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Mumias Half Year Loss widens by 70%
Rank: Elder Joined: 12/4/2009 Posts: 10,702 Location: NAIROBI
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Mumias Sugar has released its financial results for the six months ended December 2016 posting a 40 per cent decline in net revenue to Sh 1.53 Billion compared to Sh 2.98 Billion posted in the previous period in 2015. The company went further ahead to issue a late Profit warning with Loss Before Tax widening further by 70 per cent to a record Sh 3.792 Billion vs Sh 2.23 Billion recorded during a similar period in 2015. The Nairobi Securities Exchange listed company blamed the huge drop in earnings on shortage of raw materials (cane) and factory underutilization resulting into high unit costs of production. Over this period, the company crushed 319,746 tons of cane, which is 45% lower compared to 581,541 tons crushed in the same period in 2015. Sugar produced was 12,197 tons, a decline of more than 67% compared to 36,510 tons produced in HY 2015. Revenue from Ethanol increased 4% to Sh 453 Million vs Sh 435 Million in HY 2015. Over this accounting period, Ethanol prices increased from Sh91 to Sh 95 currently. The board also noted that they are in talks with the government to get additional funding aka “Bailout”. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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  Results link https://view.publitas.co...ths-ended-december-2016/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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 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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 Pesa Nane plans to be shilingi when he grows up.
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Rank: Veteran Joined: 11/13/2015 Posts: 1,597
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Rank: Elder Joined: 7/21/2010 Posts: 6,184 Location: nairobi
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The nse is full of shells of living dead companies which should be stopped from trading until they heal "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Member Joined: 1/31/2007 Posts: 304
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mlennyma wrote:The nse is full of shells of living dead companies which should be stopped from trading until they heal This company should be delisted until such a time that it will put its act together. Anyone buying shares in this company today must be one hell of a gambler.
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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Gross loss of 48%, lord Jesus! Life is short. Live passionately.
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Rank: Elder Joined: 9/20/2015 Posts: 2,811 Location: Mombasa
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sparkly wrote:Gross loss of 48%, lord Jesus! 48% wider John 5:17 But Jesus replied, “My Father is always working, and so am I.”
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Rank: Chief Joined: 1/3/2007 Posts: 18,131 Location: Nairobi
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Another Bandia firm that GoK supports using taxpayer funds. It should be allowed to die like KQ and Uchumi. 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 wrote:Another Bandia firm that GoK supports using taxpayer funds. It should be allowed to die like KQ and Uchumi. Uchumi looks set to rise faster than KQ and Mumias VVS nwdays daytime you are MIA Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 1/3/2007 Posts: 18,131 Location: Nairobi
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Ericsson wrote:VituVingiSana wrote:Another Bandia firm that GoK supports using taxpayer funds. It should be allowed to die like KQ and Uchumi. Uchumi looks set to rise faster than KQ and Mumias VVS nwdays daytime you are MIA Trying to make that extra coin to invest while prices are low! I am essentially fully invested in some good firms. Some e.g. Unga face tough times but will be OK. Others like I&M are suffering like their peers but seem cheap at current prices as they come to grips with the new interest capping regime. KK will do fine as we need fuel come rain or shine. KenRe will boom in this high-interest regime. Smaller holdings e.g. CarGen, TPSEA, etc will suffer in 2017 coz of elections but they will survive to become stronger. CarGen is selling 50% of its Cummins biz to Cummins "International" in a slow year while TPSEA is building/expanding in a slow year too. They are preparing today for a boom tomorrow. I have fun needling folks who think KQ, as a business, will do well with a 39bn hole! Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Veteran Joined: 4/4/2016 Posts: 1,997 Location: Kitale
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[quote=Ericsson]Mumias Sugar has released its financial results for the six months ended December 2016 posting a 40 per cent decline in net revenue to Sh 1.53 Billion compared to Sh 2.98 Billion posted in the previous period in 2015. The company went further ahead to issue a late Profit warning with Loss Before Tax widening further by 70 per cent to a record Sh 3.792 Billion vs Sh 2.23 Billion recorded during a similar period in 2015. The Nairobi Securities Exchange listed company blamed the huge drop in earnings on shortage of raw materials (cane) and factory underutilization resulting into high unit costs of production. Over this period, the company crushed 319,746 tons of cane, which is 45% lower compared to 581,541 tons crushed in the same period in 2015. Sugar produced was 12,197 tons, a decline of more than 67% compared to 36,510 tons produced in HY 2015. Revenue from Ethanol increased 4% to Sh 453 Million vs Sh 435 Million in HY 2015. Over this accounting period, Ethanol prices increased from Sh91 to Sh 95 currently. The board also noted that they are in talks with the government to get additional funding aka “Bailout”. no more bailout from my taxes! tell us what the 2 bilions have done first. Towards the goal of financial freedom
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Rank: Veteran Joined: 8/28/2015 Posts: 1,247
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sparkly wrote:Gross loss of 48%, lord Jesus! Please, someone help me know how much commission should I pay if someone gave me their holding in mumias for free. I have called my broker and they aren't picking my calls. I want to price in the commission. Bandia firm kabisa ,Behold, a sower went forth to sow;....
