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Sameer FY 2013 posts +53% profit, 0.30 dividend
Rank: Elder Joined: 9/15/2006 Posts: 3,905
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What a shocker this ugly duckling, due to a surge in export and local sales. Is this share now trading at a P/E of 4.8 and a dividend of 4.28! http://in.mobile.reuters.com/ar...N0MN3X020140326?irpc=932
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Rank: Member Joined: 1/1/2010 Posts: 511 Location: kandara, Murang'a
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I was expecting a bonus Foresight..
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Rank: Member Joined: 8/4/2012 Posts: 155 Location: Kenya
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Pretax profit rose by 53 percent to 457 million shillings ($5.27 million), buoyed by the 255 million shillings sale of a piece of land it previously leased out.Selling assets to show increase in profits? If you don't want to go to plan B have a good plan A.
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Rank: Elder Joined: 9/15/2006 Posts: 3,905
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Mucene wrote:Pretax profit rose by 53 percent to 457 million shillings ($5.27 million), buoyed by the 255 million shillings sale of a piece of land it previously leased out.
Selling assets to show increase in profits? Cheers @Mucene for the insight. Verdict: still ugly but for some photo editing http://ge.tt/11Sw4yT1/v/0
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Rank: Elder Joined: 6/2/2011 Posts: 4,818 Location: -1.2107, 36.8831
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Mucene wrote:
Pretax profit rose by 53 percent to 457 million shillings ($5.27 million), buoyed by the 255 million shillings sale of a piece of land it previously leased out.
Selling assets to show increase in profits?
I saw that in the Company Commentary and my eyes POPPED OUT!  So, if the company made 453M, of which 255M was from selling company property, then simple maths indicate they made 198M from operations, which mean the profit declined!!!! Pump pump pump pump, then DUMP!!!!!!! ARE WE STARRING AT ANOTHER ENRON, KENYAN VERSION???? Receive with simplicity everything that happens to you.” ― Rashi
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Rank: Member Joined: 1/13/2014 Posts: 386 Location: Denmark
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It's definitely a case of pump and dump. You gotta wonder why people are still falling for this.. but it's Merali we talking about, he's definitely capable of anything. Seeing is believing
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Rank: Member Joined: 1/16/2014 Posts: 114
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jawgey wrote:It's definitely a case of pump and dump. You gotta wonder why people are still falling for this.. but it's Merali we talking about, he's definitely capable of anything. In order to maintain the same performance and not issue a profit warning at the end of the current trading period they will have to sell their building along Mombasa road, net their factory, next..... A company cannot rely on selling assets to post positive result soon they will run out of assets to sell and that is when the real monkey will be seen. I can't touch this thing even the thought of it hurts. fear makes people live a miserable life.
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Rank: Elder Joined: 9/23/2010 Posts: 2,221 Location: Sundowner,Amboseli
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stockshunter wrote:jawgey wrote:It's definitely a case of pump and dump. You gotta wonder why people are still falling for this.. but it's Merali we talking about, he's definitely capable of anything. In order to maintain the same performance and not issue a profit warning at the end of the current trading period they will have to sell their building along Mombasa road, net their factory, next..... A company cannot rely on selling assets to post positive result soon they will run out of assets to sell and that is when the real monkey will be seen. I can't touch this thing even the thought of it hurts.   @SufficientlyP
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Rank: Elder Joined: 6/2/2011 Posts: 4,818 Location: -1.2107, 36.8831
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Some wise guy once said; "The key to a perfect pump-and-dump scheme is Plausibility and prey." Receive with simplicity everything that happens to you.” ― Rashi
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Rank: Chief Joined: 1/3/2007 Posts: 18,122 Location: Nairobi
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dunkang wrote:Mucene wrote:
Pretax profit rose by 53 percent to 457 million shillings ($5.27 million), buoyed by the 255 million shillings sale of a piece of land it previously leased out.
Selling assets to show increase in profits?
