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CIC FY 2012 pre-tax profit up 110%
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holycow
#1 Posted : Wednesday, March 27, 2013 9:14:45 AM
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Just seen a tweet from CIC to the effect that the numbers are out.
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bartum
#2 Posted : Wednesday, March 27, 2013 9:29:01 AM
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The pre-tax profits grew 110%to
Ksh1.65 billion for the period
ended December 31, 2012 from
Ksh787 million in 2011
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dunkang
#3 Posted : Wednesday, March 27, 2013 9:30:53 AM
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holycow wrote:
Just seen a tweet from CIC to the effect that the numbers are out.

Ndo hii ripoti yenyewe
Receive with simplicity everything that happens to you.” ― Rashi

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FUNKY
#4 Posted : Wednesday, March 27, 2013 9:36:36 AM
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DPS?
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kazee
#5 Posted : Wednesday, March 27, 2013 9:41:33 AM
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PBT grew by 110% and EPS is 64 cents. Not bad
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Hunderwear
#6 Posted : Wednesday, March 27, 2013 9:43:35 AM
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FUNKY wrote:
DPS?


0.1
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FUNKY
#7 Posted : Wednesday, March 27, 2013 9:49:58 AM
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That DPS is very small..what is the EPS?
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Hunderwear
#8 Posted : Wednesday, March 27, 2013 10:01:31 AM
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FUNKY wrote:
That DPS is very small..what is the EPS?


They have an ambitious growth plan into SS and Uganda.They need capital for this
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guru267
#9 Posted : Wednesday, March 27, 2013 10:07:03 AM
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FUNKY wrote:
That DPS is very small..what is the EPS?


EPS = 0.64
Mark 12:29
Deuteronomy 4:16
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jerry
#10 Posted : Wednesday, March 27, 2013 10:08:24 AM
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Hunderwear wrote:
FUNKY wrote:
DPS?


0.1

Below my expectation of 0.15
The opposite of courage is not cowardice, it's conformity.
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jerry
#11 Posted : Wednesday, March 27, 2013 10:10:47 AM
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jerry wrote:
Hunderwear wrote:
FUNKY wrote:
DPS?


0.1

Below my expectation of 0.15

We need a policy on DPS payment like 25% of EPS!
The opposite of courage is not cowardice, it's conformity.
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hisah
#12 Posted : Wednesday, March 27, 2013 10:18:38 AM
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jerry wrote:
jerry wrote:
Hunderwear wrote:
FUNKY wrote:
DPS?


0.1

Below my expectation of 0.15

We need a policy on DPS payment like 25% of EPS!

Going by their expansion plans to chase growth, if I were in charge I'd issue bonus shares instead of dividends. Retain the money for expansion then pay dividends later when the roots are strong enough.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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the deal
#13 Posted : Wednesday, March 27, 2013 10:34:25 AM
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FYI: Look beyond the headline numbers...look at the cash flow statement...to pay a dividend...you need cash...which they didnt generate in 2012 like 2011...a company can report a 1000% increase in PBT if its due to a non cash item i.e property revaluation...they will not pay a dividend until they sell that property and have the cash.
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hisah
#14 Posted : Wednesday, March 27, 2013 10:44:53 AM
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@ericsson - you were right on the money about the results.

However going forward growing the PBT at such rates (110%) is not sustainable. I can see net claims are up 47%. Need to know which policies (general or life)...

$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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mwekez@ji
#15 Posted : Wednesday, March 27, 2013 10:58:21 AM
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Other income has done the magic here on increasing by a massive KES 634,882,000 - Read, revaluation of CIC Plaza and Kamiti Land.
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Ericsson
#16 Posted : Wednesday, March 27, 2013 10:59:52 AM
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2012 was a good year for most companies going by the results announced.
Presidennt Kibaki will be leaving office with the economy on a good growth trajectory.
2013 also seems to be a good year with good growth recovery in America and the financial crisis of Europe easing slowly.
This year they might target to hit a PBT of ksh.2B which I give a growth estimate of about 20%.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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PKoli
#17 Posted : Wednesday, March 27, 2013 9:16:48 PM
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the deal wrote:
FYI: Look beyond the headline numbers...look at the cash flow statement...to pay a dividend...you need cash...which they didnt generate in 2012 like 2011...a company can report a 1000% increase in PBT if its due to a non cash item i.e property revaluation...they will not pay a dividend until they sell that property and have the cash.

@the deal, what do you make of CIC? The numbers and strategy to SS and Uganda.
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the deal
#18 Posted : Wednesday, March 27, 2013 9:32:01 PM
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PKoli wrote:
the deal wrote:
FYI: Look beyond the headline numbers...look at the cash flow statement...to pay a dividend...you need cash...which they didnt generate in 2012 like 2011...a company can report a 1000% increase in PBT if its due to a non cash item i.e property revaluation...they will not pay a dividend until they sell that property and have the cash.

@the deal, what do you make of CIC? The numbers and strategy to SS and Uganda.

The numbers where Ok...they were boosted by non cash items like property revaluations...I noticed that their claims ratio is deteriorating...I think that's a line item to watch...I think 2013 earnings will be key...as per the FY 12 numbers they don't have the NSE exposure so they're missing out on the current bull run...the expansion will face some teething problems...lets see 3 years in...overall CIC trades at a premium to its peers...I like the Liberty play...smile
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mwekez@ji
#19 Posted : Wednesday, March 27, 2013 11:46:19 PM
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sib conclusion on FY12 Results analysis "... CIC remains expensive trading at a 47% and 26% premium to sector average PB and PE respectively. Against FY12 reported figures CIC currently trades at 8.52x PE 2.17x PB and 2% dividend yield (against sector average of 3%)."
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hisah
#20 Posted : Thursday, March 28, 2013 12:31:21 PM
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mwekez@ji wrote:
sib conclusion on FY12 Results analysis "... CIC remains expensive trading at a 47% and 26% premium to sector average PB and PE respectively. Against FY12 reported figures CIC currently trades at 8.52x PE 2.17x PB and 2% dividend yield (against sector average of 3%)."

The market can be irrational longer than one can remain solvent...
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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