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HomeAfrika 1H 2014 earnings down 58%
Rank: Chief Joined: 1/3/2007 Posts: 18,121 Location: Nairobi
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1H 2014. EPS of 8 cents. Enjoy. If it makes 12 cents in 2H = 20 cents. PER of 25x I have not calculated NAV but the results do incorporate Fair Value changes. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 9/15/2006 Posts: 3,905
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Revenues up 13% Cost of sales up (100%) Admin costs up (88%) Selling & distribution (42%) Even fair value gains on investment property down YET the board ard management are very positive about the Real Estate industry going forward - Oh my! HY EPS now 0.08 or at this trend a P/E of 62.5; right up there with Facebook 30-Jun P/E of 73. Link http://t.co/N52MqipABU
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Rank: Member Joined: 1/27/2012 Posts: 851 Location: Nairobi
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muganda wrote:Revenues up 13% Cost of sales up (100%) Admin costs up (88%) Selling & distribution (42%) Even fair value gains on investment property down YET the board ard management are very positive about the Real Estate industry going forward - Oh my! HY EPS now 0.08 or at this trend a P/E of 62.5; right up there with Facebook 30-Jun P/E of 73. Link http://t.co/N52MqipABU They better hurry up before ISIS gets to our borders and start beheading us.
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Disaster, lets see those who have the heart to hold on "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Member Joined: 3/26/2012 Posts: 830
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I have never understood why people bought, and still buy this counter. Very sad that some wazuans still bought or hold this counter. What exactly do you hope to make from a company making 8 cents a share and trading north of Ksh 5 a share really? I would never touch it until it has a single digit p/e and a good growth in earnings. There is only one way for this counter....south...in my opinion, I would value it at Ksh 1 or Ksh 2.0 at most. A successful man is not he who gets the best, it is he who makes the best from what he gets.
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Rank: Member Joined: 6/14/2010 Posts: 521 Location: Nairobi
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VituVingiSana wrote:1H 2014. EPS of 8 cents. Enjoy.
If it makes 12 cents in 2H = 20 cents.
PER of 25x
I have not calculated NAV but the results do incorporate Fair Value changes. Is it 58% or 72%? The company posted a 72 percent drop in net profit to Sh42 million in the half year to June down from Sh155 million
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Rank: Member Joined: 9/16/2006 Posts: 229
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how comes we did not have profit warning “I don’t regret the things I’ve done, I regret the things I didn’t do when I had the chance.”
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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Why we need to integrate these stocks exchanges. In Zim, ZSE there is a choice of 4 pure-play property stocks. Portfolios including commercial, hospitality, industrial, residential, office parks, land banks etc Pearl Properties http://www.pearlproperties.co.zw/
Mashonaland Holdings http://www.masholdings.co.zw/CoProfile.htm
Zimre Property Investment http://www.zimreproperties.co.zw/
Dawn Properties www.dawnproperties.co.zwFYI.
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Rank: Elder Joined: 6/2/2011 Posts: 4,818 Location: -1.2107, 36.8831
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uchumi wrote:how comes we did not have profit warning Why did you even bother buying a shitty stock in the first place? Half Year announcements are INTERIM, hence no need for warnings, advices e.t.c e.t.c. Receive with simplicity everything that happens to you.” ― Rashi
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Rank: Member Joined: 7/9/2006 Posts: 79
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uchumi wrote:how comes we did not have profit warning There's the warning, better sell when it's still 5  . Don't see any price movement upwards anytime soon. Those that want to play this can be sure to get back in at lower prices.
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Rank: Member Joined: 3/14/2012 Posts: 577 Location: Nairobi Kenya
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Fomoney wrote:uchumi wrote:how comes we did not have profit warning There's the warning, better sell when it's still 5 . Don't see any price movement upwards anytime soon. Those that want to play this can be sure to get back in at lower prices. Yeah, this counter will taste ksh 2.00 before the end of the year! Before I die - i will touch the sky!!
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Rank: Elder Joined: 12/4/2009 Posts: 10,702 Location: NAIROBI
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Home Afrika is in need of a management change to improve the fortunes.Saying change of accounting rules as the reason for the decline in profits is not sustainable. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Member Joined: 4/24/2014 Posts: 159 Location: Nairobi
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dunkang wrote:uchumi wrote:how comes we did not have profit warning Why did you even bother buying a shitty stock in the first place? Half Year announcements are INTERIM, hence no need for warnings, advices e.t.c e.t.c. I have so much of this stock  Money comes and goes. When you have it enjoy it.
