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Kenya power posts 36 pct profit jump in FY 2012
Rank: Chief Joined: 5/31/2011 Posts: 5,121
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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
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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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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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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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Rank: Elder Joined: 7/11/2010 Posts: 5,040
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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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Rank: Elder Joined: 12/9/2009 Posts: 6,592 Location: Nairobi
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They should have allocated better dividends. Least should have been 1/-.
BBI will solve it :)
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Rank: Member Joined: 11/6/2010 Posts: 289
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even after the release of results this counter did not react nkt
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Rank: Elder Joined: 7/21/2010 Posts: 6,183 Location: nairobi
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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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Rank: Elder Joined: 7/11/2010 Posts: 5,040
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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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Rank: Veteran Joined: 11/11/2006 Posts: 972 Location: Home
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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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Rank: Elder Joined: 12/9/2009 Posts: 6,592 Location: Nairobi
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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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Rank: Elder Joined: 7/11/2010 Posts: 5,040
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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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Rank: Elder Joined: 7/11/2010 Posts: 5,040
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Yenyewe this vmarket has its owners. they have bailed out on kplc, no demand now. I think they were getting out yesterday and today. those trades were abnormally high. I just wonder who there were selling to( maybe to themselves to draw in more buyers) 17.60 just printed The investor's chief problem - and even his worst enemy - is likely to be himself
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Rank: Elder Joined: 7/11/2010 Posts: 5,040
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Aguytrying wrote:Yenyewe this vmarket has its owners.
they have bailed out on kplc, no demand now. I think they were getting out yesterday and today. those trades were abnormally high. I just wonder who there were selling to( maybe to themselves to draw in more buyers)
17.60 just printed if demand doesn't start coming through. expect to buy this share at 16 and below soon. the problem is the dividend relative to other nse companies. and no bonus. now at 17.65 The investor's chief problem - and even his worst enemy - is likely to be himself
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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murchr wrote:mwekez@ji wrote:murchr wrote:mwekez@ji wrote:the deal wrote:Switch to Kengen, Dividend Yield at 9.25 is 6.5%...PE 7.2 Revenue growth 11% y/y vs Kenya Powers 2.7% Dividend yield, PE 7.8 and Revenue growth of 6% y/y. This energy sector! General Electric to Develop 1,000 Megawatts in Kenya and is in talks with Kenya Power Ltd about a power-purchase agreement. #Compe to kengen Source: Bloomberg article dated Oct 26, 2012 http://www.bloomberg.com/news/2...s-in-kenya-correct-.html Hio compe haitoshi, all that power will be consumed.. There is some other thread that I mentioned that Kengen is a better bet than KPLC some dude/tte called Kausha bashed me badly, I hope he is slowly getting to realize that he was very blind. How much is Kengen currently producing and what are its plans going forward? Lets just say its selling everything to KPLC which is still not enough. Lets just say I have found good insights here > (Ol-Karia 280MW discussion thread) with @sparkly and @Kausha raising pertinent concerns on Kengen So, Kengen FY ending June 12 revenue driver was the commissioned Kipevu III project. What will drive Kengen revenue this financial year given that no big projects like Kipevu III are being commissioned?
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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hisah wrote:the deal wrote:Switch to Kengen, Dividend Yield at 9.25 is 6.5%...PE 7.2 Revenue growth 11% y/y vs Kenya Powers 2.7% Dividend yield, PE 7.8 and Revenue growth of 6% y/y. I had stated this on Tues that rotation from KPLC to Kengen is happening now. And with that mean KPLC div with no bonus, the upside support will be limited.
Kengen has an upside potential of 13.5% from 9.25/- targetting 10.50/- before book closure on Dec 5th. So upside of 13.5% plus div yield of 6.5% @9.25/- gives a cool return of 20%.
Two weeks later Kengen is playing the script. Today's high testing 10/-
@guru - we will review exdiv to see if it will nosedive as per your expectations.
@youcant - keep this in your reminder memo bank.$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Veteran Joined: 4/30/2010 Posts: 1,635
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And it has tested a high of 10.10/- today...might reach 11/- this week.
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Rank: Elder Joined: 7/11/2010 Posts: 5,040
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hisah wrote:hisah wrote:the deal wrote:Switch to Kengen, Dividend Yield at 9.25 is 6.5%...PE 7.2 Revenue growth 11% y/y vs Kenya Powers 2.7% Dividend yield, PE 7.8 and Revenue growth of 6% y/y. I had stated this on Tues that rotation from KPLC to Kengen is happening now. And with that mean KPLC div with no bonus, the upside support will be limited.
Kengen has an upside potential of 13.5% from 9.25/- targetting 10.50/- before book closure on Dec 5th. So upside of 13.5% plus div yield of 6.5% @9.25/- gives a cool return of 20%.
Two weeks later Kengen is playing the script. Today's high testing 10/-
@guru - we will review exdiv to see if it will nosedive as per your expectations.
@youcant - keep this in your reminder memo bank. kudos. i was about to recognise this prediction. spot on. The investor's chief problem - and even his worst enemy - is likely to be himself
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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KPLC testing 17.50/- support as expected. Below is 16.50/- Mean div payout cannot encourage bulls to push for 20/- while kengen has a higher div yield. 2 weeks to go for kengen to push to 10.50/- but the momentum has slowed. If so then @guru will throw missiles at me with price dipping to 9.20/- exdiv. $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Closed at 17.45/- $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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hisah wrote:Closed at 17.45/- Seems like 17.50/- support will not hold. Trades day low of 17.05/- Heading down to 16.50/- as selling accelerates.$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Elder Joined: 7/11/2010 Posts: 5,040
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hisah wrote:hisah wrote:Closed at 17.45/- Seems like 17.50/- support will not hold. Trades day low of 17.05/- Heading down to 16.50/- as selling accelerates. its just as i suspected. the big buyers were cashing out, those big trades at 18.50. i saw it. at 14-15 ill get interested again. i think next year they will be a bonus now that it didnt come this year. The investor's chief problem - and even his worst enemy - is likely to be himself
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Kenya power posts 36 pct profit jump in FY 2012
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