Wazua
»
Investor
»
Stocks
»
Kenya Re FY 2012 Results
Rank: Veteran Joined: 4/30/2010 Posts: 1,635
|
PAT Increased by 45 and a DPS of 0.40. No bonus issue.EPS of 4.
Results on page 15 todays Daily Nation.
|
|
|
Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
|
Mixed bag of results... On the one hand you have EPS surprising positively and DPS/bonus surprising negatively! Imho Great for long term holders and BAD for short term traders! Im sure they are preserving profits for the new building instead of harrassing us with rights issues!!  Mark 12:29
Deuteronomy 4:16
|
|
|
Rank: Elder Joined: 6/2/2008 Posts: 1,438
|
guru267 wrote:Mixed bag of results... On the one hand you have EPS surprising positively and DPS/bonus surprising negatively! Imho Great for long term holders and BAD for short term traders! Im sure they are preserving profits for the new building instead of harrassing us with rights issues!! @G267, When I saw your prediction of results on the KenyaRe thread, I actually thought you were being over-optimistic and I did not even expect them to hit your EPS projection. I must say I am positively surprised by the EPS growth and the EPS figure itself. I have not seen the actual results yet to discern the quality of the results but I hope that the huge increase in EPS is from growth in premium revenue and NOT so much from change in fair value of investment property and/or disposals of land/buildings.
|
|
|
Rank: Veteran Joined: 3/26/2012 Posts: 985 Location: Dar es salaam,Tanzania
|
Growth premium writeen grew by 20% investment income grew by 87% claims grew by 38% Management expenses rose by 40% Total assets increased by 25%
“The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails.”
|
|
|
Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
|
mwanahisa wrote:guru267 wrote:Mixed bag of results... On the one hand you have EPS surprising positively and DPS/bonus surprising negatively! Imho Great for long term holders and BAD for short term traders! Im sure they are preserving profits for the new building instead of harrassing us with rights issues!! @G267, When I saw your prediction of results on the KenyaRe thread, I actually thought you were being over-optimistic and I did not even expect them to hit your EPS projection. I must say I am positively surprised by the EPS growth and the EPS figure itself. I have not seen the actual results yet to discern the quality of the results but I hope that the huge increase in EPS is from growth in premium revenue and NOT so much from change in fair value of investment property and/or disposals of land/buildings. Kenya re has never recorded change in fair value of investments in its income statement! This means the NSE has absolutely no impact on Kenya re's EPS! Mark 12:29
Deuteronomy 4:16
|
|
|
Rank: Elder Joined: 9/29/2006 Posts: 2,570
|
I think we need a policy on dvd. Low dividend avoids excrssive corporate tax though. Bonus would also do the trick. The opposite of courage is not cowardice, it's conformity.
|
|
|
Rank: Elder Joined: 6/2/2008 Posts: 1,438
|
My issue is with changes in valuation of investment properties and disposals, not on quoted equity (see my comments highlighted below). Basically, I would wish to confirm sustainability of the earnings model. guru267 wrote:mwanahisa wrote:guru267 wrote:Mixed bag of results... On the one hand you have EPS surprising positively and DPS/bonus surprising negatively! Imho Great for long term holders and BAD for short term traders! Im sure they are preserving profits for the new building instead of harrassing us with rights issues!! @G267, When I saw your prediction of results on the KenyaRe thread, I actually thought you were being over-optimistic and I did not even expect them to hit your EPS projection. I must say I am positively surprised by the EPS growth and the EPS figure itself. I have not seen the actual results yet to discern the quality of the results but I hope that the huge increase in EPS is from growth in premium revenue and NOT so much from change in fair value of investment property and/or disposals of land/buildings. Kenya re has never recorded change in fair value of investments in its income statement! This means the NSE has absolutely no impact on Kenya re's EPS!
|
|
|
Rank: Elder Joined: 9/29/2006 Posts: 2,570
|
Metasploit wrote:Growth premium writeen grew by 20%
investment income grew by 87%
claims grew by 38%
Management expenses rose by 40%
Total assets increased by 25% Mgt expending 40% more ought to be more considerate to owners/shareholders of the company. The opposite of courage is not cowardice, it's conformity.
