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Unga Financial report
Rank: Elder Joined: 9/12/2006 Posts: 1,554
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Vvs when should we expect, Ungas report? any ideas
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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Jamani wrote:Vvs when should we expect, Ungas report? any ideas The GMO version ama?
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Rank: Elder Joined: 9/12/2006 Posts: 1,554
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Cde Monomotapa wrote:Jamani wrote:Vvs when should we expect, Ungas report? any ideas The GMO version ama? The end year financial version, the one that says how the firm performed in the last 12 months.
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Rank: Member Joined: 7/12/2011 Posts: 194
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Last year they announced on September 30th. Here is what dyer and blair had to say of the half year performance: Unga Group Limited announced a 54% jump in pre-tax profits to kshs 147 million. Turnover in the six months to Dec 31, rose to kshs 6.3 billion from kshs 6.2 billion, while operating profit jumped to kshs 357 million from kshs 212 million driven by efficiency in production and distribution. Net profit grew by 46% to kshs 147 million. Significant rise in raw material prices witnessed in the first half of the year, is expected to increase further through the remainder of the financial year. The impact of this is expected to be reduced volumes and margins due to the inability of the market to fully absorb the resulting cost increases.
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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Jamani wrote:Cde Monomotapa wrote:Jamani wrote:Vvs when should we expect, Ungas report? any ideas The GMO version ama? The end year financial version, the one that says how the firm performed in the last 12 months. 
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Rank: Elder Joined: 9/12/2006 Posts: 1,554
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kenyainvestor wrote:Last year they announced on September 30th. Here is what dyer and blair had to say of the half year performance: Unga Group Limited announced a 54% jump in pre-tax profits to kshs 147 million. Turnover in the six months to Dec 31, rose to kshs 6.3 billion from kshs 6.2 billion, while operating profit jumped to kshs 357 million from kshs 212 million driven by efficiency in production and distribution. Net profit grew by 46% to kshs 147 million. Significant rise in raw material prices witnessed in the first half of the year, is expected to increase further through the remainder of the financial year. The impact of this is expected to be reduced volumes and margins due to the inability of the market to fully absorb the resulting cost increases. Thanks Kenyainvestor for the insight and dates, as I look forward to the financial report
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Rank: Chief Joined: 1/3/2007 Posts: 18,224 Location: Nairobi
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Pole... I was sort off offline for the past few days... I expect the results for FY 2010-11 (Yr End 30 June) by 30th Sep 2011 though bad news is often delayed! Unfortunately for any firm dealing in 'consumables' reporting good profits is a 'problem' e.g. KPLC, KK, etc Why? Folks think high profits is a sign of a rip-off even if the profits simply match inflation or ROE matches banks lending rates! I always try to read further into the results i.e. has the firm 'hidden' profits in other parts of the Balance Sheet? Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 9/12/2006 Posts: 1,554
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VituVingiSana wrote:Pole... I was sort off offline for the past few days...
I expect the results for FY 2010-11 (Yr End 30 June) by 30th Sep 2011 though bad news is often delayed!
Unfortunately for any firm dealing in 'consumables' reporting good profits is a 'problem' e.g. KPLC, KK, etc
Why? Folks think high profits is a sign of a rip-off even if the profits simply match inflation or ROE matches banks lending rates!
I always try to read further into the results i.e. has the firm 'hidden' profits in other parts of the Balance Sheet? Thanks for your input, i agree it is highly possibly profits will be hidden to avoid the rip-off sentiments... looking forward to read the report
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Rank: Chief Joined: 1/3/2007 Posts: 18,224 Location: Nairobi
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Unfortunately 1/2 year reports are very shallow... I believe Unga reduced its loans considerably in FY 2011 thus the higher interest costs will not affect them (except for the Working Capital needs)... Since the major competitors are private, it is difficult to figure out what others' profits are... Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 6/2/2011 Posts: 4,818 Location: -1.2107, 36.8831
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and this rip-off language you have introduced now, could it be the source of all safcon problems? they started with alot of billions, everyone was in arms! RIP-OFF, thats true! Receive with simplicity everything that happens to you.” ― Rashi
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Rank: Chief Joined: 1/3/2007 Posts: 18,224 Location: Nairobi
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@dunkang - SafCon... yes! Why? 1) They had a sort of monopoly since it was favored [only 2 licensees & both were political] - SafCon had mobitelea (owners considered to be moi & cronies) which wanted to maximize profits. - Celtel was 60% owned by merali (a front for moi & friends) - Many say that mobitelea paid off folks in NARC government too. 2) The 3rd operator was frustrated - Econet - which could have upset the other 2 entities. Unlike firms which face a lot of competition (or competitors) like: - Unga (which is in the top 5 but I doubt the largest Miller in Kenya) - KenolKobil (there are numerous competitors including Total, Shell, OilLibya/Mobil, NOCK) The banks have a unique position. It is a sort of Oligopoly where competition is not on price but on service, offerings & innovation. The price is almost the same everywhere. Kenyans need to shift from larger banks to smaller banks to break the monopoly BBk, SCBK, etc had. I like that Equity Bank has gone from a small bank to a large bank. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 9/12/2006 Posts: 1,554
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VituVingiSana wrote:@dunkang - SafCon... yes! Why?
