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Kenya Re 2009 results
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Mkimwa
#1 Posted : Thursday, April 29, 2010 2:06:44 PM
Rank: Member


Joined: 10/26/2008
Posts: 380
2009 full year results;

EPS down from 2.5 to 2.21
Profit down from 1.5bn to 1.328bn

Lets see how the market will react. Was H2 that terrible? their H1 numbers were looking good.

Expected better from Kenya Re. If you sold at 14.5, you are in luck.
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cnn
#2 Posted : Thursday, April 29, 2010 3:19:02 PM
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Joined: 6/17/2009
Posts: 1,619
Expected better from Kenye re,but P/E sill the lowest in the market at around 7.
Crown Berger EPS 3.64 from 1.22
Express EPS .15 from a loss position.
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guru267
#3 Posted : Thursday, April 29, 2010 4:17:56 PM
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Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
the drop in profits was due to a 400million increase in claims...
they have maintained dividends at 50 cents....
i wonder if the share price will be able to hold this information....

this stock has been the sleeper in my portfolio then they do this.... i am going to have a long thought on this tonight but i will probably end up selling out 100% tomorrow morning...

insurance firms suck balls!!!!! low P/E or not...
Mark 12:29
Deuteronomy 4:16
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2012
#4 Posted : Thursday, April 29, 2010 4:20:57 PM
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Joined: 12/9/2009
Posts: 6,592
Location: Nairobi
Wa! I almost entered at 13.50/-

BBI will solve it :)
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sorovi
#5 Posted : Thursday, April 29, 2010 4:43:12 PM
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Joined: 8/3/2007
Posts: 146
Okay let me take a back sit on this one for now.. was almost going in for more.. will watch it kidogo
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sparkly
#6 Posted : Thursday, April 29, 2010 5:56:50 PM
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Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
The 'excellent' H1 results were propped up by revaluation of investment property. Looks like revaluation is the method of choice of masking bogus operations results. nkt
Life is short. Live passionately.
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VituVingiSana
#7 Posted : Thursday, April 29, 2010 7:31:12 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,121
Location: Nairobi
Maybe the Board was right in not renewing mbogo's contract...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Jaguar
#8 Posted : Thursday, April 29, 2010 8:03:03 PM
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Joined: 6/7/2007
Posts: 263
Location: humu humu
i'm comparing this thread with the earlier one....waaaaah
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Bangkok
#9 Posted : Friday, April 30, 2010 1:47:43 AM
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Joined: 4/6/2007
Posts: 31
woi!
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guru267
#10 Posted : Friday, April 30, 2010 6:20:11 AM
Rank: Elder


Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
its on days like these that i thank God for the fairly slow flow of information in africa... i wonder how many of the huge optimists of this counter know of this disaster in results....

all the IB's are going to have to review their analysis on this stock simply because management is not improving underwriting profitability and their exposure to claims is simply not manageable...

i still believe this stock is poised for growth simply because its sector is poised for growth but i also believe that investors are going to punish this stock in the short term hence my decison to sell out at only 2% profit... DAMN!!!! Sad
Mark 12:29
Deuteronomy 4:16
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mkonomtupu
#11 Posted : Friday, April 30, 2010 6:45:12 AM
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Joined: 2/10/2010
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Location: River Road
Re-insurance business is one of the difficult areas to give a valuation so the low P/E should not be the only reason to invest. Most insurance companies don't even invest so much into Kenya Re. East Africa Re has been in this business and its profits are nothing to write home about.
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guru267
#12 Posted : Friday, April 30, 2010 6:51:13 AM
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Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
mkonomtupu wrote:
Re-insurance business is one of the difficult areas to give a valuation so the low P/E should not be the only reason to invest. Most insurance companies don't even invest so much into Kenya Re. East Africa Re has been in this business and its profits are nothing to write home about.


@mkonomtupu you're right there is always a reason for low P/E's... and the reason for this company's low P/E is clearly poor management...
Mark 12:29
Deuteronomy 4:16
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Wa_ithaka
#13 Posted : Friday, April 30, 2010 7:16:29 AM
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Joined: 1/7/2010
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Location: nbi
Isn't one of KRE's main income avenues about to be opened up to the market in 2011/12?
The Governor of Nyeri - 2017
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mukiha
#14 Posted : Friday, April 30, 2010 7:46:38 AM
Rank: Elder


Joined: 6/27/2008
Posts: 4,114
I jumped ship from KENRE in Jan at 14bob. Used the money to add some CFC at 45 [1 CFC for every 3 KENRE]

Today KENRE is at 13.5 [down 4%] while CFC is at 50 [up 11%]

Twende kazi!
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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Mkimwa
#15 Posted : Friday, April 30, 2010 8:09:04 AM
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Joined: 10/26/2008
Posts: 380
Down to 13 bob as at 9.45pm.

Damn this share.. anyway as a long term investor, the small flactuations in price shouldn't matter that much.

Its was about time for the management to be changed, court or no court.

I will wait for the share to stabilize after one week then make a decision. Let the market absorb the bad news.
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the deal
#16 Posted : Friday, April 30, 2010 8:45:00 AM
Rank: Elder


Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
@ guru kenRE sucks balls big tym so are other insurance companies...i should have listened to vvs and warren buffet who was almost taken the cleaners at General Re
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Kesh!
#17 Posted : Friday, April 30, 2010 8:50:04 AM
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Joined: 10/16/2008
Posts: 47
Hahaha tumeungua! Lakini @Muks al also do that let the market take in the shock and do what they want to this stock and once it stabilizes i think al make my choice. Cant imagine this na vile i cashed out of berger @27 bob, Sameer @5.2, kq @20.look at them all now..bt no grudges..jst kno where to put my money next tym.u kno it makes me wonder about, am nt rili into conspiracy theories bt, the article of it being at atleast 20 bob this year,was sm1 jst tryin 2 create hype so that they exit..just lyk mumias,is sm1 tryin 2 create fear (delisting vibe) so that they enter?hehehe..bt ol in our stride au sio?
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kyt
#18 Posted : Friday, April 30, 2010 8:59:47 AM
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Joined: 11/7/2007
Posts: 2,182
its only in wazua that people analyze stocks as they should. and thats why i love stockskenya.
LOVE WHAT YOU DO, DO WHAT YOU LOVE.
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guru267
#19 Posted : Friday, April 30, 2010 9:08:31 AM
Rank: Elder


Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
Mkimwa wrote:
Down to 13 bob as at 9.45pm.

Damn this share.. anyway as a long term investor, the small flactuations in price shouldn't matter that much.

Its was about time for the management to be changed, court or no court.

I will wait for the share to stabilize after one week then make a decision. Let the market absorb the bad news.


@mkimwa IMHO it is not viable to hold this stock for the long term.. its insurance... you might as well be holding an agricultural because of the profits and if you are a warren buffet junkie like i am you'll know these things burn investors left right and centre all around the world... who knows where the next big claim will come from...

i just cant wait to see the price action when iformation starts reaching shareholders...
Mark 12:29
Deuteronomy 4:16
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mwanafunzi
#20 Posted : Friday, April 30, 2010 9:15:58 AM
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Joined: 12/3/2008
Posts: 113
short term investing is not healthy,better focus on the horizon
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