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NSE PAT down by 30.6%
Rank: Member Joined: 5/28/2014 Posts: 149 Location: Nairobi
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The NSE announces its 1H14 results, with PAT declining 30.6% y/y. No surprises here. When you live for others' opinions, you are dead.
- Carlos Slim Helu
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Rank: Veteran Joined: 11/21/2006 Posts: 1,590
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Something is amiss with this chorus. CMA. "Include multiplication of profits in IPO. Announce a fall in profits post listing." The IPO closed two weeks ago. Tell me, NSE was unaware of this fall in PAT? ABK Sehemu ndio nyumba
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Rank: Veteran Joined: 4/16/2014 Posts: 1,420 Location: Bohemian Grove
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are we going to have a britank situation when the shares start trading?
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Rank: Elder Joined: 12/7/2012 Posts: 11,908
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Kenya corporate governance is rotten to the core and regulators let such pass without blinking! In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Elder Joined: 6/2/2011 Posts: 4,818 Location: -1.2107, 36.8831
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whiteowl wrote:are we going to have a britank situation when the shares start trading? In this one, i, @dunkang, authoritatively answers you, NEVER! A slight fall or slight increase, but not what we witnessed during the BRITANK horror! Receive with simplicity everything that happens to you.” ― Rashi
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Rank: Elder Joined: 7/21/2010 Posts: 6,183 Location: nairobi
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Who can i see to cancel my application before allocation?hahahaaa "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Member Joined: 5/28/2014 Posts: 149 Location: Nairobi
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Mainat wrote:Something is amiss with this chorus. CMA.
"Include multiplication of profits in IPO. Announce a fall in profits post listing."
The IPO closed two weeks ago. Tell me, NSE was unaware of this fall in PAT?
ABK In the previous discussion on whether or not the NSE was a good buy some wise old soul predicted this...a profit warning that comes soon after listing. This seems to be the general script here. Did they issue a profit warning? Or is this not a requirement until they are 'listed'? Or not a half-year results requirement? ION - Peter Mwangi has got himself a new plum job - he will be the new Old Mutual CEO from 1 October 2014. When you live for others' opinions, you are dead.
- Carlos Slim Helu
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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Excellent performance. Business income streams are up. PBT up 46% (adjusted for the one off bad debt recovery).
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Rank: Elder Joined: 7/21/2010 Posts: 6,183 Location: nairobi
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Lets hope it will be hugely over subscribed we share any loses,another monkey dressed like a sheep and sold. "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Elder Joined: 7/21/2010 Posts: 6,183 Location: nairobi
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The link?we read "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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Rank: Member Joined: 5/28/2014 Posts: 149 Location: Nairobi
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mlennyma wrote:The link?we read Quick analysis in a Kestrel Capital note: "The Nairobi Securities Exchange (NSE) has announced its 1H14 results for the period ending June, recording a 30.6% y/y decline in PAT to KES 107.3m. The results are in line with our expectations. The subdued performance was on the back of one-off income of KES 115.0m from the recovery of doubtful debts, that was recognized in 1H13 and not 1H14. The effect of the one-off income was a 29.3% y/y decline in PBT to KES 158.3m. Total income grew 25.9% y/y to KES 353.2m, mainly driven by higher equity market turnover (+37.0% y/y to KES 201.0bn) which led to higher commissions earned." However, you can get the unaudited half year results from this page. https://www.nse.co.ke/li...mpany-announcements.html When you live for others' opinions, you are dead.
- Carlos Slim Helu
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Rank: Chief Joined: 1/3/2007 Posts: 18,121 Location: Nairobi
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Didn't many Wazuans say there is a chance of a "Profit Warning" unless activity really picks up in 2H 2014. Also check what @sang252 had said on Twitter. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 7/11/2010 Posts: 5,040
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VituVingiSana wrote:Didn't many Wazuans say there is a chance of a "Profit Warning" unless activity really picks up in 2H 2014. Also check what @sang252 had said on Twitter. I'm glad I stayed out. I don't think it will tank on listing there's too much appetite for rights and Ipo. I like it a good long term stock when dust settles The investor's chief problem - and even his worst enemy - is likely to be himself
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Rank: Member Joined: 3/14/2012 Posts: 577 Location: Nairobi Kenya
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wah! hope people don't get slaughtered.For those not in the mbus, it will be interesting to watch the trend post-listing Before I die - i will touch the sky!!
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Rank: Veteran Joined: 10/17/2008 Posts: 1,234
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The Prospectus was very clear that last 2013 profits included a one-off debt recovery of Kshs 115 million. If you did not factor this and the inevitable decline of profits in 2014, shauri yako.
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Rank: Member Joined: 5/8/2013 Posts: 386 Location: Nyali mombasa
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I can hold on to my 500 shares untill kingdom comes,bought minimum because of refund chaos chances, N.S.E did nonesha th bull before being sold
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Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
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Only a seriously dumb investor did not see this coming! Yaani those who invested without reading the prospectus... Results in line with seasoned investors expectations! I cannot wait for panic sellers... These shares are for my grandchildren! Mark 12:29
Deuteronomy 4:16
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Rank: Elder Joined: 2/26/2008 Posts: 4,449
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It was clear that you'd need to use more conservative estimates as compared to last year for growth going forward. They did well to release the results during this pre-listing period.It will not tank.
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Rank: Member Joined: 3/15/2009 Posts: 360
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Good performamnce, no suprises here.
Full year results will be better as we expect a no. of brokers to be licensed @ 25mil each (saw somewhere kcb, barclays and ecobank as being very interested) and then we will see a bump in interest income and a reduction in interest expense due to the proceeds of the ipo(they will have an extra 620mil for four months this year)
thats just short term, with the discoveries tullow oil is making, its listing is a matter of when, that ladies and gentlement will be the game changer.
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NSE PAT down by 30.6%
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