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Kenya Re FY 2012 Results
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the deal
#11 Posted : Wednesday, April 24, 2013 10:04:26 AM
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.
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guru267
#12 Posted : Wednesday, April 24, 2013 10:07:36 AM
Rank: Elder

Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
NAV has risen to 20.9!!!Applause
Mark 12:29
Deuteronomy 4:16
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mypesa
#13 Posted : Wednesday, April 24, 2013 10:13:56 AM
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.
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Ericsson
#14 Posted : Wednesday, April 24, 2013 10:16:40 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,810
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
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muganda
#15 Posted : Wednesday, April 24, 2013 10:31:14 AM
Rank: Elder

Joined: 9/15/2006
Posts: 3,907
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%.
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the deal
#16 Posted : Wednesday, April 24, 2013 10:40:48 AM
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....
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guru267
#17 Posted : Wednesday, April 24, 2013 10:55:50 AM
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
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mwekez@ji
#18 Posted : Wednesday, April 24, 2013 11:06:08 AM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
Drat!!! Why refer us to notes that they havent provided!!!
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muganda
#19 Posted : Wednesday, April 24, 2013 11:26:52 AM
Rank: Elder

Joined: 9/15/2006
Posts: 3,907
guru267 wrote:
The fact that "cashflow from operations" is positive in an insurance company is awesome in itself!

Well @guru267 Angel
...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!
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  | | Edit by user: Wednesday, April 24, 2013 11:28 AM | Reason: Not specified
mwekez@ji
#20 Posted : Wednesday, April 24, 2013 11:31:04 AM
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
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