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is CFCI the next big stock to buy
PKoli
#21 Posted : Sunday, January 15, 2012 7:00:58 PM
Rank: Elder


Joined: 2/10/2007
Posts: 1,587
There was too much hype on CFCI and the reason the price went up 19 must have been due to illiquidity of the stock. At current prices, I would surely pick on Britak
Simplified
#22 Posted : Thursday, August 02, 2012 10:19:33 AM
Rank: Member


Joined: 11/26/2009
Posts: 67
Location: Pare pare
when are this guys announcing H1 results?
Hug the bear....ride the bull.....di$mount!!!
cnn
#23 Posted : Thursday, August 02, 2012 10:52:24 AM
Rank: Veteran


Joined: 6/17/2009
Posts: 1,619
Britak has moved to a pre-tax profit of 1.8 billion at half year from a loss position last year,better performance of the NSE helping them.
Simplified
#24 Posted : Thursday, August 02, 2012 11:29:53 AM
Rank: Member


Joined: 11/26/2009
Posts: 67
Location: Pare pare
cnn wrote:
Britak has moved to a pre-tax profit of 1.8 billion at half year from a loss position last year,better performance of the NSE helping them.



Forgot to specify, meant cfci.When are their H1 results due?
Hug the bear....ride the bull.....di$mount!!!
PKoli
#25 Posted : Thursday, August 02, 2012 2:02:34 PM
Rank: Elder


Joined: 2/10/2007
Posts: 1,587
Simplified wrote:
cnn wrote:
Britak has moved to a pre-tax profit of 1.8 billion at half year from a loss position last year,better performance of the NSE helping them.



Forgot to specify, meant cfci.When are their H1 results due?


Someone mentioned in one of the posts that the results will be announced on or around 2nd August 2012.
PKoli
#26 Posted : Thursday, August 02, 2012 2:47:47 PM
Rank: Elder


Joined: 2/10/2007
Posts: 1,587
Simplified wrote:
cnn wrote:
Britak has moved to a pre-tax profit of 1.8 billion at half year from a loss position last year,better performance of the NSE helping them.



Forgot to specify, meant cfci.When are their H1 results due?


For the people who entered Britak at 4 bob, they are smelling 50% returns, could CFCI offer similar returns?
xxxxx
#27 Posted : Thursday, August 02, 2012 2:59:00 PM
Rank: Member


Joined: 3/20/2008
Posts: 503
PKoli wrote:
Simplified wrote:
cnn wrote:
Britak has moved to a pre-tax profit of 1.8 billion at half year from a loss position last year,better performance of the NSE helping them.



Forgot to specify, meant cfci.When are their H1 results due?


Someone mentioned in one of the posts that the results will be announced on or around 2nd August 2012.


They were referring to Liberty Holdings SA (the parent. There was no mention of the Kenyan sub's performance..not even a hint!
xxxxx
#28 Posted : Thursday, August 02, 2012 3:05:12 PM
Rank: Member


Joined: 3/20/2008
Posts: 503
xxxxx wrote:
PKoli wrote:
Simplified wrote:
cnn wrote:
Britak has moved to a pre-tax profit of 1.8 billion at half year from a loss position last year,better performance of the NSE helping them.



Forgot to specify, meant cfci.When are their H1 results due?


Someone mentioned in one of the posts that the results will be announced on or around 2nd August 2012.


They were referring to Liberty Holdings SA (the parent. There was no mention of the Kenyan sub's performance..not even a hint!


..Infact, me thinks their results are crap; otherwise would they not have issued a cautionary announcement like at year end?????
PKoli
#29 Posted : Thursday, August 02, 2012 3:15:05 PM
Rank: Elder


Joined: 2/10/2007
Posts: 1,587
xxxxx wrote:
xxxxx wrote:
PKoli wrote:
Simplified wrote:
cnn wrote:
Britak has moved to a pre-tax profit of 1.8 billion at half year from a loss position last year,better performance of the NSE helping them.



Forgot to specify, meant cfci.When are their H1 results due?


Someone mentioned in one of the posts that the results will be announced on or around 2nd August 2012.


They were referring to Liberty Holdings SA (the parent. There was no mention of the Kenyan sub's performance..not even a hint!


