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HFCK HY 2011 results
Rank: Elder Joined: 7/21/2010 Posts: 6,192 Location: nairobi
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@cnn,agreed and case settled. "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Veteran Joined: 3/25/2011 Posts: 946
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Sufficiently Philanga....thropic wrote:Soo in love with its forward PE of 9.76 at today's closing price of 20.50!
Not so sure whether we will see that price again till August!
And yes, the dividend check will come just in time for christmas! market irrationality staring at you. what will you do ???
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Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa
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QW25071985 wrote:Sufficiently Philanga....thropic wrote:Soo in love with its forward PE of 9.76 at today's closing price of 20.50!
Not so sure whether we will see that price again till August!
And yes, the dividend check will come just in time for christmas! market irrationality staring at you. what will you do ??? If its PE you are ONLY interested in, Centum's trailing PE and KK's forward PE should interest you more then... GOD BLESS YOUR LIFE
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Rank: Elder Joined: 9/23/2010 Posts: 2,221 Location: Sundowner,Amboseli
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youcan'tstopusnow wrote:QW25071985 wrote:Sufficiently Philanga....thropic wrote:Soo in love with its forward PE of 9.76 at today's closing price of 20.50!
Not so sure whether we will see that price again till August!
And yes, the dividend check will come just in time for christmas! market irrationality staring at you. what will you do ??? If its PE you are ONLY interested in, Centum's trailing PE and KK's forward PE should interest you more then... cant agree more. We r staring at Great picks. really spoilt for choice! @SufficientlyP
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Rank: Veteran Joined: 4/30/2010 Posts: 1,635
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This share is very cheap currently...Since it has declared an interim of 50 cts it might declare a final dividend of 50 cts or more.
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Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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Commentary Impressive numbers from Housing Finance, my only worry is the cost to income ratio which now stand at 66.6%, which i think is the highest in the financial sector, management need to do more in cutting those costs, also contribution of non interest income to total operating income is paltry but going forward i believe Housing finance will do well, they are set to launch a new innovative product where home owners will be required to pay fixed interest on their mortgage for 5 years, i think the product is a game changer and will revolutionize the Kenyan housing sector which is characterized by low penetrations, at a trailing PE of 10 i rate the stock a BUY if one factors in the growth momentum Read more here http://www.contrarianinv...1-earnings-analysis.html
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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NB: BBK & SCBK also have fxd rate mortgages in the market.
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Rank: Veteran Joined: 4/30/2010 Posts: 1,635
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I am wondering how come there are no much changes in the price today. It has only risen by 50cts today.
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Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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FUNKY wrote:I am wondering how come there are no much changes in the price today. It has only risen by 50cts today. Simply there is NO demand to drive the share up...Beeeeeaaaaar.... 
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Rank: Elder Joined: 6/2/2008 Posts: 1,438
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FUNKY wrote:I am wondering how come there are no much changes in the price today. It has only risen by 50cts today. Good result but the market no longer responds to the results. If you are in the share long term, no worries. The fundamentals are improving but you have to be patient on the share price. It may take some (long) time before it moves back up. Hope you have the stomach for it.
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Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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The 67% cost to income ratio just puts me off on HF...the company is becoming too ineffient I.e Off the Sh1B operating income 70% of it was eaten by costs (Sh697M)...Something must happen there...
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Rank: Veteran Joined: 4/30/2010 Posts: 1,635
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@ the deal- Is the interest cost of the bond also included in the 697M?
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Rank: Elder Joined: 10/13/2009 Posts: 1,950 Location: in kenya
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@funky It should be included, because how else can we explain other interest expenses being more than customer deposit interest expenses. That bond is definitely inflating cost of expenses '......to the acknowledgment of the mystery of God, and of the Father, and of Christ; 3 In whom are hid all the treasures of wisdom and knowledge.' Colossians 2:2-3
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Rank: Veteran Joined: 4/30/2010 Posts: 1,635
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@ selah - EXACTLY..that was my point...the cost to income ratio is currently high becuase of the bond interest payments. Once the bond is cleare this share will really appreciate.
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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FUNKY wrote:@ selah - EXACTLY..that was my point...the cost to income ratio is currently high becuase of the bond interest payments. Once the bond is cleare this share will really appreciate. what was the tenure on it again? How many more years to go?
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Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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FUNKY wrote:@ the deal- Is the interest cost of the bond also included in the 697M? Hapana the interest on the bond is accounted for under interest expense on the income statement...what are this other operating expenses? Have you been the MD's office? Maybe they serve wine instead of water  me and @VVS will be regulars there
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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the deal wrote:FUNKY wrote:@ the deal- Is the interest cost of the bond also included in the 697M? Hapana the interest on the bond is accounted for under interest expense on the income statement... @Funky and @the deal, you are reading from the same page and i think @the deal should just replace the 'hapana' with 'ndio'. The bond interest is accounted under other interest expense of 344M and its therefore included in the total interest expense of 697M. Note that the bond is very important in a highly growing mortgage bank inorder to address assets liability mismatch. S & L have also been carrying the plan to sell a bond
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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Rank: Member Joined: 10/25/2010 Posts: 519 Location: nairobi
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These people is just abuse of office...last time I heard Serena CEOs and Mds took 6 charter flights to Elementeita...a place that you can get there even if you decide to walk!
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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lovely2010 wrote: These people is just abuse of office...last time I heard Serena CEOs and Mds took 6 charter flights to Elementeita...a place that you can get there even if you decide to walk! Watasema "time is money"
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HFCK HY 2011 results
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