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Rank: Elder Joined: 7/11/2010 Posts: 5,040
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Uchumi, mumias are NSE zombies. The living dead The investor's chief problem - and even his worst enemy - is likely to be himself
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Rank: Elder Joined: 9/20/2015 Posts: 2,811 Location: Mombasa
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Aguytrying wrote:Uchumi, mumias are NSE zombies. The living dead There's life after death-eternity. John 5:17 But Jesus replied, “My Father is always working, and so am I.”
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Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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muandiwambeu wrote:sparkly wrote:Gross loss of 48%, lord Jesus! Please, someone help me know how much commission should I pay if someone gave me their holding in mumias for free. I have called my broker and they aren't picking my calls. I want to price in the commission. Bandia firm kabisa If it is not a purchase transaction (inheritance, gift, succession), you may by-pass the broker (and their commissions) by making application through CDSC. Pesa Nane plans to be shilingi when he grows up.
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Rank: Veteran Joined: 8/28/2015 Posts: 1,247
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Pesa Nane wrote:muandiwambeu wrote:sparkly wrote:Gross loss of 48%, lord Jesus! Please, someone help me know how much commission should I pay if someone gave me their holding in mumias for free. I have called my broker and they aren't picking my calls. I want to price in the commission. Bandia firm kabisa If it is not a purchase transaction (inheritance, gift, succession), you may by-pass the broker (and their commissions) by making application through CDSC. However, suppose a trade of purchase and sale at zero, nil cost, what would be the commissions value. ,Behold, a sower went forth to sow;....
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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muandiwambeu wrote:Pesa Nane wrote:muandiwambeu wrote:sparkly wrote:Gross loss of 48%, lord Jesus! Please, someone help me know how much commission should I pay if someone gave me their holding in mumias for free. I have called my broker and they aren't picking my calls. I want to price in the commission. Bandia firm kabisa If it is not a purchase transaction (inheritance, gift, succession), you may by-pass the broker (and their commissions) by making application through CDSC. However, suppose a trade of purchase and sale at zero, nil cost, what would be the commissions value. Re Pesa nane response above. It is not a purchase, just a transfer. Broker commissions n/a but you might pay some marginal fees to CDSC. Life is short. Live passionately.
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Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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sparkly wrote:muandiwambeu wrote:Pesa Nane wrote:muandiwambeu wrote:sparkly wrote:Gross loss of 48%, lord Jesus! Please, someone help me know how much commission should I pay if someone gave me their holding in mumias for free. I have called my broker and they aren't picking my calls. I want to price in the commission. Bandia firm kabisa If it is not a purchase transaction (inheritance, gift, succession), you may by-pass the broker (and their commissions) by making application through CDSC. However, suppose a trade of purchase and sale at zero, nil cost, what would be the commissions value. Re Pesa nane response above. It is not a purchase, just a transfer. Broker commissions n/a but you might pay some marginal fees to CDSC. Last time I checked that was Ksh. 30 Pesa Nane plans to be shilingi when he grows up.
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Mumias Half Year Loss widens by 70%
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