRY CRY
Sad
Business opportunities are like buses,there's always another one coming
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For Sport
#51 Posted : Thursday, March 24, 2011 9:56:33 AM
Rank: Veteran


Joined: 12/23/2010
Posts: 1,229
Cde Monomotapa wrote:
May=1Kg, Might=6Kg, Shall=10Kg


d'oh! .................in english? please?
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ecstacy
#52 Posted : Thursday, March 24, 2011 10:04:25 AM
Rank: Elder


Joined: 2/26/2008
Posts: 4,449
KulaRaha wrote:
Impunity wrote:
BUY BUY BUY BUY


then

CRY CRY CRY CRY CRY CRY CRY CRY
Sad

LMAO!
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ProverB
#53 Posted : Thursday, March 24, 2011 10:07:32 AM
Rank: Veteran


Joined: 3/12/2010
Posts: 1,199
Location: Eastlander
mlennyma wrote:
Am hearing you.anybody selling ak below 10 is a loser,so let me put some in my pocket and wait,i tried a good bunch jana at 8 but i got nothing.all i needed is to hear the somens confirming the availability of the company coz i thot they died.


which loser do you mean?
a. One that fails to win: the losers of the game.
b. One who takes loss in a specified way: a graceful loser; a poor loser.
c. One that fails consistently, especially a person with bad luck or poor skills
d. One that is bad in quality: That book is a real loser.

my context of loser in my post is limited actualizing your capital loss by selling off Access at prices close to 80% off buying price..

prudence of cutting losses is capped at average 12%...since its recoverable through other trade actions

Essence of cost average is when price dip is not backed by fundamentals..but in case of Access..it price dip is a serious reflect of Access as a player in a rapidly changing market..
nothing at all justifies cost averaging..
this counter is becoming increasingly a penny stock on the premise of serious speculators..some local version of spot trade..and a hefty risk threshold.
..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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Cde Monomotapa
#54 Posted : Thursday, March 24, 2011 10:33:54 AM
Rank: Chief


Joined: 1/13/2011
Posts: 5,964
For Sport wrote:
Cde Monomotapa wrote:
May=1Kg, Might=6Kg, Shall=10Kg


d'oh! .................in english? please?

In your opinion AK may or might or shall make you money? smile choose one as u make a buy/sell decision.
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Magnetic Touch
#55 Posted : Thursday, March 24, 2011 10:37:26 AM
Rank: Member


Joined: 12/31/2008
Posts: 90
Cde Monomotapa wrote:
For Sport wrote:
Cde Monomotapa wrote:
May=1Kg, Might=6Kg, Shall=10Kg


d'oh! .................in english? please?

In your opinion AK may or might or shall make you money? smile choose one as u make a buy/sell decision.


You should add Will Not and give it a weight of 50 Kg, which I will vote for.
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muganda
#56 Posted : Thursday, March 24, 2011 11:06:06 AM
Rank: Elder


Joined: 9/15/2006
Posts: 3,905
Okay so finally, I see the results http://www.accesskenya.com/docs...nya_consolidated2011.pdf:

Hmmmn:
-Turnover goes down a mere 17%
-Gross profit up 16% due to increase in gross margin to 68%
-Net net IT services business was not the drain

But admin expenses go up 30%????
So this is the culprit, and surely they needed to provide a note so we understand better.

For 150m I see staff up 50% depreciation up 100%, but what about the other 150m?
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KulaRaha
#57 Posted : Thursday, March 24, 2011 11:18:25 AM
Rank: Elder


Joined: 7/26/2007
Posts: 6,514
muganda wrote:
Okay so finally, I see the results http://www.accesskenya.com/docs...nya_consolidated2011.pdf:

Hmmmn:
-Turnover goes down a mere 17%
-Gross profit up 16% due to increase in gross margin to 68%
-Net net IT services business was not the drain

But admin expenses go up 30%????
So this is the culprit, and surely they needed to provide a note so we understand better.

For 150m I see staff up 50% depreciation up 100%, but what about the other 150m?




You really think that gross profit of 68% is sustainable?

I have yet to meet and Access customer who likes his provider.
Business opportunities are like buses,there's always another one coming
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muganda
#58 Posted : Thursday, March 24, 2011 11:22:26 AM
Rank: Elder


Joined: 9/15/2006
Posts: 3,905
Apologies for my earlier erroneous post - I blame it on the SHOCK! I now see the article was for year 2009 results.

Looking back, it was the harbinger of bad fortune - Decline in 2009, Loss in 2010.

muganda wrote:
Lo! kweli sad, even their new site has done away with financial reports section. Profit decline over 30%.

Trying to find report but can't get full schedule of results. With a dividend of 0.30 perhaps dividend ratio may appeal to some?

http://www.capitalfm.co.ke/busi...a-profit-drops-3977.html
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The Merchant
#59 Posted : Thursday, March 24, 2011 11:24:02 AM
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Joined: 5/24/2010
Posts: 846
Location: KENYA
If you own this stock do not buy anymore. This is the text book definition of a junk stock! Selling to cut your losses is upto you...
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muganda
#60 Posted : Thursday, March 24, 2011 11:24:53 AM
Rank: Elder


Joined: 9/15/2006
Posts: 3,905
KulaRaha wrote:
You really think that gross profit of 68% is sustainable?

I have yet to meet and Access customer who likes his provider.


Good point @KulaRaha, but nevertheless I believe results show poor financial management, because customer metrics/gross profit/IT service business are up.
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