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Centum FY2016 div comeback 1/- net profit +25%
Rank: Member Joined: 1/31/2007 Posts: 304
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Ericsson wrote:Centum sales stakes in profitable companies it owns e.g AON Minet then distributes the realised profits to employees as bonus.
Killing the goose that lays the golden egg.
@VVS
I own no stake in Centum.The last shares I used to own exited in 2013.
Hii ni moto ya kuotea mbali Seconded..you cant keep selling things every year to make mega profits,soon you will run out of things to sell,then what??.Where will the mega profits come from??? Their premier investment,the two rivers mall,is way way behind schedule and this delay has everything to do with cashflow,their sell off's in this investment has also been necessitated by cash flow problems.Then to add insult to injury you give employees Ksh600M as bonus..what the hell? You need to have balls of steel to remain in this..Clearly sheep are being led to the slaughter
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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"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: Elder Joined: 12/25/2014 Posts: 2,300 Location: kenya
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mlennyma wrote:enyands wrote:Plimsoul wrote:Centum is using the bonuses for employee retention. Except the team looks different every year based on annual reports and introductions at the briefings. Plimsoul with all the due respect I have are they the only employees in kenya who are qualified with top cream brain? I think this is just an excuse to fatten the employees ..that's how i see it this smells like an ethnic grouping enriching itself,i doubt this generosity can just be given to the normal employee I know the MD of one of tier one bank used to get a dividend of 30M+ every year as bonus to his account.this is an MD/CEO we are talking ok. Now back to these guys of top cream employees,i don't understand how each one of the employees gets an avarage of 12m+ BONUSES . How many MDs have they employed in centum to recieve such. Anyway I'm done ranting . It's not my company ,waiting for it at 50 and I'm out .that's all for now
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Rank: Elder Joined: 12/4/2009 Posts: 10,702 Location: NAIROBI
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@mlennyma I concur with you the employees profile of the company just shows it's an ethnic grouping enriching itself Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/25/2014 Posts: 2,300 Location: kenya
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The 400m bonus for employee to make it 1b (on top of 600m) I had a suspicion it will be hidden here inform of hideous costs It's coming to pass now .
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Rank: Elder Joined: 9/20/2015 Posts: 2,811 Location: Mombasa
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enyands wrote:Who cares if employees get alot of bonuses if the shareholders are also rewarded the same. In centum the employees are rewarded more than their employers/shareholders. Warren Buffet is in usa we are in kenya so comparing the two is a Disneyland fantasy.
Bottom line is what they are doing doesn't feel right in my stomach. Tribalism! Tribalism! Tribalism! Since you are from my ethnic cocoon, you are obviously qualified for billions of executive perks, bonuses and other emoluments. Ukabila utawaua waKenya jameni. If the big fish is your tribesman you automatically qualify for appointments to lead major corporations. Hiyo si siri. Angalia nearly all organisations are run by men and women from one community right from top to bottom levels. I don't know how they manipulate their way forcefully up the ladder. But as for me I don't care as I know I am smart of pushing my way up the hierarchy of success without a godfather. I am only concerned of the weak brothers and sisters out there instead of getting protection are ruthlessly exploited .Shafting continues... John 5:17 But Jesus replied, “My Father is always working, and so am I.”
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Rank: Elder Joined: 12/25/2014 Posts: 2,300 Location: kenya
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Spikes wrote:enyands wrote:Who cares if employees get alot of bonuses if the shareholders are also rewarded the same. In centum the employees are rewarded more than their employers/shareholders. Warren Buffet is in usa we are in kenya so comparing the two is a Disneyland fantasy.
Bottom line is what they are doing doesn't feel right in my stomach. Tribalism! Tribalism! Tribalism! Since you are from my ethnic cocoon, you are obviously qualified for billions of executive perks, bonuses and other emoluments. Ukabila utawaua waKenya jameni. If the big fish is your tribesman you automatically qualify for appointments to lead major corporations. Hiyo si siri. Angalia nearly all organisations are run by men and women from one community right from top to bottom levels. I don't know how they manipulate their way forcefully up the ladder. But as for me I don't care as I know I am smart of pushing my way up the hierarchy of success without a godfather. I am only concerned of the weak brothers and sisters out there instead of getting protection are ruthlessly exploited .Shafting continues... Your team therapy is bearing fruits  for once you are positive jamaa.but you made alot of sense
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Rank: Elder Joined: 12/4/2009 Posts: 10,702 Location: NAIROBI
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GOK owns 23.6% of CENTUM via ICDC.Why can't they intervene and stop this madness and outright cannibalisation of this company by the leadership. If they are intervening in KQ same should be made here before a shell is left and taxpayers are then told to foot the bill to bail it out. During former president Kibaki's tenure Mworia and DJ would never have thought of giving out such obscene bonuses to employees whom we don't see anything extra-ordinary from them. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/25/2014 Posts: 2,300 Location: kenya
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Ericsson wrote:GOK owns 23.6% of CENTUM via ICDC.Why can't they intervene and stop this madness and outright cannibalisation of this company by the leadership.
