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EA Portland Cement FY15 Results
Rank: User Joined: 1/20/2014 Posts: 3,528
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Magnate wrote:30th Nov has passed .No report yet.Aiii... The Board placed adverts in the papers (last and this week) that they have been allowed/authorised by CMA to extend and release the results by 8th December 2015.  Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
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Rank: Member Joined: 9/16/2006 Posts: 229
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Where are the results? Today is 8th “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: Member Joined: 11/1/2013 Posts: 257
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uchumi wrote:Where are the results? Today is 8th Bandia firm! No diagnosis,no pragnosis,no pragnosis no profit......Jesse livermore
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Rank: User Joined: 1/20/2014 Posts: 3,528
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if @mpesa 8 has not posted, just know they are not yet out. Jikoni kwa oven sasa ........ revaluation of assets Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
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Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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Rank: Veteran Joined: 7/1/2014 Posts: 903 Location: sky
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still on loss profit ksh 7,157,070 fair value gain ksh 7,273,113 the chef tried to balance There are only two emotions in the stock market, fear and hope. The problem is, you hope when you should fear and fear when you should hope
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Rank: Elder Joined: 12/4/2009 Posts: 10,702 Location: NAIROBI
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No wonder hakuna dividend declared to shareholder. The company's major business is now becoming land trading Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 7/21/2010 Posts: 6,183 Location: nairobi
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Ericsson wrote:No wonder hakuna dividend declared to shareholder.
The company's major business is now becoming land trading their land near athi river has been invaded by wanjikus and they have issued warning to evict them "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Elder Joined: 6/2/2011 Posts: 4,818 Location: -1.2107, 36.8831
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Yaani we have reached this point now. You make a loss in your operations but SGR and Land Revaluation makes you 7 Billions! Receive with simplicity everything that happens to you.” ― Rashi
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Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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Quote:PERFORMANCE
The company’s turnover decreased by 7% largely attributtable to prolonged plant shutdown undertaken in October to December 2014 to install a new dust management plant in compliance with NEMA regulations; and also to upgrade the rest of the plant in order to fix persitent equipment breakdowns. Coupled with this was the continued erosion of cement prices which reduced by about 5% during the year. Concequently, Gross profit reduced from 26% prior year to close at 22% in the current year mainly due to reliance on the more expensive purchased clinker during the prolonged plant shut down. Approximately Kshs 1.1 Billion was spent on purchased clinker during the prolonged plant shut down resulting to an operating loss of Kshs 577 Million. Selling and administrative expenses reduced by 6% in line with the tight cost management
adopted during the period saving approximately Kshs 200 Million. Finance costs went up by 16% due to the use of debt capital to finance the development projects for the new packing line and feeding lines for the cement mills. The profit before tax of Kshs 7.3 Billion was boosted by Kshs 174 Million foreign exchange gain, Kshs 836 Million realised gain on disposal of a parcel of land compulsorily acquired for the Standard
Gauge Railway (SGR) project and Kshs 7.2 Billion revaluation gain on investment property in accordance with the International Financial Reporting Standards. The investment property consisting of two parcels of land in Athi River was valued at shs. 9.4 Billion up from shs. 2.25 Billion the previous year. Increase in value is mainly attributable to the compensation rates for SGR positively impacting land values in the affected areas. Part of the land has been invaded and the company is pursuing legal channels to evict the invaders. This includes press notices warning the public that the land is not for sale. Relevant government agencies including EACC have been notified. hata spell check jameni Pesa Nane plans to be shilingi when he grows up.
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Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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Quote:FUTURE OUTLOOK
The cement industry remains very competive with over six major players. However, the construction sector continues to grow driven by the ongoing major infrastructural projects and fast expanding real estate sector. The Company expects to benefit from this increasing demand by leveraging on the additional capacity brought about by the recently completed new cement packing line and cement mills feeding system.
The company has moved to improve plant performance through a Technical Support Services Agreement with Lafarge-Holcim signed in June 2015 and the hiring of a Chief Operations Officer.
Other investments lined up to improve production include
installation of a new clinker cooler for the kiln expected in first quarter 2016 designed to stabilize clinker production.
The competition in the industry is expected to keep prices relatively low due to installed cement production over-capacity in the foreeable future. The focus in the coming financial year will continue to be pegged on increased value chain improvements, cost reduction and increased efficiencies in production and manufacturing processes in
order to keep the costs low and improve margins. These actions should bear fruit in the coming periods. Pesa Nane plans to be shilingi when he grows up.
