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Sameer (Firestone) FY 12 PAT up 96% courtesy of lower finance cost
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mwekez@ji
#1 Posted : Friday, March 22, 2013 12:05:13 PM
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>>> FYR pdf copy here

Funny, No dividend declared this time. The dividend declared at Q3 2012 is now considered "First and Final Dividend".
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mlennyma
#2 Posted : Friday, March 22, 2013 12:24:30 PM
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The mockery of a monkey.
"Don't let the fear of losing be greater than the excitement of winning."
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dunkang
#3 Posted : Friday, March 22, 2013 12:28:54 PM
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Naushad Meralli
SMH
Receive with simplicity everything that happens to you.” ― Rashi

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VituVingiSana
#4 Posted : Friday, March 22, 2013 2:36:41 PM
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LMAO... What? No faith?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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FUNKY
#5 Posted : Friday, March 22, 2013 3:19:27 PM
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symbols
#6 Posted : Friday, March 22, 2013 3:28:20 PM
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@VVS - What would compel you to touch this share Merali issue excluded.
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Mastermind
#7 Posted : Friday, March 22, 2013 4:19:17 PM
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FUNKY wrote:
http://www.businessdailyafrica.com/Corporate-News/Sameer-posts-96pc-growth-in-net-profit/-/539550/1727716/-/4s7jly/-/index.html


Something is wrong with this article right?
If you have built castles in the air, your work need not be lost; that is where they should be. Now put the foundations under them.
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mwekez@ji
#8 Posted : Friday, March 22, 2013 7:17:36 PM
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Mastermind wrote:
FUNKY wrote:
http://www.businessdailyafrica.com/Corporate-News/Sameer-posts-96pc-growth-in-net-profit/-/539550/1727716/-/4s7jly/-/index.html


Something is wrong with this article right?


yeah, right
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VituVingiSana
#9 Posted : Friday, March 22, 2013 10:08:15 PM
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symbols wrote:
@VVS - What would compel you to touch this share Merali issue excluded.

1) There is a lot of ambiguity as far as the real estate JV is concerned. Merali owns 75% of the Real Estate JV along Mombasa Rd& Sameer Africa only 25% thus we do not know whether there is any equity (left for Sameer Africa) in the project. A clarification on this matter is required.

2) I find it pricey at 5.80 vs potential growth. High PER for the firm with inconsistent performance.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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symbols
#10 Posted : Saturday, March 23, 2013 2:47:02 PM
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VituVingiSana wrote:
symbols wrote:
@VVS - What would compel you to touch this share Merali issue excluded.

1) There is a lot of ambiguity as far as the real estate JV is concerned. Merali owns 75% of the Real Estate JV along Mombasa Rd& Sameer Africa only 25% thus we do not know whether there is any equity (left for Sameer Africa) in the project. A clarification on this matter is required.

2) I find it pricey at 5.80 vs potential growth. High PER for the firm with inconsistent performance.


In your view what are the determinants and obstacles for growth in its core business?
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VituVingiSana
#11 Posted : Sunday, March 24, 2013 11:54:58 PM
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symbols wrote:
VituVingiSana wrote:
symbols wrote:
@VVS - What would compel you to touch this share Merali issue excluded.

1) There is a lot of ambiguity as far as the real estate JV is concerned. Merali owns 75% of the Real Estate JV along Mombasa Rd& Sameer Africa only 25% thus we do not know whether there is any equity (left for Sameer Africa) in the project. A clarification on this matter is required.

2) I find it pricey at 5.80 vs potential growth. High PER for the firm with inconsistent performance.

In your view what are the determinants and obstacles for growth in its core business?
I am a fan of Warren Buffett, so if I do not trust management, I don't bother much with the firm... If the management changes, then I will have a look. An example is EA Cables, which I only 'entered' after merali sold out to TransCentury [mugo kibati as MD] then I sold after he left.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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VituVingiSana
#12 Posted : Sunday, March 24, 2013 11:58:06 PM
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Joined: 1/3/2007
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symbols wrote:
VituVingiSana wrote:
symbols wrote:
@VVS - What would compel you to touch this share Merali issue excluded.

1) There is a lot of ambiguity as far as the real estate JV is concerned. Merali owns 75% of the Real Estate JV along Mombasa Rd& Sameer Africa only 25% thus we do not know whether there is any equity (left for Sameer Africa) in the project. A clarification on this matter is required.

2) I find it pricey at 5.80 vs potential growth. High PER for the firm with inconsistent performance.


In your view what are the determinants and obstacles for growth in its core business?


Excluding the merali factor:
1) It has to rein in costs [power] by investing in other sources & not rely on KPLC.
2) Educate Kenyans on buying 'local' fresh tyres not those that have stayed in the sun for months/years... Many tyres Kenya imports have been baking in Dubai's sun...
3) More cars = more tyres needed. This is common across EAC. What about the market for tyres for motorbikes? Huge & growing market.
4) The real estate JV worries me somewhat. Not sure if the benefits will flow to Sameer's shareholders vs merali.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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symbols
#13 Posted : Monday, March 25, 2013 9:53:06 AM
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Thank you VVS
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