..Infact, me thinks their results are crap; otherwise would they not have issued a cautionary announcement like at year end?????

when was the cautionary announcement issued?
xxxxx
#30 Posted : Thursday, August 02, 2012 3:18:14 PM
Rank: Member


Joined: 3/20/2008
Posts: 503
[/quote]
when was the cautionary announcement issued?[/quote]

Actually, it wasn't a cautionary but something with a pbt range for the year 2011.
PKoli
#31 Posted : Thursday, August 02, 2012 3:20:43 PM
Rank: Elder


Joined: 2/10/2007
Posts: 1,587
xxxxx wrote:

when was the cautionary announcement issued?[/quote]

Actually, it wasn't a cautionary but something with a pbt range for the year 2011.[/quote]

For CFCI or Liberty?
xxxxx
#32 Posted : Thursday, August 02, 2012 3:45:36 PM
Rank: Member


Joined: 3/20/2008
Posts: 503
PKoli wrote:
xxxxx wrote:

when was the cautionary announcement issued?


Actually, it wasn't a cautionary but something with a pbt range for the year 2011.[/quote]

For CFCI or Liberty?[/quote]

Following the recent CFC Insurance AGM, CFC Insurance Holdings was renamed Liberty Holdings Kenya.

Because, Liberty SA, the parent reports earlier than Liberty Kenya, CFC Insurance told us in advance that they expected to make btn KShS800M to KShs1,200M for the year ending 31/12/2011 on the day Liberty SA was due to release its results. The absence of something like that this time may not bode well in terms of the half year results....just a thought
Simplified
#33 Posted : Thursday, August 02, 2012 4:15:16 PM
Rank: Member


Joined: 11/26/2009
Posts: 67
Location: Pare pare
xxxxx wrote:
PKoli wrote:
xxxxx wrote:

when was the cautionary announcement issued?


Actually, it wasn't a cautionary but something with a pbt range for the year 2011.


For CFCI or Liberty?[/quote]

Following the recent CFC Insurance AGM, CFC Insurance Holdings was renamed Liberty Holdings Kenya.

Because, Liberty SA, the parent reports earlier than Liberty Kenya, CFC Insurance told us in advance that they expected to make btn KShS800M to KShs1,200M for the year ending 31/12/2011 on the day Liberty SA was due to release its results. The absence of something like that this time may not bode well in terms of the half year results....just a thought[/quote]

What a pain. Eh?
Hug the bear....ride the bull.....di$mount!!!
the deal
#34 Posted : Thursday, August 02, 2012 6:06:34 PM
Rank: Elder


Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
Stop being lazy, check Liberty's website they announced stellar earnings today...eps was up 48%
uchumi
#35 Posted : Thursday, August 02, 2012 6:41:18 PM
Rank: Member


Joined: 9/16/2006
Posts: 229
ncial services group Liberty Holdings has delivered strong growth for the first half‚ with record sales for its retail business.
Indexed new business for retail was up 23%‚ while the group also noted strong net inflows of R7.4bn in its asset management businesses.

Liberty on Thursday, 2 August 2012, reported 23% growth in indexed insurance sales‚ while its cash flows rose by 95% to R2.7bn. Value of new business increased 51% to R203m. Retail gross sales improved by 26% to R8.6bn.

The group's BEE normalised headline earnings were up 41% at R1.7bn‚ while BEE normalised headline earnings per share rose to 587.7 cents from 414.0 cents a year ago.

Headline earnings adjusted for assumption and modelling changes for the six months were 14% up on the comparative period in 2011.

BEE normalised operating earnings of R855m were 6.5% lower than those reported in first-half 2011‚ largely reflecting the cost of the investment in the build initiatives. The 2011 earnings also benefited from one-off noneconomic assumption changes of R112m in the Retail SA business.

The group declared an interim dividend of 192 cents per share.

Liberty noted that Stanlib had achieved solid earnings‚ with net cash inflows of R7.4bn as it continued to benefit from the embedding of the multi-franchise model‚ while LibFin delivered a R920m headline earnings result in a tough economic environment and low interest rates.