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Rank: Veteran Joined: 1/4/2010 Posts: 1,668 Location: nairobi
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i have had several meetings with home afrika business development managers. my opinion is that home afrika will need to borrow heavily from how bigboys down south/botswana such as times projects do it. Their use of university students and expecting inexperienced students to come up with ground breaking solutions to low cost housing in kenya will not bear fruit. Such insights have to come from entities with hands on experiences on such matters, whether kenyan or international, eg south african. http://www.businessdaily...8/-/699qdi/-/index.html
Quote:Real estate firm Home Afrika is promising Kenyans a New Year present in the form of affordable homes costing Sh1 million for a two-bedroom unit.
The low-cost housing units are the result of a design competition run by the company in July this year that saw a prototype by University of Nairobi’s architecture students win the Sh1 million prize.
Home Afrika said 5,000 units will be built on a piece of land in Athi River with 200 houses earmarked in the first phase. “For a long time, the lower end of the market who cannot afford to buy land for construction or spend millions to purchase homes have not been viewed as profitable,” said Dr Mbira Gikonyo, the director of the Home Afrika. http://www.time.co.bw/
Quote:Established over 25 years ago, Time Projects offers a wide range of commercial and residential property services in Gaborone, Botswana.
From property management to construction and development, Time Projects has the knowledge, skills and expertise you need to help you realise your property dreams. they can use kenyan links such as willy kathurima to get insights. http://www.wka.co.bw/
Quote:About Us
Willy Kathurima Associates is an independent property valuation and estate agency company with over 22 years of experience in southern, central and east Africa property markets. The company is 100% Botswana citizen owned and managed. It was established in 1989 under the leadership of Wilferd M. Kathurima, a registered and qualified property consultant with over 25 years of international real estate valuation and consultancy experience. As Iron Sharpens Iron, So one Man Sharpens Another.
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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EPS of less than 15cts and a price of 5/- is sheer madness! The thought that it floated to 25/- on listing is madness utopia. Everytime I look at this stock I wonder why NSE doesn't have short selling. Short sellers would have long ago brought sanity to this counter to around 1/- or lower. The same short sellers would discourage bogus listings  $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Veteran Joined: 1/4/2010 Posts: 1,668 Location: nairobi
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their kikwetu property in deep athi river has better prospects since its on the railway compared to the now dead jamii bora housing which could not have a life of its own in the middle of nowhere. Both homeafrika and jamii bora are headed by architects, with lee karuri and ingrid munroe, which is a good thing. the rest of the supporting team should be mostly professionals/players in the real estate industry eg valuers, quantity surveyors, engineers,economists etc to give a good balance. the south african real estate players have a good balance hence not short of ideas as seen in the kenyan players whom once the head/lead architects get burn out, there are no more new ideas. check out the zim reit below and see the management and their unique knowledge that investors can gain from http://www.masholdings.co.zw/CoProfile.htm
Quote:Senior Management
M Mahari MBA Gdppm Bsc (UZ)
Registered Estate Agent
Associate Chartered Institute of Arbitrators Chief Executive Officer
N Matsangura MSc Acc & Fin Man MBA ACMA ACIS AIOBZ Finance Director / Company Secretary
D Mutemachani MSc MBA BSc MRICS AREIZ Chartered Surveyor Senior Property Manager
W Manjoro ICIOB MAQS ZIQS BSc (Hons) QS Property Development Manager
A Ndlovu ICSA(Z) MSc Acc & Fin Man CIMA (Exams Complete) Accountant
Committees
There are four committees responsible to the Board, all of which are chaired by non-executive directors.
Audit Committee examines the company’s financial statements at half year and year end and approves these for submission to the Board. It also reviews the annual budget. It is responsible for ensuring compliance with International Financial Reporting Standards, the Companies Act and the requirements of the Zimbabwe Stock Exchange. It meets at least twice a year with the Company's external auditors who have unrestricted access to the Audit Committee.
Investment Committee examines all investment opportunities for the company, primarily, but not exclusive to, the property market in terms of land, buildings and development projects. It also recommends capital expenditure.
Insurance Committee reviews the sums insured of all immoveable property, assets and motor vehicles, as well as limits of liability.