If they are intervening in KQ same should be made here before a shell is left and taxpayers are then told to foot the bill to bail it out.
During former president Kibaki's tenure Mworia and DJ would never have thought of giving out such obscene bonuses to employees whom we don't see anything extra-ordinary from them. Tyranny of numbers should be blamed sir.
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Rank: Member Joined: 1/1/2010 Posts: 511 Location: kandara, Murang'a
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Ericsson wrote:GOK owns 23.6% of CENTUM via ICDC.Why can't they intervene and stop this madness and outright cannibalisation of this company by the leadership.
If they are intervening in KQ same should be made here before a shell is left and taxpayers are then told to foot the bill to bail it out.
During former president Kibaki's tenure Mworia and DJ would never have thought of giving out such obscene bonuses to employees whom we don't see anything extra-ordinary from them. To translate in Swahili, SERIKALI SAIDIA Foresight..
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Rank: Member Joined: 8/27/2015 Posts: 138 Location: Harare
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Taking the focus away from the bonus to the results. My reading of the financial excerpts on the investor presentation and PY FS indicates that they're now consolidating Almasi for FY 16 after obtaining control on 31 March 2015. 1.What would be the effect of this going forward given that FCMG business is strongly linked to the economic cycles and maybe affected by the upcoming election? 2.Given the control date of 31 March 2015, the Almasi beverage sales were not included in the 2015 PnL but on the 2015 BS it was treated as a subsidiary. Question is was the Almasi operating cashflow included in the CF statement in 2015? Is there a good accountant who can assist me in understanding how the cashflows of Almasi were treated in FY 15 vs FY 16? Investment philosophy development in progress...
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Rank: Chief Joined: 1/3/2007 Posts: 18,121 Location: Nairobi
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alotoftalk wrote:Taking the focus away from the bonus to the results. My reading of the financial excerpts on the investor presentation and PY FS indicates that they're now consolidating Almasi for FY 16 after obtaining control on 31 March 2015.
1.What would be the effect of this going forward given that FCMG business is strongly linked to the economic cycles and maybe affected by the upcoming election?
2.Given the control date of 31 March 2015, the Almasi beverage sales were not included in the 2015 PnL but on the 2015 BS it was treated as a subsidiary. Question is was the Almasi operating cashflow included in the CF statement in 2015? Is there a good accountant who can assist me in understanding how the cashflows of Almasi were treated in FY 15 vs FY 16? Almasi (Soft drinks and water) is in an industry that does OK in both good times and bad. A soda is an affordable luxury for many. Warren Buffett is a fan of Coke. It gives him dividends every year. If I had the ability or opportunity to buy shares in Almasi, I would do so... I am not an accountant but I may be able to help. That said, if someone can help clarify/add/correct to my explanation, please do so. If Almasi was "taken over" [50%+] on 31st March 2015 then it became a subsidiary on 31st March 2015. The P&L should have recognized the sales and profits from 1 Apr 2015. There should be an entry in the P&L (PAT) for "Minority Shareholders/Interests" and in the BS for "Minority Interests" under Shareholder Funds. The cashflow of a subsidiary flows through the Group's Cashflow Statement. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Chief Joined: 1/3/2007 Posts: 18,121 Location: Nairobi
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Ericsson wrote:7.5% and hakuna asset stripping Centum style Does NSSF offer 7.5% annually? Or does it change every year? If GoK offers 13% on Tax-free Infrastructure Bonds then NSSF is conning you. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Chief Joined: 1/3/2007 Posts: 18,121 Location: Nairobi
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enyands wrote:Who cares if employees get alot of bonuses if the shareholders are also rewarded the same. In centum the employees are rewarded more than their employers/shareholders. Warren Buffet is in usa we are in kenya so comparing the two is a Disneyland fantasy.
Bottom line is what they are doing doesn't feel right in my stomach. Then sell. A maxim of Warren Buffett is that you should trust the management. I do not buy GoK controlled firms (except KenRe) coz I do not trust those appointed by godfathers. No KPLC, KenGen, KQ, NBK and even KCB for me. No merali firms. No matu family firms. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Chief Joined: 1/3/2007 Posts: 18,121 Location: Nairobi
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Ericsson wrote:GOK owns 23.6% of CENTUM via ICDC.Why can't they intervene and stop this madness and outright cannibalisation of this company by the leadership.
If they are intervening in KQ same should be made here before a shell is left and taxpayers are then told to foot the bill to bail it out.
