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Uchumi HY 2018, the disaster
Rank: Elder Joined: 9/15/2006 Posts: 3,905
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So was it wrong for Kipngetich to abandon this 'Titanic'? Maybe in Kenya we need to let companies collapse more, rather than attempting to resuscitate skeletons. The results were so bad that they were shy to label the columns - HY 2018 | HY 2017 
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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Net sales of sh.526mn in six months. Debt level is unmanageable,surviving on goodwill of Gok which got a rating downgrade Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Veteran Joined: 4/4/2016 Posts: 1,997 Location: Kitale
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[quote=Ericsson]Net sales of sh.526mn in six months. Debt level is unmanageable,surviving on goodwill of Gok which got a rating downgrade[/quote ..................................... They should allow the thing to die.Why waste taxpayer money? Towards the goal of financial freedom
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Rank: Veteran Joined: 8/10/2014 Posts: 969 Location: Kenya
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SHUT this thing down, then start afresh with a different brand
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Rank: Elder Joined: 7/21/2010 Posts: 6,183 Location: nairobi
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watesh wrote:SHUT this thing down, then start afresh with a different brand wasting nse reporting season appetite "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Chief Joined: 1/3/2007 Posts: 18,103 Location: Nairobi
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Ericsson wrote:Net sales of sh.526mn in six months.
Debt level is unmanageable,surviving on goodwill of Gok which got a rating downgrade I think Carrefour had greater sales in a single branch! Two Rivers Carrefour is hopping with shoppers on weekends. 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: 18,103 Location: Nairobi
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Ebenyo wrote:[quote=Ericsson]Net sales of sh.526mn in six months.
Debt level is unmanageable,surviving on goodwill of Gok which got a rating downgrade[/quote
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They should allow the thing to die.Why waste taxpayer money? There are many such firms. Except KenRe, has any GoK controlled/infiluenced firm not received "debt" (bailout) from GoK that was later converted to Equity? KPLC KenGen KCB [some years ago] NBK Uchumi KQ 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: 10,684 Location: NAIROBI
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VituVingiSana wrote:Ebenyo wrote:[quote=Ericsson]Net sales of sh.526mn in six months.
Debt level is unmanageable,surviving on goodwill of Gok which got a rating downgrade[/quote
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They should allow the thing to die.Why waste taxpayer money? There are many such firms. Except KenRe, has any GoK controlled/infiluenced firm not received "debt" (bailout) from GoK that was later converted to Equity? KPLC KenGen KCB [some years ago]--- Never received any bailout that was converted to equityNBK Uchumi KQ Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 1/3/2007 Posts: 18,103 Location: Nairobi
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Ericsson wrote:VituVingiSana wrote:Ebenyo wrote:[quote=Ericsson]Net sales of sh.526mn in six months.
Debt level is unmanageable,surviving on goodwill of Gok which got a rating downgrade[/quote
.....................................
They should allow the thing to die.Why waste taxpayer money? There are many such firms. Except KenRe, has any GoK controlled/infiluenced firm not received "debt" (bailout) from GoK that was later converted to Equity? KPLC KenGen KCB [some years ago]--- Never received any bailout that was converted to equity NBK Uchumi KQ In the 90s? Or was it 2000s? [Perhaps not a direct loan but there was some serious shit that went down post-Bii/Kaminchia] 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: 13,519 Location: nairobi
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VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:Ebenyo wrote:[quote=Ericsson]Net sales of sh.526mn in six months.
Debt level is unmanageable,surviving on goodwill of Gok which got a rating downgrade[/quote
.....................................
They should allow the thing to die.Why waste taxpayer money? There are many such firms. Except KenRe, has any GoK controlled/infiluenced firm not received "debt" (bailout) from GoK that was later converted to Equity? KPLC KenGen KCB [some years ago]--- Never received any bailout that was converted to equity NBK Uchumi KQ In the 90s? Or was it 2000s? [Perhaps not a direct loan but there was some serious shit that went down post-Bii/Kaminchia] 2003-2004
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: 12/4/2009 Posts: 10,684 Location: NAIROBI
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obiero wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:Ebenyo wrote:[quote=Ericsson]Net sales of sh.526mn in six months.
Debt level is unmanageable,surviving on goodwill of Gok which got a rating downgrade[/quote
.....................................
