As promised here it is, Transcentury 2010
With tentacles deep into the industrial annals of east, central and southern industrial sectors, Transcentury, despite much controversy managed to pull off quite a performance for year 2010.
Despite their cables outfit in Tanzania stuttering,
Main agenda at the AGM was the finalization of requirements for listing by passing a hoard of special resolutions affecting share ownership, directorship and dividend payment by electronic means.
Performance for 2010:
Revenues-6.7 billion
Net profits-462 million (Dealing in capital intensive goods, the costs sure chewed up the revenues).
EPS- 1.29 (2009-0.34)
Dividend- 0.20 Ksh (2009-0.05 ksh)
NAV- 19.92 Ksh
Liquidity ratio- 1.5-something
Debt ratio-1.5-something
The market for connectivity to electricity continues to be an exciting one for TransCentury, given Africa continues to exhibit low levels of electricity access, a situation which is compounded by the continually growing populations.
The railway business is expected to perform strongly over the near and medium term given the significant demand for cargo logistics in the region, given The Mombasa Port cargo, which is a key driver of volumes for the railway has grown from 13 MT in 2004 to 19 MT as at June 2010 and Natural competitive advantage for homogeneous point-to-point cargoes such as containers, grains, edible oils, fuel oils and natural resources
The specialized engineering division reported a 82% increase in sales to KSh 411 million and EBIT of KSh 65 million in 2010, driven by:
• Continued industrial growth in the regional economies, resulting in increased capital investments
• Focus by the client base on their respective core businesses, resulting in a preference to out-source as much as practicable, leading to increased revenue opportunities for the division. An example is the launch of the operations and maintenance contracting business.
• Geographical expansion of the business, with the division opening operations in Tanzania and Uganda