|
|
|
Rank: Elder Joined: 12/4/2009 Posts: 10,702 Location: NAIROBI
|
Link: https://www.nse.co.ke/li...-re-financial-statementsWealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
|
|
|
Rank: Elder Joined: 12/4/2009 Posts: 10,702 Location: NAIROBI
|
Five year reduced tax at 20% has ended and beginning FY012 the company is being taxed at 30% Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
|
|
|
Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
|
Ericsson wrote:Five year reduced tax at 20% has ended and beginning FY012 the company is being taxed at 30% You mean in FY13...they will pay the normal tax rate cos in FY12 effective. tax rate is 4.8% hence EPS is inflated...also cash gen from op activities is down 28.2% y/y.
|
|
|
Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
|
NAV has risen to 20.9!!! Mark 12:29
Deuteronomy 4:16
|
|
|
Rank: Member Joined: 8/14/2007 Posts: 111
|
Any increase in dividend declared ? Even In The Most Severe Drought In The Jungle Lions Will Never Feed On Grass.
|
|
|
Rank: Elder Joined: 12/4/2009 Posts: 10,702 Location: NAIROBI
|
The normal tax rate resumed in the just announced results.Effective tax rate is low because insurance companies are also investment companies hence investment income which forms a huge percentage of their income has a low tax rate Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
|
|
|
Rank: Elder Joined: 9/15/2006 Posts: 3,905
|
As our listed companies become adept at fine tuning results announcement, I've found the cash flow statement most informative from an investment perspective. http://t.co/SJ7ywJ2W6M
Hence for Kenya-Re for example, cash generated from operations actually halved from a year ago, and the net increase in cash and equivalents declined 30%.
|
|
|
Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
|
muganda wrote:As our listed companies become adept at fine tuning results announcement, I've found the cash flow statement most informative from an investment perspective. http://t.co/SJ7ywJ2W6M
Hence for Kenya-Re for example, cash generated from operations actually halved from a year ago, and the net increase in cash and equivalents declined 30%. Agreed agressive accounting has become a common norm at the NSE...but for Insurance companies use net cash generated from operating activities...Cash is cash you can't fine tune it....
|
|
|
Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
|
muganda wrote:As our listed companies become adept at fine tuning results announcement, I've found the cash flow statement most informative from an investment perspective. http://t.co/SJ7ywJ2W6M
Hence for Kenya-Re for example, cash generated from operations actually halved from a year ago, and the net increase in cash and equivalents declined 30%. The fact that "cashflow from operations" is positive in an insurance company is awesome in itself! Mark 12:29
Deuteronomy 4:16
|
|
|
Rank: Chief Joined: 5/31/2011 Posts: 5,121
|
Drat!!! Why refer us to notes that they havent provided!!!
|
|
|
Rank: Elder Joined: 9/15/2006 Posts: 3,905
|
guru267 wrote:The fact that "cashflow from operations" is positive in an insurance company is awesome in itself!
Well @guru267  ...the awesomeness reduced from cashflow from operations of 1.13b in 2011 to 556m in 2012. It might even just begin explaining your mixed bag guru267 wrote:Mixed bag of results... On the one hand you have EPS surprising positively and DPS/bonus surprising negatively!
|
|
|
Rank: Chief Joined: 5/31/2011 Posts: 5,121
|
mwekez@ji wrote:Drat!!! Why refer us to notes that they havent provided!!! Am upset coz we can see the growth is majorly from investment income line (up 86.73% y/y) yet the note 7 we are being referred to is not available. we now cant tell precisely the composition of this investment income and how sustainable it is. i recall they sold a sports centre during the financial year and they also sold quoted equity instruments but we now cant tell the contribution of this two to this growth
|
|
|
Wazua
»
Investor
»
Stocks
»
Kenya Re FY 2012 Results
Forum Jump
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.
|