They should allow the thing to die.Why waste taxpayer money? There are many such firms. Except KenRe, has any GoK controlled/infiluenced firm not received "debt" (bailout) from GoK that was later converted to Equity? KPLC KenGen KCB [some years ago]--- Never received any bailout that was converted to equity NBK Uchumi KQ In the 90s? Or was it 2000s? [Perhaps not a direct loan but there was some serious shit that went down post-Bii/Kaminchia] 2003-2004 Rights issue was done where government stake was reduced Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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watesh wrote:SHUT this thing down, then start afresh with a different brand They are doing culling by shutting down some branches. From april Sarit Center branch will be no more.They will remain with westlands only. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Member Joined: 12/22/2015 Posts: 224 Location: Mombasa, Kenya
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Ericsson wrote:Net sales of sh.526mn in six months.
Debt level is unmanageable,surviving on goodwill of Gok which got a rating downgrade The horror! Start!
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Rank: Chief Joined: 1/3/2007 Posts: 18,103 Location: Nairobi
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Ericsson wrote:obiero wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:Ebenyo wrote:[quote=Ericsson]Net sales of sh.526mn in six months.
Debt level is unmanageable,surviving on goodwill of Gok which got a rating downgrade[/quote
.....................................
They should allow the thing to die.Why waste taxpayer money? There are many such firms. Except KenRe, has any GoK controlled/infiluenced firm not received "debt" (bailout) from GoK that was later converted to Equity? KPLC KenGen KCB [some years ago]--- Never received any bailout that was converted to equity NBK Uchumi KQ In the 90s? Or was it 2000s? [Perhaps not a direct loan but there was some serious shit that went down post-Bii/Kaminchia] 2003-2004 Rights issue was done where government stake was reduced 2 Rights Issues within less than 1 year... Things were really bad. Huge NPLs. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Veteran Joined: 1/25/2012 Posts: 1,624 Location: Langley
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VituVingiSana wrote:Ericsson wrote:Net sales of sh.526mn in six months.
Debt level is unmanageable,surviving on goodwill of Gok which got a rating downgrade I think Carrefour had greater sales in a single branch! Two Rivers Carrefour is hopping with shoppers on weekends. Carrefour Karen... https://www.businessdail...73076-82vn1yz/index.htmlIf you have built castles in the air, your work need not be lost; that is where they should be. Now put the foundations under them.
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Rank: Member Joined: 10/24/2013 Posts: 455 Location: Nairobi
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Ericsson wrote:watesh wrote:SHUT this thing down, then start afresh with a different brand They are doing culling by shutting down some branches. From april Sarit Center branch will be no more.They will remain with westlands only. @UchumiKenya will close it's Sarit Centre branch from COB Sunday 25th February.
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Rank: Elder Joined: 12/7/2012 Posts: 11,908
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Uram wrote:Ericsson wrote:watesh wrote:SHUT this thing down, then start afresh with a different brand They are doing culling by shutting down some branches. From april Sarit Center branch will be no more.They will remain with westlands only. @UchumiKenya will close it's Sarit Centre branch from COB Sunday 25th February. They are keeping it alive for obvious reasons  In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Member Joined: 12/22/2015 Posts: 224 Location: Mombasa, Kenya
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Angelica _ann wrote:Uram wrote:Ericsson wrote:watesh wrote:SHUT this thing down, then start afresh with a different brand They are doing culling by shutting down some branches. From april Sarit Center branch will be no more.They will remain with westlands only. @UchumiKenya will close it's Sarit Centre branch from COB Sunday 25th February. They are keeping it alive for obvious reasons with junk like this there will be opportunities. Am waiting downhill. hopefully 1 bob will print someday Start!
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Rank: Member Joined: 6/15/2013 Posts: 301
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Metch wrote:Angelica _ann wrote:Uram wrote:Ericsson wrote:watesh wrote:SHUT this thing down, then start afresh with a different brand They are doing culling by shutting down some branches. From april Sarit Center branch will be no more.They will remain with westlands only. @UchumiKenya will close it's Sarit Centre branch from COB Sunday 25th February. They are keeping it alive for obvious reasons with junk like this there will be opportunities. Am waiting downhill. hopefully 1 bob will print someday Goes to show how bad things are if you are letting go of one of the most desired locations in the city.
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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https://www.businessdail...9828-yv568wz/index.html
Majid Al Futtaim, the exclusive holder of French retailer Carrefour’s franchise in Kenya, last year recorded Sh8.2 billion in sales from its local business riding on accelerated expansion of the supermarket chain. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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