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Kenya Airways 2011/12 Financial Results
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FUNKY
#21 Posted : Thursday, June 14, 2012 8:44:00 AM
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madollar
#22 Posted : Thursday, June 14, 2012 9:21:31 AM
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the numbers are in down 57%

"Kenya Airways posted a 57 percent drop in pretax profit to 2.15 billion shillings ($25.18 million)"

http://www.reuters.com/a...ys-idUSN6E8HE00020120614
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Sufficiently Philanga....thropic
#23 Posted : Thursday, June 14, 2012 9:29:37 AM
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Joined: 9/23/2010
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[quote=madollar]the numbers are in down 57%

"Kenya Airways posted a 57 percent drop in pretax profit to 2.15 billion shillings ($25.18 million)"

http://www.reuters.com/a...s-idUSN6E8HE00020120614[/quote]
Flying low?Sad
@SufficientlyP
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Aguytrying
#24 Posted : Thursday, June 14, 2012 10:10:58 AM
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Joined: 7/11/2010
Posts: 5,040
VituVingiSana wrote:
Aguytrying wrote:
QW25091985 wrote:
Aguytrying wrote:
mlennyma wrote:
Buying kq was my worst decision i ever made on the nse.


me too. selling it at a huge loss and putting my money elsrwhere was a wise move.



did you really have too ? asin really really !!!!!


I really really had to. looking back it was the best decision. put the money in KK and thats set to double. It was less than 10% of my portfolio so little effect overall.
Example: 1 KQ share was 30/- when KK was 10/- but now KQ is 14/- but KK will be 20/- (Kestrel)

So:

KQ 30/- is now 14/-
KK 30/- is now 60/-

Good move!


Yep. exactly.
most People don't realize that when you are 50% down, you need to gain 100% just to get back where you were.
The investor's chief problem - and even his worst enemy - is likely to be himself
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Impunity
#25 Posted : Thursday, June 14, 2012 10:14:49 AM
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Joined: 3/2/2009
Posts: 26,328
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[quote=madollar]the numbers are in down 57%

"Kenya Airways posted a 57 percent drop in pretax profit to 2.15 billion shillings ($25.18 million)"

http://www.reuters.com/a...s-idUSN6E8HE00020120614[/quote]

Brick wall Brick wall Brick wall
What is the destination?
Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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mlennyma
#26 Posted : Thursday, June 14, 2012 10:16:31 AM
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No dividend or what?is dividend to include the billions of new shares
"Don't let the fear of losing be greater than the excitement of winning."
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Aguytrying
#27 Posted : Thursday, June 14, 2012 10:20:17 AM
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results at the website

http://www.kenya-airways...ports/Financial_Reports/
The investor's chief problem - and even his worst enemy - is likely to be himself
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VituVingiSana
#28 Posted : Thursday, June 14, 2012 10:24:00 AM
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Joined: 1/3/2007
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The 25% profit warning was inadequate! No wonder the Management or Directors of KQ were not interested in buying the shares!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Aguytrying
#29 Posted : Thursday, June 14, 2012 10:29:02 AM
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The Directors recommend payment of a first and final dividend of KShs 0.25 per share for approval by the
Shareholders at the forthcoming Annual General Meeting to be held on 27 September 2012, payable on or
around 30 October 2012 to the substantially increased shareholders on the Register of Members at close of
business on 27 September, 2012

OMG. This is a massacre.

PAT is 1.66 billion shilling.

EPS = 1.66/1.5= 1.11

PE at 14 shillings is 12.6.

The investor's chief problem - and even his worst enemy - is likely to be himself
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Aguytrying
#30 Posted : Thursday, June 14, 2012 10:38:32 AM
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It is stunning that eps of last year was 7.65. this year(minus new shares) was 3.58. a 53% drop.
net margins last year 4.1%. this year 1.5%! Yet total passengers ferried increased by 0.5 million.

This company has pontential, but the current management will run it to the ground. If the management changed(and esp ppl who own the business), It may be worth a look at a PE of 5. Yes 5.
The investor's chief problem - and even his worst enemy - is likely to be himself
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hisah
#31 Posted : Thursday, June 14, 2012 10:40:15 AM
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Joined: 8/4/2010
Posts: 8,977
I'm shocked they've declared dividends. I was expecting them to hold onto that cash now that the rights got undersub... However dividend has been cut down by 1.25/- to 25cts from 1.50/-

Passengers aboard this stock are advised to fasten their seatbelts for the nosedive.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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jerry
#32 Posted : Thursday, June 14, 2012 10:42:46 AM
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VituVingiSana wrote:
The 25% profit warning was inadequate! No wonder the Management or Directors of KQ were not interested in buying the shares!

a better figure would have been at least 50%.
The opposite of courage is not cowardice, it's conformity.
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hisah
#33 Posted : Thursday, June 14, 2012 10:45:09 AM
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jerry wrote:
VituVingiSana wrote:
The 25% profit warning was inadequate! No wonder the Management or Directors of KQ were not interested in buying the shares!

a better figure would have been at least 50%.

If they did that, who would have bought the rights! It would have been a tough call for them to attempt to float that rights issue idea with such a stark profit warning...

