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CMC Profit Warning
egitau
#1 Posted : Thursday, December 10, 2009 7:01:26 AM
Rank: Member


Joined: 10/11/2009
Posts: 25
CMC has issued a profit warning in today's DN 10th Dec pg 24 and the share is coming down like noones business.How bad can these results be when out?
Knowledge Is Power But Action Get Things Done
kadonye
#2 Posted : Thursday, December 10, 2009 7:34:09 AM
Rank: Elder


Joined: 5/30/2009
Posts: 1,390
It was in the standard too.it can only go south even into next yr.i wldnt rush to buy it now tho its gud 4 long term
What a wicked man I am!The things I want to do,I don't do.The things I don't want to do I find myself doing
egitau
#3 Posted : Thursday, December 10, 2009 3:42:34 PM
Rank: Member


Joined: 10/11/2009
Posts: 25
@Kadonye
How low do you think we can get?today we did 10 bob 9 bob is the lowest in the last 12 months hapo March or April.Centum had the same warning we came down to current levels from 14 bob Cmc kama intakunja 7 bob then how many will be willing to sell.
Knowledge Is Power But Action Get Things Done
Wondergirl
#4 Posted : Thursday, December 10, 2009 4:00:13 PM
Rank: Member


Joined: 9/12/2009
Posts: 312
I'm also wondering the same considering i was waiting for the price to go to 13 so that I can dispose off my portion.
My unqualified guess is that it will go down even further if the profit is much less than what was generally expected.Like someone said here I have already shifted it to my long term portfolio.
mturi
#5 Posted : Thursday, December 10, 2009 11:00:50 PM
Rank: Member


Joined: 10/29/2009
Posts: 25
But why would they issue the profit warning after year end....that is unusual- a warning comes before the event, i thought. they should be giving the investors the results, whether audited or not for them to see the real picture.
mukiha
#6 Posted : Friday, December 11, 2009 6:32:55 AM
Rank: Elder


Joined: 6/27/2008
Posts: 4,114
@mturi;

I wondered the same thing. The year ended on Sep 30th. The warning comes on 10 December. That is unusual!!

I have been in this company for quite a while now and have had quite some good returns. I was considering upping my stake, but now I will wait and see what the market thinks.

All in all; I want to see how far down it will go and then begging adding....
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
muganda
#7 Posted : Friday, December 11, 2009 6:36:37 AM
Rank: Elder


Joined: 9/15/2006
Posts: 3,905
Aiiishh, I thought with the Passat's deal and all Land Rover's people are driving everything should be fine? Too many 'black swans' flying in the NSE
FundamentAli
#8 Posted : Friday, December 11, 2009 6:49:23 AM
Rank: Veteran


Joined: 11/4/2008
Posts: 1,289
Location: Nairobi
I jumped off last year. I cut my losses. I was afraid after the global downturn. I was not going to wait to proof that our economy behaves differently.
VituVingiSana
#9 Posted : Friday, December 11, 2009 7:56:13 AM
Rank: Chief


Joined: 1/3/2007
Posts: 18,117
Location: Nairobi
It is odd... they should have announced the profit warning much earlier. On 10 Dec (9 weeks after the year closed), they should be announcing results not profit warnings!!!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
stonemimi
#10 Posted : Friday, December 11, 2009 10:09:29 AM
Rank: Member


Joined: 5/16/2009
Posts: 145
Could be insider manipulation so that someone buys cheap
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