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Housing Finance FY 2013 pbt up 63%
Rank: Elder Joined: 2/10/2007 Posts: 1,587
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murchr wrote:mwanahisa wrote:cnn wrote: Better than i expected....NPLs?..dividend? Final Div 1.00. Fully Year Dividend of 1.75. Nice...   Very nice Surprising results, but market not bothered. I think at current prices HF is a good buy. 5% dividend yield is not bad. At eps of 4.3 we should be looking at a price not less 40. For me this a massive buy.
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Rank: Elder Joined: 9/15/2006 Posts: 3,907
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Other footnotes to the results...
63% profit before tax dropeed to 33% growth in EPS because of a larger than proportional growth in tax.
Non-interest income recorded a one-off 382% gain owing to sale of real estate investment
Non-performing loans rose 37%. NPL ratio is at 8.9% compared to 5.0% industry average. NPL coverage ratio worsened to 17.3%, still the lowest in the market by a wide margin.
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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PKoli wrote:murchr wrote:mwanahisa wrote:cnn wrote: Better than i expected....NPLs?..dividend? Final Div 1.00. Fully Year Dividend of 1.75. Nice... Very nice Surprising results, but market not bothered. I think at current prices HF is a good buy. 5% dividend yield is not bad. At eps of 4.3 we should be looking at a price not less 40. For me this a massive buy.
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Rank: Member Joined: 9/14/2011 Posts: 869 Location: nairobi
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Could it be that the NPL and inadequate provisions for them is actually showing a higher pbt than actual. I.e abit of cooking the figures?
To me the profitability of hfck and the projects they are involved in with their new subsidiary shows a growth company whose share price should be higher
Unless the true picture is not what the accounts show? ??
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Rank: Member Joined: 1/15/2010 Posts: 625
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In the stock market, sometimes results are already priced into the counter. And there's a bunch of like minded people thinking, I'll sell after the amazing results. The assumption is obviously that there'll be people who will buy right after the good results. That's why sometimes the price falls right after good results as the sellers party checks in while the buyers wait and see.
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Rank: Member Joined: 1/25/2009 Posts: 184 Location: For now El-Fashier - Darfur
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I bought at KShs 15.50.....so with a dividend of 1.75 thats more than 10% yield. I'll take my capital gain and look elsewhere but where is this elsewhere? Guess equity which will give 1.20 as per projection and being liquid might rally to above 38 unlike HFCK whose book closure and payment is quite long! "A bad decision made now is beta that a good one made later!!"
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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underweight wrote:I bought at KShs 15.50.....so with a dividend of 1.75 thats more than 10% yield. I'll take my capital gain and look elsewhere but where is this elsewhere? Guess equity which will give 1.20 as per projection and being liquid might rally to above 38 unlike HFCK whose book closure and payment is quite long!
HF will deliver market beating returns for the foreseable future. This is a buy and hold counter. Life is short. Live passionately.
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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HF gets Sh620mn credit facility for housing project
The East African Development Bank has signed a Sh620 million credit facility with Housing Finance for the construction of Kahawa Downs Development Estate in Kahawa, Kiambu County. Housing Finance has entered into a joint venture partnership with a land owner to develop the 220 housing units targeting the middle income market.
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Rank: Member Joined: 9/14/2011 Posts: 869 Location: nairobi
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Anyone who has the full set of 2013 financial statements. kindly share
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Rank: Member Joined: 9/14/2011 Posts: 869 Location: nairobi
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mwekez@ji wrote:HF gets Sh620mn credit facility for housing project
The East African Development Bank has signed a Sh620 million credit facility with Housing Finance for the construction of Kahawa Downs Development Estate in Kahawa, Kiambu County. Housing Finance has entered into a joint venture partnership with a land owner to develop the 220 housing units targeting the middle income market. how much do they make from these deals. i saw they reported a profit of sh 302m mainly from sale of 162 units in Komarock
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Housing Finance FY 2013 pbt up 63%
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