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kengen full year profit up 3.3%
Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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murchr wrote:MaichBlack wrote:Pesa Nane wrote:MaichBlack wrote:Pesa Nane wrote:I don't remember a profit warning for this thing or? Seriousl!?? Why would there be a profit warning???? To warn people that the profit will increase by 3.3%?? A company is required to issue a warning if it anticipates that it financial performance is going to drop by more than 25%. The PAT declined to Kshs. 2,827 Million from Kshs. 5,225 Million of the previous year. That's more than 25% drop, right? That's a tricky one! Our CMA being who they are, I'm sure they were not specific if the rule applies to PAT or PBT! Kengen's PBT rose marginally but PAT dropped due to lapse in tax breaks. Don't be suprised if CMA didn't anticipate such a scenario. Remember last years results included a tax rebate @MaichBlack, PBT in this context would be meaningless. Just like saying profit before lease payment, salaries, expenses @murchr, yeah I remember a tax credit of Kshs. 1,197 Million. How does that cancel out requirement for a profit warning? Pesa Nane plans to be shilingi when he grows up.
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Pesa Nane wrote:murchr wrote:MaichBlack wrote:Pesa Nane wrote:MaichBlack wrote:Pesa Nane wrote:I don't remember a profit warning for this thing or? Seriousl!?? Why would there be a profit warning???? To warn people that the profit will increase by 3.3%?? A company is required to issue a warning if it anticipates that it financial performance is going to drop by more than 25%. The PAT declined to Kshs. 2,827 Million from Kshs. 5,225 Million of the previous year. That's more than 25% drop, right? That's a tricky one! Our CMA being who they are, I'm sure they were not specific if the rule applies to PAT or PBT! Kengen's PBT rose marginally but PAT dropped due to lapse in tax breaks. Don't be suprised if CMA didn't anticipate such a scenario. Remember last years results included a tax rebate @MaichBlack, PBT in this context would be meaningless. Just like saying profit before lease payment, salaries, expenses @murchr, yeah I remember a tax credit of Kshs. 1,197 Million. How does that cancel out requirement for a profit warning? I think it was assumed that since the jump in profit last year was a one off event then there was no need of declaring a profit warning. If anything last years PBT went down. My issue is that since they need the cash, they shouldn't have given dividends. a bonus would do "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: Chief Joined: 1/3/2007 Posts: 18,349 Location: Nairobi
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murchr wrote:Pesa Nane wrote:murchr wrote:MaichBlack wrote:Pesa Nane wrote:MaichBlack wrote:Pesa Nane wrote:I don't remember a profit warning for this thing or? Seriousl!?? Why would there be a profit warning???? To warn people that the profit will increase by 3.3%?? A company is required to issue a warning if it anticipates that it financial performance is going to drop by more than 25%. The PAT declined to Kshs. 2,827 Million from Kshs. 5,225 Million of the previous year. That's more than 25% drop, right? That's a tricky one! Our CMA being who they are, I'm sure they were not specific if the rule applies to PAT or PBT! Kengen's PBT rose marginally but PAT dropped due to lapse in tax breaks. Don't be suprised if CMA didn't anticipate such a scenario. Remember last years results included a tax rebate @MaichBlack, PBT in this context would be meaningless. Just like saying profit before lease payment, salaries, expenses @murchr, yeah I remember a tax credit of Kshs. 1,197 Million. How does that cancel out requirement for a profit warning? I think it was assumed that since the jump in profit last year was a one off event then there was no need of declaring a profit warning. If anything last years PBT went down. My issue is that since they need the cash, they shouldn't have given dividends. a bonus would do KenGen should have sent out a Profit Warning. And the CMA, as usual, was busy sleeping on the job. Those seminars in Naivasha and Diani can be tiring. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 12/4/2009 Posts: 10,808 Location: NAIROBI
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@VituVingiSana There is nothing to warrant a profit issue warning. There was no more than 25% drop in the trading profits. Growth was a 3.3%. Tax credits are one off things which today they will be there and tomorrow missing Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 1/3/2007 Posts: 18,349 Location: Nairobi
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Ericsson wrote:@VituVingiSana
There is nothing to warrant a profit issue warning.
There was no more than 25% drop in the trading profits.
Growth was a 3.3%.
Tax credits are one off things which today they will be there and tomorrow missing OK, if you say so. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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Ericsson wrote:@VituVingiSana
There is nothing to warrant a profit issue warning.
There was no more than 25% drop in the trading profits.
Growth was a 3.3%.
Tax credits are one off things which today they will be there and tomorrow missing Reading Capital Markets (Securities)(Public Offers, Listing and Disclosure) Regulations, 2002 A profit warning should be issued in all cases where there is more than a 25% decline in earnings, which no exceptions.
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Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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VituVingiSana wrote:Ericsson wrote:@VituVingiSana
There is nothing to warrant a profit issue warning.
There was no more than 25% drop in the trading profits.
Growth was a 3.3%.
Tax credits are one off things which today they will be there and tomorrow missing OK, if you say so.  Pesa Nane plans to be shilingi when he grows up.
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Rank: Member Joined: 5/6/2014 Posts: 268 Location: Nairobi, Kenya
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Pesa Nane wrote:VituVingiSana wrote:Ericsson wrote:@VituVingiSana
There is nothing to warrant a profit issue warning.
There was no more than 25% drop in the trading profits.
Growth was a 3.3%.
Tax credits are one off things which today they will be there and tomorrow missing OK, if you say so. Is it possible to know KEGN's NAV?
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Rank: Elder Joined: 7/11/2010 Posts: 5,040
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Akenyan2014 wrote:Pesa Nane wrote:VituVingiSana wrote:Ericsson wrote:@VituVingiSana
There is nothing to warrant a profit issue warning.
There was no more than 25% drop in the trading profits.
Growth was a 3.3%.
Tax credits are one off things which today they will be there and tomorrow missing OK, if you say so. Is it possible to know KEGN's NAV? we'll its not home afrika, so yes. was 24.00 bob when I used to follow it 2yrs ago The investor's chief problem - and even his worst enemy - is likely to be himself
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Rank: Chief Joined: 1/3/2007 Posts: 18,349 Location: Nairobi
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Aguytrying wrote:Akenyan2014 wrote:Pesa Nane wrote:VituVingiSana wrote:Ericsson wrote:@VituVingiSana
There is nothing to warrant a profit issue warning.
There was no more than 25% drop in the trading profits.
Growth was a 3.3%.
Tax credits are one off things which today they will be there and tomorrow missing OK, if you say so. Is it possible to know KEGN's NAV? we'll its not home afrika, so yes. was 24.00 bob when I used to follow it 2yrs ago The 'problem' with a utility's NAV is that hardly anyone will pay the full NAV/Book Value for the assets since the chance to earn a decent ROI [due to regulation] is limited vs a bank. The advantage utilities have is they can attract massive loans/leveraging since their cashflow is better than many businesses. The problem is the cost of the leveraging. In Kenya, when GoK give you 11% [tax-free] why would you take less than 14% pre-tax? Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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kengen full year profit up 3.3%
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