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Kenya power posts 36 pct profit jump in FY 2012
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mwekez@ji
#41 Posted : Monday, October 29, 2012 11:32:04 AM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
jerry wrote:
mwekez@ji wrote:

Someone make me understand, why has KPLC paid such a high tax this year (45.7% of its PBT). In FY 11, they paid 32.5% which is about the country's corporate tax rate.


This year's high tax rate is so huge that PBT is up 36.0% yet PAT is up a mere 9.4% #Huge disparity

.

Because elections are around! On a more serious note, the highest tax rate is 30% and this should be for unlisted co.


lol on that 1st bit.

On a more serious note, sib has also said "The company saw a higher effective tax of 45.7% vs 32.5% leading to a profit after tax growth of only 9.4%y/y." @jerry, make me understand why KPLC has paid such high effective tax this time (FY12)
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mwekez@ji
#42 Posted : Monday, October 29, 2012 11:34:31 AM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
mwekez@ji wrote:
Positive - EPS 2.36 P/E 7.8x at the current VWAP of KES 18.50
Negative - Low Dividend and no bonus will not augur well with this market
Fact - KPLC needs the earnings and loans to achieve adequate infrastructure


On capital expenditure, most of the funds from the Energy Sector Recovery Project and the Kenya Electricity Expansion Program have already been used. The company is increasingly using internally generated funds for system expansion as well as reinforcement of the existing system, reflected in a negative impact on cash flows for the year. Growth is expected to remain a key focus for Kenya Power with a target of 50% electricity access by 2030 (from approximately 20-25% currently). Additional long term funding is being obtained, with a recent loan of USD 50m from the IFC due to be disbursed in the current financial year to support the expansion. (sib)
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Aguytrying
#43 Posted : Monday, October 29, 2012 12:14:25 PM
Rank: Elder

Joined: 7/11/2010
Posts: 5,040
suprisingly there is alot of demand at 18.50. im not comfy with their debt even though its a high capex. negative working capital. can that really be good? i still like the company but i need to triple check on debt.
The investor's chief problem - and even his worst enemy - is likely to be himself
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2012
#44 Posted : Monday, October 29, 2012 1:59:57 PM
Rank: Elder

Joined: 12/9/2009
Posts: 6,592
Location: Nairobi
They should have allocated better dividends. Least should have been 1/-.

BBI will solve it :)
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gesowan
#45 Posted : Monday, October 29, 2012 4:16:51 PM
Rank: Member

Joined: 11/6/2010
Posts: 289
even after the release of results this counter did not react nkt
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mlennyma
#46 Posted : Monday, October 29, 2012 6:53:07 PM
Rank: Elder

Joined: 7/21/2010
Posts: 6,194
Location: nairobi
Simply put the market cant react to a mere .30cts very mean indeed.
"Don't let the fear of losing be greater than the excitement of winning."
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Aguytrying
#47 Posted : Monday, October 29, 2012 7:12:21 PM
Rank: Elder

Joined: 7/11/2010
Posts: 5,040
mlennyma wrote:
Simply put the market cant react to a mere .30cts very mean indeed.


to be honest, i expect it to go down. but the current market euphoria may shore it up
The investor's chief problem - and even his worst enemy - is likely to be himself
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holycow
#48 Posted : Monday, October 29, 2012 7:35:42 PM
Rank: Veteran

Joined: 11/11/2006
Posts: 972
Location: Home
Aguytrying wrote:
mlennyma wrote:
Simply put the market cant react to a mere .30cts very mean indeed.


to be honest, i expect it to go down. but the current market euphoria may shore it up


True, Kengen and MSC both have dividends of 50 cents and the prices are sub 10.
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2012
#49 Posted : Tuesday, October 30, 2012 10:01:20 AM
Rank: Elder

Joined: 12/9/2009
Posts: 6,592
Location: Nairobi
holycow wrote:
Aguytrying wrote:
mlennyma wrote:
Simply put the market cant react to a mere .30cts very mean indeed.


to be honest, i expect it to go down. but the current market euphoria may shore it up


True, Kengen and MSC both have dividends of 50 cents and the prices are sub 10.


It defeats logic to spend 18m to earn 500k annually for any dividend investor. And as you said, you get 60cts from Kengen and 50cts from Mumias. This from KPLC is an insult.

BBI will solve it :)
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Aguytrying
#50 Posted : Tuesday, October 30, 2012 10:57:08 AM
Rank: Elder

Joined: 7/11/2010
Posts: 5,040
2012 wrote:
holycow wrote:
Aguytrying wrote:
mlennyma wrote:
Simply put the market cant react to a mere .30cts very mean indeed.


to be honest, i expect it to go down. but the current market euphoria may shore it up


True, Kengen and MSC both have dividends of 50 cents and the prices are sub 10.


It defeats logic to spend 18m to earn 500k annually for any dividend investor. And as you said, you get 60cts from Kengen and 50cts from Mumias. This from KPLC is an insult.


Very true. Uchumi as well. For Kplc i think people used to think it was a good dividend payer when the stock was in the 200's, but now its a poor payer. also i found the realease of results misleading, at first glance i thought it was 0.50 for end of year. while it was actually 0.30.
The investor's chief problem - and even his worst enemy - is likely to be himself
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