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Williamson and Kapchorua comes in FY 2011
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the deal
#1 Posted : Monday, July 02, 2012 10:10:18 AM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
Things are looking Brown!!!

Williamson and Kapchorua Tea report earnings decline for FY12.


Williamson Tea announced FY12 results for the period ending March 2012 with a 3.8%y/y decline in EPS to KES 93. 74. The profits included a one-off gain from the sale of an investment in Williamson House which we calculate to have generated an EPS uplift of KES 11.77. Otherwise, net profits would have fallen 15.9%y/y. Kapchorua Tea, an associate of Williamson Tea, posted a much weaker performance with EPS falling 58.3%y/y to KES 19.93. The company had issued a profit warning, with an increase in fair value from biological assets being a lot lower than the previous year. The 2H12 appears to have been much more challenging for the both companies, with management attributing a drier than usual last quarter to the results. Final DPS declared for Williamson Tea was 50% lower to KES 12.50, but this is in addition to an interim special DPS of KES 50- which we attribute came as a result of the significant asset disposal during the year. Final DPS for Kapchorua was unchanged at KES 7.50. Books closure for both companies is 20th August 2012. Management expects an uncertain outlook on earnings based on weather patterns, global demand conditions and exchange rate volatility.

Source: SIB
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muganda
#2 Posted : Monday, July 02, 2012 10:15:45 AM
Rank: Elder

Joined: 9/15/2006
Posts: 3,907
(Reuters) - Kapchorua Tea Company and Williamson Tea Kenya both reported a fall in full-year profits on Monday, blaming dry weather conditions in the first quarter of 2012.

Williamson Tea's profit before tax for the 12 months ending March 31 fell 10 percent to 1.163 billion shillings ($13.8 million)from 1.294 million shillings.

Kapchorua Tea's profit before tax for the same period slumped 58 percent to 113 million shillings from 268 million shillings.
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muganda
#3 Posted : Monday, July 02, 2012 10:17:45 AM
Rank: Elder

Joined: 9/15/2006
Posts: 3,907
On that note, if even Bolt can loose to Blake and Italy to Spain, I look kindly on the misforecasts by some of Wazua's best - @VituVingiSana and @Stockmaster.

Though, the race is not over yet smile
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  | | Edit by user: Monday, July 02, 2012 10:23 AM | Reason: Not specified
guru267
#4 Posted : Monday, July 02, 2012 10:32:10 AM
Rank: Elder

Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
The signs were all over!!! The height of the frost was @ the nandi hills!!
Mark 12:29
Deuteronomy 4:16
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VituVingiSana
#5 Posted : Monday, July 02, 2012 10:47:23 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,361
Location: Nairobi
muganda wrote:
On that note, if even Bolt can loose to Blake and Italy to Spain, I look kindly on the misforecasts by some of Wazua's best - @VituVingiSana and @Stockmaster.

Though, the race is not over yet smile
Actually, if you look at the Operating Income (which is what needs to be looked at vs the change in Biological Assets)... not bad!
As for the 'value' ... I would love to pick these up cheaper!

The EPS is decent enough & the NAV/Share remains just as juicy!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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muganda
#6 Posted : Monday, July 02, 2012 11:01:51 AM
Rank: Elder

Joined: 9/15/2006
Posts: 3,907
In that case @VVS I guarantee your wish to 'pick these up cheaper' will be granted. Make the money ready...

The only bid is for 10,000 at 100.00 - so cheeky!

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guru267
#7 Posted : Monday, July 02, 2012 11:14:26 AM
Rank: Elder

Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
muganda wrote:
In that case @VVS I guarantee your wish to 'pick these up cheaper' will be granted. Make the money ready...

The only bid is for 10,000 at 100.00 - so cheeky!


I want KAPC @ 95bob..
Mark 12:29
Deuteronomy 4:16
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VituVingiSana
#8 Posted : Monday, July 02, 2012 11:27:17 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,361
Location: Nairobi
muganda wrote:
In that case @VVS I guarantee your wish to 'pick these up cheaper' will be granted. Make the money ready...

The only bid is for 10,000 at 100.00 - so cheeky!
Just for you, I will have someone bid 130/- ... give you 10% extra! Are you selling?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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  | | Edit by user: Monday, July 02, 2012 1:28 PM | Reason: Not specified
zizzi
#9 Posted : Thursday, March 28, 2013 4:11:41 PM
Rank: New-farer

Joined: 3/2/2011
Posts: 33
Location: Nbi
Fellow Wazuans,

I think this stock of Kapchorua has been forgotten...

Checking on the financials of this company I see as of 2012 it had earnings in the range of Ksh 75M...and has net assets in the Balance Sheet of Ksh 1.13B... and no debt!

Lakini the market cap of this company is only Ksh 470m...

So at the current rate, even if Kapchorua had zero Ksh in assets, it would make back the entire market cap in about 7-9 years..
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Aguytrying
#10 Posted : Thursday, March 28, 2013 4:22:14 PM
Rank: Elder

Joined: 7/11/2010
Posts: 5,040
zizzi wrote:
Fellow Wazuans,

I think this stock of Kapchorua has been forgotten...

Checking on the financials of this company I see as of 2012 it had earnings in the range of Ksh 75M...and has net assets in the Balance Sheet of Ksh 1.13B... and no debt!

Lakini the market cap of this company is only Ksh 470m...

So at the current rate, even if Kapchorua had zero Ksh in assets, it would make back the entire market cap in about 7-9 years..


Check out unga and also rea vip, Williamson.
The investor's chief problem - and even his worst enemy - is likely to be himself
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