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Sanlam Kenya PLC FY2016
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Ericsson
#1 Posted : Thursday, March 02, 2017 9:06:00 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,809
Location: NAIROBI
Sanlam Investments Operating Profit increased from Kshs. 24 Million posted the previous year to stand at KShs. 46 Million.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Fyatu
#2 Posted : Thursday, March 02, 2017 9:13:10 AM
Rank: Veteran

Joined: 1/20/2011
Posts: 1,820
Location: Nakuru
Where can i find the details?
Dumb money becomes dumb only when it listens to smart money
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Pesa Nane
#3 Posted : Thursday, March 02, 2017 9:15:41 AM
Rank: Elder

Joined: 5/25/2012
Posts: 4,105
Location: 08c


Full results link https://view.publitas.co...riod-ended-31-dec-2016/
Pesa Nane plans to be shilingi when he grows up.
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  | | Edit by moderator: Thursday, March 02, 2017 11:06 AM | Reason: results link
Ericsson
#4 Posted : Thursday, March 02, 2017 9:19:46 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,809
Location: NAIROBI
Operating loss before tax reduced by 92% to KShs 24 Million from KShs 302 Million loss reported in 2015.
Sanlam General's gross written premium grew by 58% to KShs.1 Billion up from KShs. 633 Million in 2015
Sanlam General Insurance is on its way to being the top General Insurance business in the region

Group profit before tax increased from KShs. 54 Million as reported in 2015 to KShs. 317 Million
Group Total assets up by 5% to KShs. 28.4 Billion.
Good performance mainly attributable to improved performance by the General Insurance and investments businesses.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Pesa Nane
#5 Posted : Thursday, March 02, 2017 9:20:27 AM
Rank: Elder

Joined: 5/25/2012
Posts: 4,105
Location: 08c
Quote:
Dividends
The introduction of the new Risk Based Capital regime in 2018 will significantly increase the capital requirement for the Group’s life and general insurance businesses. The Board therefore does not recommend payment of a dividend for the year ended 2016.
Pesa Nane plans to be shilingi when he grows up.
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chiaroscuro
#6 Posted : Thursday, March 02, 2017 9:57:37 AM
Rank: Veteran

Joined: 2/2/2012
Posts: 1,134
Location: Nairobi


What's with the HUGE tax charges?

2016
PBT = Sh371m
Tax = Sh246m [66%!]
PAT = Sh71m

2015
PBT = Sh54m
Tax = Sh27m [50%]
PAT = Sh27m
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  | | Edit by moderator: Thursday, March 02, 2017 11:07 AM | Reason: quote removed
Ericsson
#7 Posted : Thursday, March 02, 2017 10:08:15 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,809
Location: NAIROBI
chiaroscuro wrote:


What's with the HUGE tax charges?

2016
PBT = Sh371m
Tax = Sh246m [66%!]
PAT = Sh71m

2015
PBT = Sh54m
Tax = Sh27m [50%]
PAT = Sh27m


Clearing tax arrears they owe the tax man.
Wapi copy ya balance sheet
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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WWW
  | | Edit by moderator: Thursday, March 02, 2017 11:08 AM | Reason: quote shortened
mlennyma
#8 Posted : Thursday, March 02, 2017 10:43:13 AM
Rank: Elder

Joined: 7/21/2010
Posts: 6,194
Location: nairobi
Ericsson wrote:
Sanlam Investments Operating Profit increased from Kshs. 24 Million posted the previous year to stand at KShs. 46 Million.

i didn't know this company makes loose change profits
"Don't let the fear of losing be greater than the excitement of winning."
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chiaroscuro
#9 Posted : Thursday, March 02, 2017 10:43:48 AM
Rank: Veteran

Joined: 2/2/2012
Posts: 1,134
Location: Nairobi
Ericsson wrote:
chiaroscuro wrote:

What's with the HUGE tax charges?

2016
PBT = Sh371m
Tax = Sh246m [66%!]
PAT = Sh71m

2015
PBT = Sh54m
Tax = Sh27m [50%]
PAT = Sh27m


Clearing tax arrears they owe the tax man.
Wapi copy ya balance sheet


Yaani: they were evading wakapatikana?
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  | | Edit by moderator: Thursday, March 02, 2017 11:08 AM | Reason: quote shortened
Keane
#10 Posted : Thursday, March 02, 2017 11:19:50 AM
Rank: Hello

Joined: 4/20/2016
Posts: 4
Location: Nairobi
chiaroscuro wrote:
Ericsson wrote:
chiaroscuro wrote:

What's with the HUGE tax charges?

2016
PBT = Sh371m
Tax = Sh246m [66%!]
PAT = Sh71m

2015
PBT = Sh54m
Tax = Sh27m [50%]
PAT = Sh27m


Clearing tax arrears they owe the tax man.
Wapi copy ya balance sheet


Yaani: they were evading wakapatikana?


With the move to GPV valuation, there has been a huge release in reserves, resulting in the higher tax liability.
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