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CMC posts 209.5M loss FY ended Sept 2011
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ngapat
#1 Posted : Monday, January 30, 2012 5:05:03 PM
Rank: Veteran


Joined: 12/11/2006
Posts: 902
CMC Holding posts 209.5 million shillings loss for FY ended Sept 2011 compared to 584.88 million profit in 2010.
“Invest in yourself. Your career is the engine of your wealth.”
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FUNKY
#2 Posted : Monday, January 30, 2012 5:07:51 PM
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Joined: 4/30/2010
Posts: 1,635
So no dividends this year.
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muganda
#3 Posted : Monday, January 30, 2012 5:17:23 PM
Rank: Elder


Joined: 9/15/2006
Posts: 3,906
A pity really. Some say it always gets worse before things turn, but if CMA had a stake in CMC, even they would first make sure they were trading, before...
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hisah
#4 Posted : Monday, January 30, 2012 7:04:16 PM
Rank: Chief


Joined: 8/4/2010
Posts: 8,977
When the trading resumes, the downtick bloodbath will not be funny as the exit door squeezes the sellers.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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youcan'tstopusnow
#5 Posted : Monday, January 30, 2012 7:34:40 PM
Rank: Chief


Joined: 3/24/2010
Posts: 6,779
Location: Black Africa
hisah wrote:
When the trading resumes, the downtick bloodbath will not be funny as the exit door squeezes the sellers.

With all the drama, who knows how long it will be suspended. We could be witnessing another CarbacidSad
GOD BLESS YOUR LIFE
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StatMeister
#6 Posted : Monday, January 30, 2012 7:35:09 PM
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Joined: 5/23/2010
Posts: 868
Location: La Islas Galápagos
One of the very few stocks that were up in 2011.
A bad day fishing is better than a good day at work
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StatMeister
#7 Posted : Monday, January 30, 2012 7:41:57 PM
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Joined: 5/23/2010
Posts: 868
Location: La Islas Galápagos
Am now counting companies giving profit warnings and those reporting losses ...


Extra paper please!smile
A bad day fishing is better than a good day at work
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mukiha
#8 Posted : Tuesday, January 31, 2012 8:41:18 AM
Rank: Elder


Joined: 6/27/2008
Posts: 4,114
Bill Lay promised a billion shilling profit for 2012.... I doubt if he will achieve that.

But I was more worried by the 7% drop in turnover than the 209m loss. The loss arose from the over 600m debt write-off, but the turnover drop is not justifiable; at least not to me
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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hisah
#9 Posted : Wednesday, February 01, 2012 3:54:32 AM
Rank: Chief


Joined: 8/4/2010
Posts: 8,977
In today's BD, CMA recommends prosecution of the fraudsters in this CMC saga. Let's see if the case will be similar to Uchumi's...

If indeed some fraudsters are jailed, I think NSE will grow bull horns for real...
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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FUNKY
#10 Posted : Wednesday, February 01, 2012 8:41:55 AM
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Joined: 4/30/2010
Posts: 1,635
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