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CFC-Stanbic 2009
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ProverB
#1 Posted : Monday, April 12, 2010 11:12:24 AM
Rank: Veteran


Joined: 3/12/2010
Posts: 1,199
Location: Eastlander
finally... results just got uploaded on www.nse.co.ke

time to scrutinize
..Let your light so shine before men, that they may see your good works, and glorify your Father which is in heaven...Matt5:16
- 1769 Oxford King James Bible 'Authorized Version
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mukiha
#2 Posted : Monday, April 12, 2010 11:49:34 AM
Rank: Elder


Joined: 6/27/2008
Posts: 4,114
EPS has dropped from sh3.35 to Sh0.22!!!!!!!!!!!!

Sisemi kitu.... no wonder there has been to deals today
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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guru267
#3 Posted : Monday, April 12, 2010 12:02:24 PM
Rank: Elder


Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
i couldnt believe my eyes though i read the financial statement sideways....

a company with such a large asset base should not be producing such useless results Sickamp;
Mark 12:29
Deuteronomy 4:16
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ProverB
#4 Posted : Monday, April 12, 2010 12:30:26 PM
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Teheheehehehhe..
I'm glad i stayed out.
..Let your light so shine before men, that they may see your good works, and glorify your Father which is in heaven...Matt5:16
- 1769 Oxford King James Bible 'Authorized Version
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Fundaah
#5 Posted : Monday, April 12, 2010 2:29:58 PM
Rank: Elder


Joined: 11/19/2008
Posts: 1,267
For those who are still in stocks business ...it may be good time to buy this ....This year may be better for CFC stanbic..
Isaiah 65:17-Look! I am creating new heavens and a new earth, and no one will even think about the old ones anymore
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Jaguar
#6 Posted : Monday, April 12, 2010 2:32:18 PM
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Joined: 6/7/2007
Posts: 263
Location: humu humu
@guru,you read the statement sideways? i rotated my monitor smile
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the deal
#7 Posted : Monday, April 12, 2010 3:18:15 PM
Rank: Elder


Joined: 9/25/2009
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Location: Windhoek/Nairobbery
ofcourse the results were 2009...hehehe wats the new p/e at an eps of 0.22...
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sparkly
#8 Posted : Monday, April 12, 2010 6:31:14 PM
Rank: Elder


Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
ProverB wrote:
Teheheehehehhe..
I'm glad i stayed out.


@ProverB why laugh when you should be buying this distressed share! Bet against the market now and in One year you will be laughing all the way to the Bank ... Literary.
Life is short. Live passionately.
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the deal
#9 Posted : Monday, April 12, 2010 7:08:55 PM
Rank: Elder


Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
@ sparkly true that...i have just put this stock on my watchlist for 2010...i believe its worth 60 bob when 3Q come out in november...i will give it a year...
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Flagship
#10 Posted : Monday, April 12, 2010 8:02:09 PM
Rank: New-farer


Joined: 12/17/2009
Posts: 11
guys u shd expect a positive turn ard for this counter, alot of restucturing, poaching of key/successful managers from bbk/stanchart n good expansion plans being implemented. buy if u got chumz.
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VituVingiSana
#11 Posted : Monday, April 12, 2010 10:30:49 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,136
Location: Nairobi
LOL...

NIC, DTBK, I&M each have about 50% of the balance sheet of CFC Stanbic lakini each made over 1bn PBT... way more than CFC Stanbic...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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JabaBoeku
#12 Posted : Tuesday, April 13, 2010 4:28:54 AM
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Joined: 4/28/2008
Posts: 53
Bigger does not necessarily mean better. i'd give it some time before diving in... plus poaching competitor's good staff does not immediately translate into impressive results!
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sparkly
#13 Posted : Tuesday, April 13, 2010 5:47:39 AM
Rank: Elder


Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
@jaba better buy when you got time, otherwise you end up chasing a moving bus. @vvs i think its a good time to buy the assets of this Co. I will continue to buy pole pole pole, watching the price movement. Recovery in 2010 is a certainty not a probability.
Life is short. Live passionately.
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mukiha
#14 Posted : Tuesday, April 13, 2010 6:27:06 AM
Rank: Elder


Joined: 6/27/2008
Posts: 4,114
CORRECTION: the eps is NEGATIVE sh0.22!!!

Does anyone remember what the Q3 figure was? The one available at NSE is for 2008!

And how does a PBT of +700m become a PAT of only +35m and eventually a -0.22 eps???

Now I'm dying to see the full results!

The last time this sort of thing happened was in the early 1990s to SCBK: the announced a half-year PBT of 900m and then a fully year PBT of 600m. The CEO was shown the door immediately. Perhaps the same fate should visit CFC's Group CEO. Who is it by the way?

DuToit heads the bank, but is he also the Group CEO?
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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mukiha
#15 Posted : Tuesday, April 13, 2010 6:50:27 AM
Rank: Elder


Joined: 6/27/2008
Posts: 4,114
the deal wrote:
ofcourse the results were 2009...hehehe wats the new p/e at an eps of 0.22...


New P/E is -195

Not bad if you think about what it means: If you buy the stock today at sh43 and everything remains the same, it will take 195 years for the losses to completely eat away your investment...
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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the deal
#16 Posted : Tuesday, April 13, 2010 7:00:22 AM
Rank: Elder


Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
@ mukiha asante...i'm getting in...i think cfc should ship du toit back to southern africa...i think he will do better there...then hire a competent kenyan c.e.o...
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guru267
#17 Posted : Tuesday, April 13, 2010 7:16:25 AM
Rank: Elder


Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
i think this company is a good one to enter into but i might have to wait until the panic sellers and speculators drive its price down a bit more...

one thing one has to know about CFC is that it is very dependent on the fortunes and turnover at the NSE which have been tremendous in the first quarter...
Mark 12:29
Deuteronomy 4:16
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mukiha
#18 Posted : Tuesday, April 13, 2010 7:19:29 AM
Rank: Elder


Joined: 6/27/2008
Posts: 4,114
@the Deal; I've just found out that as of Dec 2008, Mr. K Mbathi was the group CEO. du Toit is an ordinary director and CEO of the bank.

This group is too convoluted! I thought I understood it, but I'm not so sure now. Check out it's website and you'll see what I mean.

I look forward to the day it concludes the de-convolution. It should actually split into three entities: a commercial bank, an investment bank and an insurance company.
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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the deal
#19 Posted : Tuesday, April 13, 2010 7:40:52 AM
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Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
@ mukiha what of liberty life south africa(also owned by standard bank sa) taking a controlling and strategic stake in the insurance business and then the listing of it as a separate entity on the nse...how far have they gone with that?
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Wa_ithaka
#20 Posted : Tuesday, April 13, 2010 8:34:25 AM
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Joined: 1/7/2010
Posts: 1,279
Location: nbi
Financial mergers rarely work out
The Governor of Nyeri - 2017
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