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Rank: Elder Joined: 7/21/2010 Posts: 6,183 Location: nairobi
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Pesa Nane wrote:Quote:PERFORMANCE
The company’s turnover decreased by 7% largely attributtable to prolonged plant shutdown undertaken in October to December 2014 to install a new dust management plant in compliance with NEMA regulations; and also to upgrade the rest of the plant in order to fix persitent equipment breakdowns. Coupled with this was the continued erosion of cement prices which reduced by about 5% during the year. Concequently, Gross profit reduced from 26% prior year to close at 22% in the current year mainly due to reliance on the more expensive purchased clinker during the prolonged plant shut down. Approximately Kshs 1.1 Billion was spent on purchased clinker during the prolonged plant shut down resulting to an operating loss of Kshs 577 Million. Selling and administrative expenses reduced by 6% in line with the tight cost management
adopted during the period saving approximately Kshs 200 Million. Finance costs went up by 16% due to the use of debt capital to finance the development projects for the new packing line and feeding lines for the cement mills. The profit before tax of Kshs 7.3 Billion was boosted by Kshs 174 Million foreign exchange gain, Kshs 836 Million realised gain on disposal of a parcel of land compulsorily acquired for the Standard
Gauge Railway (SGR) project and Kshs 7.2 Billion revaluation gain on investment property in accordance with the International Financial Reporting Standards. The investment property consisting of two parcels of land in Athi River was valued at shs. 9.4 Billion up from shs. 2.25 Billion the previous year. Increase in value is mainly attributable to the compensation rates for SGR positively impacting land values in the affected areas. Part of the land has been invaded and the company is pursuing legal channels to evict the invaders. This includes press notices warning the public that the land is not for sale. Relevant government agencies including EACC have been notified. hata spell check jameni shareholders are left with paragraphs to read after men crack deals "Don't let the fear of losing be greater than the excitement of winning."
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Rank: User Joined: 1/20/2014 Posts: 3,528
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quote] PERFORMANCEThe company’s turnover decreased by 7% largely.[/quote] quote] PERFORMANCESelling and administrative expenses reduced by 6% in line with the tight cost management adopted during the period saving approximately Kshs 200 Million.[/quote] Shafting Wanjiko with fake statements Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
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Rank: Veteran Joined: 4/16/2014 Posts: 1,420 Location: Bohemian Grove
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Othelo wrote:quote]PERFORMANCE
The company’s turnover decreased by 7% largely. quote] PERFORMANCESelling and administrative expenses reduced by 6% in line with the tight cost management adopted during the period saving approximately Kshs 200 Million.[/quote] Shafting Wanjiko with fake statements [/quote] They've decided to go the NBK way.Share price won't improve coz those figures are suspect.
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Rank: Chief Joined: 1/3/2007 Posts: 18,121 Location: Nairobi
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Fake results. While ARM is growing sales/volumes at double digits, this bandia firm is losing sales & market share. It will take quite a bit of time to evict the squatters and until then the land is worth little. Plus GoK may order EAPCC to stand down on the evictions for political reasons. 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: 10,702 Location: NAIROBI
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@VituVingiSana True I wonder who still has shares in this company Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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mlennyma wrote:Pesa Nane wrote:Quote:PERFORMANCE
The company’s turnover decreased by 7% largely attributtable to prolonged plant shutdown undertaken in October to December 2014 to install a new dust management plant in compliance with NEMA regulations; and also to upgrade the rest of the plant in order to fix persitent equipment breakdowns. Coupled with this was the continued erosion of cement prices which reduced by about 5% during the year. Concequently, Gross profit reduced from 26% prior year to close at 22% in the current year mainly due to reliance on the more expensive purchased clinker during the prolonged plant shut down. Approximately Kshs 1.1 Billion was spent on purchased clinker during the prolonged plant shut down resulting to an operating loss of Kshs 577 Million. Selling and administrative expenses reduced by 6% in line with the tight cost management
adopted during the period saving approximately Kshs 200 Million. Finance costs went up by 16% due to the use of debt capital to finance the development projects for the new packing line and feeding lines for the cement mills. The profit before tax of Kshs 7.3 Billion was boosted by Kshs 174 Million foreign exchange gain, Kshs 836 Million realised gain on disposal of a parcel of land compulsorily acquired for the Standard
Gauge Railway (SGR) project and Kshs 7.2 Billion revaluation gain on investment property in accordance with the International Financial Reporting Standards. The investment property consisting of two parcels of land in Athi River was valued at shs. 9.4 Billion up from shs. 2.25 Billion the previous year. Increase in value is mainly attributable to the compensation rates for SGR positively impacting land values in the affected areas. Part of the land has been invaded and the company is pursuing legal channels to evict the invaders. This includes press notices warning the public that the land is not for sale. Relevant government agencies including EACC have been notified. hata spell check jameni shareholders are left with paragraphs to read after men crack deals yeah this is a cashcow for some plundering cartels. just from looking at this report, there is a lot of activity and procurements upgrading this, upgrading that, installing this, installing that, purchasing this, purchasing that, revaluing this, revaluing that... all leading to a 1B loss from ordinary business and no improvement in efficiency. This share is heaven for tenderprenuers but hell for investors. Life is short. Live passionately.
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Rank: Chief Joined: 1/3/2007 Posts: 18,121 Location: Nairobi
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In Kenya, the profession/investment that really pays off is becoming a Tenderpreneur. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Veteran Joined: 4/16/2014 Posts: 1,420 Location: Bohemian Grove
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VituVingiSana wrote:In Kenya, the profession/investment that really pays off is becoming a Tenderpreneur. And another reason why long term investing doesn't work out well in the NSE.With the exception of very few (around 5) companies, the rest are about price oscillations regardless of the corresponding financial results.
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Indeed financial accounting fraud is a national security threat! Nothing has changed since this article. http://www.businessdaily...04/-/81jaoy/-/index.html$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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