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CFC INSURANCE 1H2011
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FUNKY
#1 Posted : Tuesday, August 30, 2011 11:02:59 AM
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Joined: 4/30/2010
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http://af.reuters.com/ar...s/idAFL5E7JU08020110830

CFC Insurance posted a surge in half year profits by 75%
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bartum
#2 Posted : Tuesday, August 30, 2011 11:11:14 AM
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FUNKY wrote:
http://af.reuters.com/article/commoditiesNews/idAFL5E7JU08020110830

CFC Insurance posted a surge in half year profits by 75%



will CIC follow suit, i hope so
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the deal
#3 Posted : Tuesday, August 30, 2011 12:11:56 PM
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Joined: 9/25/2009
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Location: Windhoek/Nairobbery
@funky cfc profits dropped...look further..they did not include FVGL in profits and loss statement like others.
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guru267
#4 Posted : Tuesday, August 30, 2011 12:18:17 PM
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If you include stock earnings CFC also made a lower profit..

Jubilee is the only one whose comprehensive income statement showed positive growth and investment income shooting up... The rest are all wannabes..

http://af.reuters.com/ar...ws/idAFJOE7720FL20110803
Mark 12:29
Deuteronomy 4:16
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the deal
#5 Posted : Tuesday, August 30, 2011 12:27:47 PM
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Location: Windhoek/Nairobbery
[quote=guru267]If you include stock earnings CFC also made a lower profit..

Jubilee is the only one whose comprehensive income statement showed positive growth and investment income shooting up... The rest are all wannabes..

http://af.reuters.com/ar...s/idAFJOE7720FL20110803[/quote]
Hapana NFVTPL (NSE holdings) for Jubilee was Sh -2M in 1H 2011 vs Sh135M in 1H 2010...i'm looking at income statement right now and you are quoting the media...
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kenyainvestor
#6 Posted : Tuesday, August 30, 2011 2:52:17 PM
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Joined: 7/12/2011
Posts: 194
guru267 wrote:
If you include stock earnings CFC also made a lower profit..

Jubilee is the only one whose comprehensive income statement showed positive growth and investment income shooting up... The rest are all wannabes..

http://af.reuters.com/ar...s/idAFJOE7720FL20110803


The group however realised a significant reduction in Total Comprehensive Income from 1.2 Billion, to a loss of 959 Million. This was blamed on a decline in the fair values of equities listed at the NSE and rising interest rates that negatively affected the valuation of the group’s investments in Government bonds

Net Premium Revenue rose an impressive 53.9% to 2.1 Billion

My feel of the results...

LINK: CFCIH HALF YEAR AFTER TAX PROFIT SURGES 73.2%
LATEST BLOG POST: NSE BANKING SECTOR REPORT - THE TOP 5
FACEBOOK: Kenya Investing
TWITTER HANDLE: @kenyainvestor
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the deal
#7 Posted : Tuesday, August 30, 2011 10:39:48 PM
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Joined: 9/25/2009
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Location: Windhoek/Nairobbery
Here is a comprehensive analysis of the CFC IH results

Top line business grew by a commendable 12% as indicated by the NPW/NPE ratio above due to the integration of Heritage Insurance which the firm acquired on 30 April 2010, operating expenses and claims on the other hand surged by 51% to stand at Sh2.9 Billion (Sh1.9 Billion-2010) while investment income was up by 55% to come in at Sh1.1 Billion buoyed by an increase in commissions earned. Operating profit excluding NFVLG was up 81% to stand at Sh441 Million (Sh252 Million) while total comprehensive income was Sh-624 Million ( Sh1.4 Billion-2010) due to the stock market down turn and rising interest rates which affected valuation of their Government bond holdings.

Read more here http://www.contrarianinv...nsive-income-tumble.html
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FUNKY
#8 Posted : Wednesday, August 31, 2011 4:27:26 PM
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@ deal - nice analysis...lets see what the price will be tomorrow.
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