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Uchumi PBT down 35% in HY to Dec 2012
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mwekez@ji
#1 Posted : Monday, February 25, 2013 10:05:53 AM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
Local retail chain Uchumi released its 1H13 performance figures posting a 35% y/y drop in PBT. Sales remained flat at KES 7.6bn, though GP margin improved slightly to 19% vs. 18% 1H12. Operating expenses climbed 18% y/y driven largely by expansion projects the supermarket is undertaking (1H13 capex at KES 224m). Two new stores in Kenya are to be operational in a month’s time while the company is planning on opening two other stores in Uganda and Tanzania by the end of the year. The company plans on raising capital in the market this year by way of rights issue to enable it fund its expansion projects. (Standard Investment Bank)
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  | | Edit by user: Monday, February 25, 2013 11:15 AM | Reason: Not specified
Angelica _ann
#2 Posted : Monday, February 25, 2013 10:14:59 AM
Rank: Elder

Joined: 12/7/2012
Posts: 11,935
mwekez@ji wrote:
Sales; down 0.1%
Cost of sales; flat
Gross profit; down 0.4%
Other incomes; up 289.5%
Operating expenses; up 29.4%
Finance cost; up 29.2%
Gross profit; up 30.8%


Gross profit repeated. i will assume the last one is net profit (PAT)
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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mwekez@ji
#3 Posted : Monday, February 25, 2013 10:26:30 AM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
Angelica _ann wrote:
mwekez@ji wrote:
Sales; down 0.1%
Cost of sales; flat
Gross profit; down 0.4%
Other incomes; up 289.5%
Operating expenses; up 29.4%
Finance cost; up 29.2%
Gross profit; up 30.8%


Gross profit repeated. i will assume the last one is net profit (PAT)


That last line is Profit Before Tax for the month of Dec 2012. The figures are a performance comparison of Dec 2012 (the 1 month festal period) Vs the 1 month - Dec 2011
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  | | Edit by user: Monday, February 25, 2013 12:23 PM | Reason: Not specified
FUNKY
#4 Posted : Monday, February 25, 2013 10:31:15 AM
Rank: Veteran

Joined: 4/30/2010
Posts: 1,635
What will be the other incomes ? Sales of assets??
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dunkang
#5 Posted : Monday, February 25, 2013 10:40:14 AM
Rank: Elder

Joined: 6/2/2011
Posts: 4,824
Location: -1.2107, 36.8831
FUNKY wrote:
What will be the other incomes ? Sales of assets??

Thinking like me. I know royalties from safaricom m-pesa and similar things, but an asset or two can be a suspect, enron style.
Receive with simplicity everything that happens to you.” ― Rashi

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gmg
#6 Posted : Monday, February 25, 2013 10:41:28 AM
Rank: Member

Joined: 3/17/2009
Posts: 201
FUNKY wrote:
What will be the other incomes ? Sales of assets??

MPESA Income,Royalty points redeemed
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the deal
#7 Posted : Monday, February 25, 2013 11:07:51 AM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
Uchumi H1 2013 PBT down 35% to KES131Mn Vs KES204Mn.

You can download the results here http://www.contrarianinvestingkenya.info/
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dunkang
#8 Posted : Monday, February 25, 2013 11:16:58 AM
Rank: Elder

Joined: 6/2/2011
Posts: 4,824
Location: -1.2107, 36.8831
@mwekez@ji, was it deliberate or an oversight to also indicate that EPS was down 35 percent (KES.50 vs KES.77)
Receive with simplicity everything that happens to you.” ― Rashi

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mwekez@ji
#9 Posted : Monday, February 25, 2013 11:23:53 AM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
dunkang wrote:
@mwekez@ji, was it deliberate or an oversight to also indicate that EPS was down 35 percent (KES.50 vs KES.77)


My bad. The financial statements have a "Month" column that i fell for. I still dont understand they put it there. For analysis, "YTD" column it should be
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the deal
#10 Posted : Monday, February 25, 2013 11:27:02 AM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
mwekez@ji wrote:
dunkang wrote:
@mwekez@ji, was it deliberate or an oversight to also indicate that EPS was down 35 percent (KES.50 vs KES.77)


My bad. The financial statements have a "Month" column that i fell for. I still dont understand they put it there. For analysis, "YTD" column it should be

To show sales for December....Festive season...sales are suppose to shoot up during this month....
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