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BRITAK Prospects
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hisah
#101 Posted : Wednesday, February 15, 2012 1:10:08 PM
Rank: Chief


Joined: 8/4/2010
Posts: 8,977
So SIB expects MSC to zoom to 8/- while Britak expects the KE GDP to grow to 5.3% this year. I give up on these KE analysts d'oh!

http://www.capitalfm.co....rs-predict-5-3pc-growth/
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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guru267
#102 Posted : Thursday, February 16, 2012 6:41:49 AM
Rank: Elder


Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
Aguytrying wrote:
I'll be very surprised if britak profits fall by only around 25 percent. Infact i'll be suprised if they announce any profits. I hope wanjiku learned something here, but wait, they never learn.


They will definitely print a loss for 2011.. The NSE was down 30% and they have no other income.. Couple this with the IPO under subscription and the projects they continue to cancel..

I really feel sorry for those who own this thing even though it was their ignorance that got them into this one...
Mark 12:29
Deuteronomy 4:16
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Aguytrying
#103 Posted : Thursday, February 16, 2012 8:01:40 AM
Rank: Elder


Joined: 7/11/2010
Posts: 5,040
@guru. Very true. Nse down 30%., hfck and equity down 40-50%, at the end of 2011 compared to april 2011 valuation on prospectus. They will need a miraculous cooking job like hisah says.
The investor's chief problem - and even his worst enemy - is likely to be himself
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Wendz
#104 Posted : Thursday, February 16, 2012 12:15:19 PM
Rank: Elder


Joined: 6/19/2008
Posts: 4,268
Aguytrying wrote:
@guru. Very true. Nse down 30%., hfck and equity down 40-50%, at the end of 2011 compared to april 2011 valuation on prospectus. They will need a miraculous cooking job like hisah says.


Well, i think just relying on the books alone as an investor would not give a full picture... for example, do you expect HFCK or EB to collapse any time soon? I don't think so. So if it hits 3/- and you have money to speculate with, it would still be a good share. What i know is that their asset base is solid and their life business still doing well. To me, i think the fundamentals are still strong to buy at a discount.

I didn't buy at IPO because i felt it was overpriced, and i wasn't wrong... but as it heads south, i think it opens up a good entry point for a longterm investor.
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Fyatu
#105 Posted : Wednesday, February 29, 2012 11:45:56 AM
Rank: Veteran


Joined: 1/20/2011
Posts: 1,820
Location: Nakuru
when the NSE makes a turn-around and gains 50% (i don't know when this will happen) then those who would have bought Britank @ 3.95 - 3.00 will LMFAO-ing all the way to the ekwete bank
Dumb money becomes dumb only when it listens to smart money
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holycow
#106 Posted : Thursday, March 22, 2012 10:25:48 AM
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Joined: 11/11/2006
Posts: 972
Location: Home
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hisah
#107 Posted : Thursday, March 22, 2012 1:44:45 PM
Rank: Chief


Joined: 8/4/2010
Posts: 8,977
The Group registered unrealized losses on financial assets through the profit and loss account amounting to Kshs3.3 billion

The total unrealized losses on equities was Kshs5.5 billion

Poor stock peformance affected the Group’s financial performance resulting in a loss before tax of Kshs1.7 billion (2010: Profit Kshs2.9 billion)

And britank performs as per expectation with a huge profit reversal sub-zero and into the red deep sea of losses. Someone else can calculate the reversal of fortunes as a percentage...
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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hisah
#108 Posted : Thursday, March 22, 2012 4:02:16 PM
Rank: Chief


Joined: 8/4/2010
Posts: 8,977
http://www.businessdaily...6/-/xh596y/-/index.html

Quote:
Earlier in the year the company, which made a pretax profit of 2.7 billion shillings in 2010, warned profits would fall in 2011 by at least 25 per cent on the back of high inflation and exchange rate volatility.


Yeah, the profit dip was not down by 25%, it was a whooping reversal into loss territory. Makofi to britank for once again misrepresenting info to investors aka wanjikus. Congrats! Applause
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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mlennyma
#109 Posted : Thursday, March 22, 2012 4:11:19 PM
Rank: Elder


Joined: 7/21/2010
Posts: 6,192
Location: nairobi
Is 2bob inorder?
"Don't let the fear of losing be greater than the excitement of winning."
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FUNKY
#110 Posted : Thursday, March 22, 2012 4:47:12 PM
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Joined: 4/30/2010
Posts: 1,635
They have still declared a dividend of 0.15
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dunkang
#111 Posted : Thursday, March 22, 2012 4:58:29 PM
Rank: Elder


Joined: 6/2/2011
Posts: 4,818
Location: -1.2107, 36.8831
I NEED TO SHOOT MY BROKER!
Receive with simplicity everything that happens to you.” ― Rashi

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hisah
#112 Posted : Thursday, March 22, 2012 4:59:23 PM
Rank: Chief


Joined: 8/4/2010
Posts: 8,977
FUNKY wrote:
They have still declared a dividend of 0.15

A small miracle this compared to paka's life span... But the shareholders (mostly wanjikus) should ask tough questions during the AGM and vote down this houdini dividend payout...
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Aguytrying
#113 Posted : Thursday, March 22, 2012 6:19:33 PM
Rank: Elder


Joined: 7/11/2010
Posts: 5,040
guru267 wrote:
Aguytrying wrote:
I'll be very surprised if britak profits fall by only around 25 percent. Infact i'll be suprised if they announce any profits. I hope wanjiku learned something here, but wait, they never learn.


They will definitely print a loss for 2011.. The NSE was down 30% and they have no other income.. Couple this with the IPO under subscription and the projects they continue to cancel..

I really feel sorry for those who own this thing even though it was their ignorance that got them into this one...



We were right. and im not surprised.

The investor's chief problem - and even his worst enemy - is likely to be himself
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the deal
#114 Posted : Thursday, March 22, 2012 7:26:16 PM
Rank: Elder


Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
@hisah that's a dividend yield of 4% it's more than for the likes of coop, dtb and nic
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StatMeister
#115 Posted : Thursday, March 22, 2012 8:55:14 PM
Rank: Veteran


Joined: 5/23/2010
Posts: 868
Location: La Islas Galápagos
I wish i could short this one
A bad day fishing is better than a good day at work
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guru267
#116 Posted : Thursday, March 22, 2012 9:10:31 PM
Rank: Elder


Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
As much as I hate this company these losses are purely accounting losses still UNrealized..

Cash from operations, gross premiums, and uderwriting profits are all up..

The Cash balance of 2.8 billion is even good enough to pay a small dividend.

I dont expect the share price to crumble from these levels..
Mark 12:29
Deuteronomy 4:16
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Aguytrying
#117 Posted : Thursday, March 22, 2012 10:54:39 PM
Rank: Elder


Joined: 7/11/2010
Posts: 5,040
guru267 wrote:
As much as I hate this company these losses are purely accounting losses still UNrealized..

Cash from operations, gross premiums, and uderwriting profits are all up..

The Cash balance of 2.8 billion is even good enough to pay a small dividend.

I dont expect the share price to crumble from these levels..


Me neither.it may fall but not by much.
The investor's chief problem - and even his worst enemy - is likely to be himself
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