During former president Kibaki's tenure Mworia and DJ would never have thought of giving out such obscene bonuses to employees whom we don't see anything extra-ordinary from them. Centum makes money. It doesn't ask for a bailout. KQ loses money. For years. Lots of it. I would rather GoK stayed away from Centum. GoK should also sell off (or not vote) shares in NBK, KCB, KQ, KenRe, etc. Look at Safaricom where GoK isn't allowed to interfere by Vodacom. Now compare to KQ, NBK, etc. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 6/23/2009 Posts: 13,548 Location: nairobi
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VituVingiSana wrote:Ericsson wrote:GOK owns 23.6% of CENTUM via ICDC.Why can't they intervene and stop this madness and outright cannibalisation of this company by the leadership.
If they are intervening in KQ same should be made here before a shell is left and taxpayers are then told to foot the bill to bail it out.
During former president Kibaki's tenure Mworia and DJ would never have thought of giving out such obscene bonuses to employees whom we don't see anything extra-ordinary from them. Centum makes money. It doesn't ask for a bailout. KQ loses money. For years. Lots of it. I would rather GoK stayed away from Centum. GoK should also sell off (or not vote) shares in NBK, KCB, KQ, KenRe, etc. Look at Safaricom where GoK isn't allowed to interfere by Vodacom. Now compare to KQ, NBK, etc. KQ badly needs GoK. I would not invest in KQ without govt significant holding
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 9/20/2015 Posts: 2,811 Location: Mombasa
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obiero wrote:VituVingiSana wrote:Ericsson wrote:GOK owns 23.6% of CENTUM via ICDC.Why can't they intervene and stop this madness and outright cannibalisation of this company by the leadership.
If they are intervening in KQ same should be made here before a shell is left and taxpayers are then told to foot the bill to bail it out.
During former president Kibaki's tenure Mworia and DJ would never have thought of giving out such obscene bonuses to employees whom we don't see anything extra-ordinary from them. Centum makes money. It doesn't ask for a bailout. KQ loses money. For years. Lots of it. I would rather GoK stayed away from Centum. GoK should also sell off (or not vote) shares in NBK, KCB, KQ, KenRe, etc. Look at Safaricom where GoK isn't allowed to interfere by Vodacom. Now compare to KQ, NBK, etc. KQ badly needs GoK. I would not invest in KQ without govt significant holding GoK involvement comes with consequences including conversion of debt to equity and political expediency. John 5:17 But Jesus replied, “My Father is always working, and so am I.”
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Rank: Member Joined: 5/14/2014 Posts: 288 Location: nairobi
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is this company so awash with cash till they couldnt wait for 2019 to issue a dividend. Did they have to sell the mall,Aon to pay dividends I find satisfaction in owning great business,not trading them
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Rank: Member Joined: 8/27/2015 Posts: 138 Location: Harare
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VituVingiSana wrote:alotoftalk wrote:Taking the focus away from the bonus to the results. My reading of the financial excerpts on the investor presentation and PY FS indicates that they're now consolidating Almasi for FY 16 after obtaining control on 31 March 2015.
1.What would be the effect of this going forward given that FCMG business is strongly linked to the economic cycles and maybe affected by the upcoming election?
2.Given the control date of 31 March 2015, the Almasi beverage sales were not included in the 2015 PnL but on the 2015 BS it was treated as a subsidiary. Question is was the Almasi operating cashflow included in the CF statement in 2015? Is there a good accountant who can assist me in understanding how the cashflows of Almasi were treated in FY 15 vs FY 16? Almasi (Soft drinks and water) is in an industry that does OK in both good times and bad. A soda is an affordable luxury for many. Warren Buffett is a fan of Coke. It gives him dividends every year. If I had the ability or opportunity to buy shares in Almasi, I would do so... I am not an accountant but I may be able to help. That said, if someone can help clarify/add/correct to my explanation, please do so. If Almasi was "taken over" [50%+] on 31st March 2015 then it became a subsidiary on 31st March 2015. The P&L should have recognized the sales and profits from 1 Apr 2015. There should be an entry in the P&L (PAT) for "Minority Shareholders/Interests" and in the BS for "Minority Interests" under Shareholder Funds. The cashflow of a subsidiary flows through the Group's Cashflow Statement. To clarify; I fully understand the transaction from a PnL and BS perspective i.e. consolidate from date of control. In terms of operating cashflows, since these are generated from operations i.e PnL. What is the treatment of cashflows, specifically operating CF where the PnL was zero at the date of control? For Coke, Pepsi and Co, their bread and butter is becoming less and less soda due to the health wave sweeping in major markets. Kenya is an exception currently but this will catch up. The volatility on Almasi will arise from cost of inputs rather than from the revenue side. They import most of the inputs (concentrate, aluminium cans etc) from the mother-ship and other suppliers abroad unlike Coke in the US. So forex losses, disruption of transportation etc come into play. Investment philosophy development in progress...
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Rank: Elder Joined: 7/11/2010 Posts: 5,040
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GoK owns 23% of centum? There's is the missing piece of the jigsaw puzzle. The investor's chief problem - and even his worst enemy - is likely to be himself
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