"We have delivered another pleasing set of results for the first half of this year. This was done despite difficult market conditions‚" said CEO Bruce Hemphill.

"Consistent focus on our value-creation strategy has placed Liberty on a sustainable growth path. We are seeing the benefits of the quality foundation built within our retail business‚ where we are growing and taking market share. This is on the back of stronger risk management‚ an improved acquisition and retention model that combines a compelling value proposition for our financial advisers and a strong product mix which includes market leading innovation."

Hemphill said the group's asset management business‚ Stanlib‚ was showing the benefits of the multi-franchise model‚ which had attracted significant inflows‚ as investment performance continued to go from strength to strength.

"Our capital adequacy cover of 2.9 reflects the strength of our balance sheet management‚" he said.

Highlights of the Retail SA performance included 26% growth in gross sales to R8.7bn‚ while indexed new business lifted 23% to R2.4bn.

Net customer cash inflows remain strong‚ almost doubling to R2.7bn in 2012.

Corporate headline earnings at R42m indicate an improved risk claims experience‚ though cost ratios remain high due to costs related to a transition‚ begun in 2011‚ to migrate its client base to more cost-efficient umbrella funds and to establish the ability to serve larger corporations and retirement funds.

These costs put headline earnings under pressure‚ Hemphill said.

In addition‚ the business achieved a 4% increase in indexed new business‚ including higher enhancement and sales to existing umbrella clients.

LibFin Markets delivered headline earnings of R99m‚ which flowed mainly from higher credit margins on asset-backed annuities‚ guaranteed capital bonds and lower implied volatilities.

Stanlib generated strong net inflows of R7.4bn‚ with total assets under management increasing to R392bn from the restated R368bn of a year ago‚ as a result of strong inflows and an increase in underlying asset values resulting from market growth.

Headline earnings for the first half were flat at R200m.

Stanlib is the third-largest asset manager in South Africa.

Liberty Africa's progress is in line with expectations‚ with the business posting headline earnings of R16m for the reporting period.

East and Southern Africa (outside SA) delivered solid performances from the various interests in asset management and insurance businesses. Investment markets in East Africa improved in the first half of 2012‚ and offered further opportunities which should benefit both the insurance and asset management businesses in the second half‚ Hemphill said.

Assets under management remain substantial at R39bn.

Management's focus is to drive operational improvement‚ grow the opportunities of bancassurance and to secure additional investment mandates.

Hemphill told a conference call the group had a presence in 14 African countries and would look to grow its presence in Nigeria and in Ghana.

Liberty Health's sales of health risk products in the rest of Africa continued to grow‚ increasing the in-force book to 79‚000 lives from 68‚000 in December 2011.

"The balance sheet is well managed and positioned for the lower interest rate environment‚ we have made significant investment in new and existing capabilities‚ our operating earnings have demonstrated good growth‚ achieved during volatile economic circumstances‚ and the business is well diversified across channel‚ product line and geography. Liberty is well positioned for sustained growth‚ within acceptable risk parameters‚" Hemphill said.
“I don’t regret the things I’ve done, I regret the things I didn’t do when I had the chance.”
PKoli
#36 Posted : Thursday, August 02, 2012 10:26:50 PM
Rank: Elder


Joined: 2/10/2007
Posts: 1,587
the deal wrote:
Stop being lazy, check Liberty's website they announced stellar earnings today...eps was up 48%


Difficult to say how CFCI might have contributed to overall performance, but from the commentary, management is happy with contributions from EA. Let us wait for HY results of CFCI.
mwekez@ji
#37 Posted : Thursday, August 02, 2012 11:19:54 PM
Rank: Chief


Joined: 5/31/2011
Posts: 5,121
PKoli wrote:
the deal wrote:
Stop being lazy, check Liberty's website they announced stellar earnings today...eps was up 48%


Difficult to say how CFCI might have contributed to overall performance, but from the commentary, management is happy with contributions from EA. Let us wait for HY results of CFCI.


I like the way the liberty holding has given very comprehensive half year results. None of our kenyan companies get close to that.

However, as @pkoli has said, its difficult to know CFCI contribution to the EPS. This is because Liberty holds a majority stake in CFCI and has therefore accounted for CFCI as a subsidiary.
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