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Anticipation of KCB Q1 results 2011
Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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OMG how did those KCB accountants cook up an EPS of 2.41 from 1.7B profits....yet 7.7B gives EPS of 2.76..^^^^^^
...how many issued shares does KCB have?
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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the deal wrote:OMG how did those KCB accountants cook up an EPS of 2.41 from 1.7B profits....yet 7.7B gives EPS of 2.76..^^^^^^
...how many issued shares does KCB have? 2.95B shares. Never quite been a fan of annualizing earnings but hey! Let's see what Mr. Market thinks of this.
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Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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Cde Monomotapa wrote:the deal wrote:OMG how did those KCB accountants cook up an EPS of 2.41 from 1.7B profits....yet 7.7B gives EPS of 2.76..^^^^^^
...how many issued shares does KCB have? 2.95B shares. Never quite been a fan of annualizing earnings but hey! Let's see what Mr. Market thinks of this. No wonder @guru is queit...nothing exciting in terms of EPS...the Rights Issue dilution is haunting us.
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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the deal wrote:Cde Monomotapa wrote:the deal wrote:OMG how did those KCB accountants cook up an EPS of 2.41 from 1.7B profits....yet 7.7B gives EPS of 2.76..^^^^^^
...how many issued shares does KCB have? 2.95B shares. Never quite been a fan of annualizing earnings but hey! Let's see what Mr. Market thinks of this. No wonder @guru is queit...nothing exciting in terms of EPS...the Rights Issue dilution is haunting us. I wouldn't say that when EBL has 3.6B shares.
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Rank: Veteran Joined: 8/16/2009 Posts: 994
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Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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KCB Bank 1Q Earnings Analysis 2011 vs 2010 (Billion Ksh) Total Interest Income 5.7 vs 5 Total Interest Expenses 1.1 vs 0.5 Net Interest Income 5.1 vs 3.1 Total Non Interest Income 2.8 vs 2.6 Profit Before Tax 2.5 vs 1.9 Profit After Tax 1.7 vs 1.3 EPS 0.65 vs 0.50 Commentary Good organic growth as the whole regional business turned profitable. Courtesy of http://contrarianinvesti...-earnings-analysis.html your no1 financial blog
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Rank: Veteran Joined: 2/10/2010 Posts: 1,001 Location: River Road
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So it seems KCB used the rights to retire the expensive deposits in the last quarter. I think the aggressive marketing of the loans and the mortgage division will give them better interest income during the year and also the regional subsidiaries are now well capitalized and profitable. KCB is still on course and i will wait for my investment horizon of 3 years.
anyway MOO a balance sheet of 271b to generate only 2.5b, you need to work harder to match your words at mindspeak
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Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa
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deal, QW is quiet because guru is not done with him yet. The Friends of QW Network (FoQN) reported that he was seen yesterday at JKIA at around 6.36 p.m boarding a KQ-258R flight to Kampala, Uganda. FoQN also told major local daily Wazua Leo that QW was not his usual jubbly self. He was also sporting some high heels and lipstick. It is not known when he will return. Both QW and guru267 (poularly known as Mistress Guru due to her harsh and unforgiving nature) could not be reached for comment by the time of going to press as their phones were off. GOD BLESS YOUR LIFE
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Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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Rank: Elder Joined: 7/11/2010 Posts: 5,040
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youcan'tstopusnow wrote:deal, QW is quiet because guru is not done with him yet. The Friends of QW Network (FoQN) reported that he was seen yesterday at JKIA at around 6.36 p.m boarding a KQ-258R flight to Kampala, Uganda. FoQN also told major local daily Wazua Leo that QW was not his usual jubbly self. He was also sporting some high heels and lipstick. It is not known when he will return. Both QW and guru267 (poularly known as Mistress Guru due to her harsh and unforgiving nature) could not be reached for comment by the time of going to press as their phones were off.  . nice one, now wait for the backlash. i hope whips and chains excite him, otherwise its gonna be rough on QW. The investor's chief problem - and even his worst enemy - is likely to be himself
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Rank: Member Joined: 6/9/2009 Posts: 85
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the deal wrote:OMG how did those KCB accountants cook up an EPS of 2.41 from 1.7B profits....yet 7.7B gives EPS of 2.76..^^^^^^
...how many issued shares does KCB have? The annualized EPS of 2.41 is correct. The problem is the EPS for last year (2010) results. It should have been 2.43 (7,177,973,000/2,950,259,818), instead of 2.76. To make the matter worse, NSE has been using the bank EPS of 3.40 (instead of the group 2.43) in their weekly reporting and this has created a wrong impression that KCB has a low PE - 7.4 instead of 10.4 based on share price of 25.
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Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa
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Omega, the 2.76 EPS for FY2010 was correct. You can't use 2.95 billion shares as they were not all available from Jan 1st 2010 (The beginning of KCB's financial) The additional shares from the rights came in the middle of the year. You have to take that into account GOD BLESS YOUR LIFE
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Rank: Member Joined: 6/9/2009 Posts: 85
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youcan'tstopusnow wrote:Omega, the 2.76 EPS for FY2010 was correct. You can't use 2.95 billion shares as they were not all available from Jan 1st 2010 (The beginning of KCB's financial) The additional shares from the rights came in the middle of the year. You have to take that into account Total number of issued and fully paid up shares before the Rights Issue was 2,217,777,777. So, even if you use the shares before the rights issue, that makes the EPS 3.24 (7,177,973,000/2,217,777,777), not 2.76. So, how was 2.76 arrived at and why is NSE using 3.40?
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Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa
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omega, I was not suggesting using 2.217 billion shares. I was suggesting using a mean (not exactly the word I'm looking for) of the period each amount of shares was at the market. This phenomenon was explained here before by some Wazuan. Gordon Gekko was it you? GOD BLESS YOUR LIFE
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Rank: Elder Joined: 3/2/2009 Posts: 26,330 Location: Masada
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Wil it LAORRR to KES. 30 by close of business this Friday? Today it was hovering around 26.25/26.50 Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Elder Joined: 5/27/2008 Posts: 3,760
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@ycsun, you are right. It is the weighted average number of shares that is used to calculate diluted eps - weighted by time and amount. @omega, CPA Part III Section 6, a very painful class nowadays called Financial Reporting, previously known as FA IV.
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Rank: Veteran Joined: 5/24/2010 Posts: 846 Location: KENYA
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Traders/speculators...sell KCB today, buy next week.
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