VituVingiSana wrote:Sales jumped to 1.1 billion shillings in the 12 months through June 2011 from 526.9 million shillings a year earlier, the Nairobi-based company said in an e-mailed prospectus in Kenya’s capital today.
“This remarkable growth was attributed to huge export sales into the Rwanda market,” Longhorn said.
The company, which has units in Uganda and Tanzania, plans to issue 58.5 million shares at 14 shillings each. They will be listed by introduction, meaning Longhorn won’t raise new capital.
>>> Is there something unsettling that sales jump 2x & profits jump 5x the prior year on just one order & just before the Listing. I am going to read the IM but I am staying out for now.
Rwanda is emerging as the less riskier version of SS cash cow
However, Tanzania is a different story. Longhorn entered Tanzania in May 2005 but they have been making losses in all the history we know!!! They should just close that bloody shop like Deacons did after making losses for 5 years