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UNGA Group Full Year 2011/2012 Results
Rank: Veteran Joined: 4/30/2010 Posts: 1,635
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Profits down to 348.2MN from 441MN posted the previous financial year.
DPS maintained at 0.75 cents per share.
@ Deal - what do you have to say as you were very positive on this counter ?
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Rank: Veteran Joined: 4/30/2010 Posts: 1,635
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Rank: Chief Joined: 1/3/2007 Posts: 18,136 Location: Nairobi
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The 1H results were very good & there was a sleight of hand by the Board in the 2H results. 1) No profit warning but a decrease of 22% which might have been 'adjusted' to be less than a 25% reduction in EPS. 2) The final dividend of 0.75 is miserly since Unga has 280mn in cash. This is 3.75 per share in cash. I am very disappointed that Unga painted a very positive picture in the 1H announcement but did not perform as expected in 2H. Nevertheless, a bonus or a higher dividend was warranted. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Member Joined: 9/12/2009 Posts: 312
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VituVingiSana wrote:
I am very disappointed
, a bonus or a higher dividend was warranted.
 And so is Mr market, by the end of day he will have attained the 10% cap.
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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Wayforward? 12? 10? 8? 6 (like mar 2009)?
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Rank: Elder Joined: 9/12/2006 Posts: 1,554
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VituVingiSana wrote:The 1H results were very good & there was a sleight of hand by the Board in the 2H results.
1) No profit warning but a decrease of 22% which might have been 'adjusted' to be less than a 25% reduction in EPS.
2) The final dividend of 0.75 is miserly since Unga has 280mn in cash. This is 3.75 per share in cash.
I am very disappointed that Unga painted a very positive picture in the 1H announcement but did not perform as expected in 2H. Nevertheless, a bonus or a higher dividend was warranted. Equally disappointed...
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Rank: Member Joined: 3/26/2012 Posts: 830
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Your disappointment,together with Mr Markets,will offer me a good entry price...at 9 bob or below I will accumulate like crazy. A successful man is not he who gets the best, it is he who makes the best from what he gets.
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Rank: Chief Joined: 1/3/2007 Posts: 18,136 Location: Nairobi
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S.Mutaga III wrote:Your disappointment,together with Mr Markets,will offer me a good entry price...at 9 bob or below I will accumulate like crazy. LOL, I may be disappointed with a lower dividend or no bonus but am I selling to you at 15 or lower? No.  PER of 5 NAV = 35 Requirement = PATIENCE Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 7/11/2010 Posts: 5,040
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As long as the company can get back to +20% growth in profits next year, i see no problem here. This can be a buying opportunity while the weak ones sell off The investor's chief problem - and even his worst enemy - is likely to be himself
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Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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The Directors decided to pack Ksh30mn in a Term deposit instead of increasing the dividend thats not cool, Ksh30mn is equal to Ksh0.40 per share.
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Rank: Elder Joined: 6/20/2012 Posts: 3,855 Location: Othumo
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the deal wrote:The Directors decided to pack Ksh30mn in a Term deposit instead of increasing the dividend thats not cool, Ksh30mn is equal to Ksh0.40 per share. I hope you cashed in on your capital gains? But i believe in the long haul Unga is still a good bet! Thieves
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Rank: Chief Joined: 1/3/2007 Posts: 18,136 Location: Nairobi
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Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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LOL you need to learn something a higher dividend is a way of unlocking shareholder value...they already have a considerable amount in those term deposits. They were suppose to increase that dividend period even if it means taping their cash reserves from the other year! There was no excuse here.
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Rank: Chief Joined: 1/3/2007 Posts: 18,136 Location: Nairobi
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the deal wrote:LOL you need to learn something a higher dividend is a way of unlocking shareholder value...they already have a considerable amount in those term deposits. They were suppose to increase that dividend period even if it means taping their cash reserves from the other year! There was no excuse here. That wasn't the point. You missed it. This is a balance sheet item so on 30 June 2012, they had a Term Deposit. It may have matured by 28 Sep 2012. Or timed to mature on the dividend payment date. So of course, they will 'park' it in a Term Deposit between 30th June 2012 to the payment date. It would be silly to leave it in a Current Account for 5 months! Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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VituVingiSana wrote:the deal wrote:LOL you need to learn something a higher dividend is a way of unlocking shareholder value...they already have a considerable amount in those term deposits. They were suppose to increase that dividend period even if it means taping their cash reserves from the other year! There was no excuse here. That wasn't the point. You missed it. This is a balance sheet item so on 30 June 2012, they had a Term Deposit. It may have matured by 28 Sep 2012. Or timed to mature on the dividend payment date. So of course, they will 'park' it in a Term Deposit between 30th June 2012 to the payment date. It would be silly to leave it in a Current Account for 5 months! On the cash flow statement they say the term deposit is an investment, so they can roll it over when it matures... 
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Rank: Chief Joined: 1/3/2007 Posts: 18,136 Location: Nairobi
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the deal wrote:VituVingiSana wrote:the deal wrote:LOL you need to learn something a higher dividend is a way of unlocking shareholder value...they already have a considerable amount in those term deposits. They were suppose to increase that dividend period even if it means taping their cash reserves from the other year! There was no excuse here. That wasn't the point. You missed it. This is a balance sheet item so on 30 June 2012, they had a Term Deposit. It may have matured by 28 Sep 2012. Or timed to mature on the dividend payment date. So of course, they will 'park' it in a Term Deposit between 30th June 2012 to the payment date. It would be silly to leave it in a Current Account for 5 months! On the cash flow statement they say the term deposit is an investment, so they can roll it over when it matures... The CF Statement is for the period. Of they can roll a Term Deposit. Isn't that idea (to earn higher interest) until cash is needed? Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Member Joined: 1/1/2010 Posts: 511 Location: kandara, Murang'a
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I will gladly wait to add @ 9 bob.. Another one for retirement Foresight..
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Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
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When this stock rallied from 10bob - 16bob.. I smelt two fat rats called SPECULATION and GREED.. it looks like The guys who bought during that rally will sell to me at 10bob.. This is a good stock at the right price! Mark 12:29
Deuteronomy 4:16
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UNGA Group Full Year 2011/2012 Results
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