Remuneration Committee reviews and recommends staff remuneration and benefits, conditions of service and overall staffing policies.
check out homeafrika think tank. http://homeafrika.com/about
Quote:Board of Directors
1. Lee Karuri – Chairman (Architect)
Lee Kariuki - Chairman Home Afrika
Mr. Lee Karuri is currently a Director of Dimensions Architects and Interior Designers,which has been a leading architectural firm in East and Central Africa from 1994 to date.
2. Dr. Mbira Gikonyo – Vice Chairman (Medical Doctor)
Mbira GikonyoDr. Mbira Gikonyo, the Vice Chairman of Home Afrika Limited has held this position since the company’s inception. Dr. Mbira is a consultant specialist medical practitioner in Nairobi.
3. Eng. Mbugua Kamau - Treasurer (Engineer)
Mbugua KamauTreasurer of Home Afrika Limited since 2008, Engineer Geoffrey Mbugua Kamau is currently the Executive Director of Pinnacle Limited, a leading provider of Quality Project Management & Finance Procurement & Management Services.
4. Lucie Maina - Secretary (Real Estate Developer )
Lucie MainaCurrently the Executive Director of Home Afrika Limited, Miss Lucie Maina is also one of the Founder members and Executive director of Angel Capital Limited, a mezzanine Finance Company.
5. Dan Awendo - Finance Committee (Finance & Business Development)
Dan AwendoThe Director of Business and Finance since the inception of Home Afrika, Dan Awendo is the Chief Executive Officer of InvesteQ CAPITAL Limited, a company involved in various areas of Business Finance.
6. Jane Adam - (Chair) Home Afrika Foundation.
Expertise: Travel Management & Operations -Tourism & Hospitality Management – Fund Raising – Philanthropy - Organizational Development & Corporate Governance – Organizational Development - Training & Mentoring - Strategic Planning
7. Nyagah Kithinji – Research and Technical Committee Chair (Quantity Surveyor, University Lecturer)
Nyagah KithinjiDirector of Research and Development Mr Nyagah Kithinji is a partner in Costwise Associates, a Quantity Surveying and Project Management Consultancy Firm. He is a lecturer at the University
of Nairobi.
8. Connie Gakonyo
9. Gilbert Kibe – Projects and Investments Committee Chair (Aviation)
Gilbert KibeDirector of Projects and Investments since January 30th 2010, Gilbert Kibe is the Managing Director of Bahati Ridge Development LTD, a property development company.
10. Ken Wathome
11. Mbugua Gecaga– Marketing Committee Chair (Marketer)
Mbugua GecagaMarketing Director since January 30th 2010, Mbugua Gecaga is the Executive Director of Mbambu communications Kenya and Clomia Enterprises (Pty) Zimbabwe.
12. Nazima Malik
Nazima MalikHead of our Legal Committee, Nazima Malik is currently a partner in the firm Kaplan & Stratton Advocates, a premier law firm in Nairobi providing a comprehensive range of legal services and solutions for domestic and international clients.
Njoroge Nganga ~ Group Chief Executive Officer Home Afrika Ltd
Mr. Njoroge who holds a Master of Science Degree in financial management from the University of London is a Chartered Financial Analyst and Certified Public Accountant.
Mr. Ng’ang’a brings to Home Afrika, a wealth of experience in the local and regional corporate arena driving strategic business initiatives spanning more than 20 years. As Iron Sharpens Iron, So one Man Sharpens Another.
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Rank: Elder Joined: 7/21/2010 Posts: 6,183 Location: nairobi
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let me sell and move on to more certain counters,this one can either burn or prosper "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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If you can't lose you can't gain but I will be bitter to see this counter past 10 in future "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Member Joined: 3/26/2012 Posts: 830
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mlennyma wrote:If you can't lose you can't gain but I will be bitter to see this counter past 10 in future That is the point when I say...YOU KILLED THAT MONEY A successful man is not he who gets the best, it is he who makes the best from what he gets.
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Rank: Member Joined: 3/26/2012 Posts: 830
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Every investor is guilty of all the money s/he killed. I killed a tidy sum in mumias some years back before cutting my losses and moving on. Entry was Ksh 5.50 and exited at Ksh 4.70 after realising the mistake. Run when you can. A successful man is not he who gets the best, it is he who makes the best from what he gets.
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HomeAfrika 1H 2014 earnings down 58%
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