I saw that in the Company Commentary and my eyes POPPED OUT! So, if the company made 453M, of which 255M was from selling company property, then simple maths indicate they made 198M from operations, which mean the profit declined!!!! Pump pump pump pump, then DUMP!!!!!!! ARE WE STARRING AT ANOTHER ENRON, KENYAN VERSION???? Add to Olympia, HAFR for those stocks that make the majority shareholder wealthy not all the shareholders! And there are some Pumpers and Dumpers on Wazua who push these stocks. Ask @Obiero who has the details! Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Member Joined: 11/1/2013 Posts: 257
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Mucene wrote:Pretax profit rose by 53 percent to 457 million shillings ($5.27 million), buoyed by the 255 million shillings sale of a piece of land it previously leased out.Selling assets to show increase in profits? but total assets increased by 8%!! No diagnosis,no pragnosis,no pragnosis no profit......Jesse livermore
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Rank: Member Joined: 11/1/2013 Posts: 257
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YEAR...... PBT .... EPS2009...... 221m.... 0.57 2010 ...... 62m..... 0.21 2011...... 148m.... 0.35 2012...... 300m.... 0.68 2013...... 456m.... 1.44 This has been the trend for the past 5 years No diagnosis,no pragnosis,no pragnosis no profit......Jesse livermore
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Rank: Member Joined: 8/4/2012 Posts: 155 Location: Kenya
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Magnate wrote:Mucene wrote:Pretax profit rose by 53 percent to 457 million shillings ($5.27 million), buoyed by the 255 million shillings sale of a piece of land it previously leased out.Selling assets to show increase in profits? but total assets increased by 8%!! Simple playing with accounting principles. The sale of assets at a profit is recognized in the statement for profit and loss while their purchase is not(Cash flow statement will help here). They have also adopted new accounting policies and of note is IFRS 13 Fair value measurement If you don't want to go to plan B have a good plan A.
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Rank: Elder Joined: 8/16/2011 Posts: 2,297
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Does Merali affiliated companies offer Bonuses? I do not expect Sameer price to go down after closure of books.The management was shortsighted in that at that fair price they did not give extra shares as bonus. Sameer has a low capitalisation at 280,000,000 shares they could have created 70,000,000 more shares to rise to 350,000,000 shares that is 1:4. When Merali firm sameer Investment bought back Bridgestone shares everyone thought there ws need to increase capitalisation. I view Merali going the Scanad group way of bring in an investor by creating extra shares for the investor ( say the 70,000,000) 
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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Realtreaty wrote:Does Merali affiliated companies offer Bonuses? I do not expect Sameer price to go down after closure of books.The management was shortsighted in that at that fair price they did not give extra shares as bonus. Sameer has a low capitalisation at 280,000,000 shares they could have created 70,000,000 more shares to rise to 350,000,000 shares that is 1:4. When Merali firm sameer Investment bought back Bridgestone shares everyone thought there ws need to increase capitalisation. I view Merali going the Scanad group way of bring in an investor by creating extra shares for the investor ( say the 70,000,000) I can't quite follow the bonus argument. Life is short. Live passionately.
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Rank: Member Joined: 11/1/2013 Posts: 257
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Finally the wheels have began rolling, touching an all time high of 8.0 today with demands 5 times the supply. PE 5.5 div yield 3.75% books closing on 27th may 2014 The chineese cheap wheels deal prospects seems to have positive effects, http://www.ventures-afri...urer-for-cheaper-tyres/
No diagnosis,no pragnosis,no pragnosis no profit......Jesse livermore
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Rank: Veteran Joined: 6/17/2009 Posts: 1,619
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Magnate wrote:Finally the wheels have began rolling, touching an all time high of 8.0 today with demands 5 times the supply. PE 5.5 div yield 3.75% books closing on 27th may 2014 The chineese cheap wheels deal prospects seems to have positive effects, http://www.ventures-afri...urer-for-cheaper-tyres/
That is not correct,i remember this one in the 30s.
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Rank: Member Joined: 11/1/2013 Posts: 257
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cnn wrote:Magnate wrote:Finally the wheels have began rolling, touching an all time high of 8.0 today with demands 5 times the supply. PE 5.5 div yield 3.75% books closing on 27th may 2014 The chineese cheap wheels deal prospects seems to have positive effects, http://www.ventures-afri...urer-for-cheaper-tyres/
That is not correct,i remember this one in the 30s. i agree,its 52 week high thanks for the vocabulary No diagnosis,no pragnosis,no pragnosis no profit......Jesse livermore
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Rank: Member Joined: 11/1/2013 Posts: 257
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Sameer to invest in own power plant The company Wednesday announced that it would put up a six-megawatt coal plant at its tyre manufacturing plant in Nairobi that will be ready by 2016. Read more at: http://www.standardmedia...vest-in-own-power-plant
This will also add some juice to this stock currently on an upward trend at 8.5 bob today The firm also announced that it is close to concluding the search for a technical and capital partner. Walmsley said Sameer had already identified potential partners and negotiations are ongoing, but did not disclose any details. Read more at: http://www.standardmedia...vest-in-own-power-plant
No diagnosis,no pragnosis,no pragnosis no profit......Jesse livermore
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Rank: Member Joined: 3/3/2014 Posts: 131
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When is the books closure for this counter? @magnate...Just seen ur post on books closure. IMITATION IS LIMITATION
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Sameer FY 2013 posts +53% profit, 0.30 dividend
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