Kenyans need to shift from larger banks to smaller banks to break the monopoly BBk, SCBK, etc had.
I like that Equity Bank has gone from a small bank to a large bank. VVS for interest sake would you put your serious money in Equity?
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Rank: Chief Joined: 1/3/2007 Posts: 18,224 Location: Nairobi
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Jamani wrote:VituVingiSana wrote:@dunkang - SafCon... yes! Why?
Kenyans need to shift from larger banks to smaller banks to break the monopoly BBk, SCBK, etc had.
I like that Equity Bank has gone from a small bank to a large bank. VVS for interest sake would you put your serious money in Equity? My 'problem' is lack of cash not opportunities. 1) I think Equity will drop in price coz the NPAs will rise & profit growth will suffer in 2011 BUT I will get in once the price looks enticing. 2) I see constraints in 2012 (elections) but I have seen their growth in EAC. They will expand RAPIDLY outside Kenya. Kenya profits will stop growing (huge) in 2013 but the subsidiaries will take over. 3) In Kenya any (significant) profit growth will be due to cost-cutting. 4) Management is voracious. They use the best technology. Push boundaries. Love it! Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 9/12/2006 Posts: 1,554
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VituVingiSana wrote:Jamani wrote:VituVingiSana wrote:@dunkang - SafCon... yes! Why?
Kenyans need to shift from larger banks to smaller banks to break the monopoly BBk, SCBK, etc had.
I like that Equity Bank has gone from a small bank to a large bank. VVS for interest sake would you put your serious money in Equity? My 'problem' is lack of cash not opportunities. 1) I think Equity will drop in price coz the NPAs will rise & profit growth will suffer in 2011 BUT I will get in once the price looks enticing. 2) I see constraints in 2012 (elections) but I have seen their growth in EAC. They will expand RAPIDLY outside Kenya. Kenya profits will stop growing (huge) in 2013 but the subsidiaries will take over. 3) In Kenya any (significant) profit growth will be due to cost-cutting. 4) Management is voracious. They use the best technology. Push boundaries. Love it! Thanks, though my question was different i guess i wasnt clear, i meant would you bank with Equity, but the insight you have shed about investing into it is so good.... i like it
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Rank: Chief Joined: 1/3/2007 Posts: 18,224 Location: Nairobi
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@Jamani - Ironically, I do not bank with Equity. Why? Not the bank for me. I need more flexibility & personal service which I think Equity cannot provide at the moment. I may be wrong. Nevertheless, I know folks who swear by them coz of flexibility. What I have seen are products which I wish my bank had!!! Also the huge number of ATMs & branches... and now agents! Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 9/12/2006 Posts: 1,554
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VituVingiSana wrote:@Jamani - Ironically, I do not bank with Equity. Why? Not the bank for me. I need more flexibility & personal service which I think Equity cannot provide at the moment. I may be wrong.
Nevertheless, I know folks who swear by them coz of flexibility. What I have seen are products which I wish my bank had!!! Also the huge number of ATMs & branches... and now agents! I thought so..... back to Unga i just hope they pull something out in the next 2 years, i have been stuck in there with over 100k shares
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Rank: Elder Joined: 9/12/2006 Posts: 1,554
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VituVingiSana wrote:Pole... I was sort off offline for the past few days...
I expect the results for FY 2010-11 (Yr End 30 June) by 30th Sep 2011 though bad news is often delayed!
Unfortunately for any firm dealing in 'consumables' reporting good profits is a 'problem' e.g. KPLC, KK, etc
Why? Folks think high profits is a sign of a rip-off even if the profits simply match inflation or ROE matches banks lending rates!
I always try to read further into the results i.e. has the firm 'hidden' profits in other parts of the Balance Sheet? The D-day is just hours away lets see whats in the books....
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Rank: User Joined: 8/29/2011 Posts: 1,045 Location: Mtaani
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who still buys this company ..lol
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Rank: Elder Joined: 9/12/2006 Posts: 1,554
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QW25081985 wrote:who still buys this company ..lol I do And am told, that they have reported a surge in profits by 80% and a DPS of 0.75/-( I havent seen the report )
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Rank: Elder Joined: 9/12/2006 Posts: 1,554
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Jamani wrote:QW25081985 wrote:who still buys this company ..lol I do And am told, that they have reported a surge in profits by 80% and a DPS of 0.75/-( I havent seen the report ) Anyone seen the report?....please post a link
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