That investor that was suing KQ was spot on.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Aguytrying
#34 Posted : Thursday, June 14, 2012 10:46:03 AM
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Joined: 7/11/2010
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hisah wrote:
I'm shocked they've declared dividends. I was expecting them to hold onto that cash now that the rights got undersub... However dividend has been cut down by 1.25/- to 25cts from 1.50/-

Passengers aboard this stock are advised to fasten their seatbelts for the nosedive.


They've actually increased the dividend payout.

last year 1.5/7.65(eps)= 20% pay out

This year 0.25/1.11(eps)= 22.5% payout. ( new shares included) I think they are hoping this will save them.
The investor's chief problem - and even his worst enemy - is likely to be himself
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Ngogoyo
#35 Posted : Thursday, June 14, 2012 10:47:58 AM
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at .25 per share they might as well ask for my m-pesa a/c its embarrassing to deposit the thingi. But like QW i will average out
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Aguytrying
#36 Posted : Thursday, June 14, 2012 11:06:04 AM
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@QW, Ngogoyo. If you really want to average down. I would suggest you wait for the price to come down.
IF management got their act together, they asy they'll cut costs. Theres no reason why they cant get back to profitabilty of 2011, which next year would give an eps of around 2.0. which is not bad bad at all. The prob is managemnt and thats a big IF.
The investor's chief problem - and even his worst enemy - is likely to be himself
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StatMeister
#37 Posted : Thursday, June 14, 2012 11:13:10 AM
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Aguytrying wrote:
hisah wrote:
I'm shocked they've declared dividends. I was expecting them to hold onto that cash now that the rights got undersub... However dividend has been cut down by 1.25/- to 25cts from 1.50/-

Passengers aboard this stock are advised to fasten their seatbelts for the nosedive.


They've actually increased the dividend payout.

last year 1.5/7.65(eps)= 20% pay out

This year 0.25/1.11(eps)= 22.5% payout. ( new shares included) I think they are hoping this will save them.


My feelings for this counter are unchanged. This is a company that has lost direction.

This time, they made twice as much from derivatives as from flying planes (2.5b vs. 1.3b). I somehow thought they would lose money on those fuel hedges, but lo!

I wonder what transpires this year . . .
A bad day fishing is better than a good day at work
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ProverB
#38 Posted : Thursday, June 14, 2012 11:51:21 AM
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Joined: 3/12/2010
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hisah wrote:
I'm shocked they've declared dividends. I was expecting them to hold onto that cash now that the rights got undersub... However dividend has been cut down by 1.25/- to 25cts from 1.50/-

Passengers aboard this stock are advised to fasten their seatbelts for the nosedive.


..plus i remember the Financial Director saying they would continue with "Debt Financing" now that intended funds from rights weren't fully realized!! ...makes you wonder... isn't retained earnings cheaper than debt??

...ama its just a ploy to appease investors..play market valuation?

And on matters management...

..a company is a Thought...infact, a conceptualized thought...not building..not personnel..not product... until Large shareholders realize Naikuni's time is done.. it's a sad future ahead..

..what is needed...re engineer the thinking..revolutionize entire thought concept on airline biz..and things will change.
...after all..they can change buildings...change entire workforce.. redo products..and the company still continues...but stunt the thinking..and crap happens...as it is..
..Let your light so shine before men, that they may see your good works, and glorify your Father which is in heaven...Matt5:16
- 1769 Oxford King James Bible 'Authorized Version
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hisah
#39 Posted : Thursday, June 14, 2012 12:15:52 PM
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Joined: 8/4/2010
Posts: 8,977
Aguytrying wrote:
hisah wrote:
I'm shocked they've declared dividends. I was expecting them to hold onto that cash now that the rights got undersub... However dividend has been cut down by 1.25/- to 25cts from 1.50/-

Passengers aboard this stock are advised to fasten their seatbelts for the nosedive.


They've actually increased the dividend payout.

last year 1.5/7.65(eps)= 20% pay out

This year 0.25/1.11(eps)= 22.5% payout. ( new shares included) I think they are hoping this will save them.

@Aguy - I hadn't factored the new shares from the rights issue. Indeed an increment of the dividend payout! I don't understand this KQ management reasoning. They should hold on to cash and avoid debt financing for a while esp with the current high interest rates. Investors should vote down the dividend pay at the AGM. Also tough questions need to be asked to the management since it seems they're making more money from hedges than the business operations!
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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VituVingiSana
#40 Posted : Thursday, June 14, 2012 12:51:38 PM
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Joined: 1/3/2007
Posts: 18,129
Location: Nairobi
BIDS 27,600
Quantity Price Splits Time
4,000 13.90 1 12:40:18
1,000 13.80 1 12:40:18
1,800 13.70 2 12:40:18
6,800 13.50 3 12:40:18
14,000 13.00 1 12:40:18
ASKS 53,500
Quantity Price Splits Time
28,600 14.00 3 12:40:18
1,900 14.50 1 12:40:18
500 14.70 1 12:40:18
4,200 15.00 5 12:40:18
400 15.40 1 12:40:18
TRADES
Quantity Price Time
6,000 13.90 12:40:17
1,000 13.95 12:40:11
1,000 13.95 12:29:20
400 13.95 12:28:43
2,000 13.95 12:28:30
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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