hii ni results ya kuletwa na mlango wa nyuma.
We want nice presentations bana.
Call a press conference and announce the results.

I must agree second half was awful

from 20% to a flat tyre

For a long term investor the 42% volume growth plus the one off expenses that hit profits may suggest a good entry point at lower prices....

Agreed.

An uninformed investor might even have expected better results for an oil company amidst rising crude prices, led on by the eye-popping growth in volume - alas!

Eagerly waiting to hear from him... his major counters are having issues

Don't cry for me.
Unga - Pending takeover bid. We await the Offer Document. I expect (hope?) for a higher offer from Seaboard once the Independent Adviser provides its input.

KK - Hah! At a EPS of 2.30 (before extraordinary costs) it's doing very well An unchallenging PER of 7.

KenRe - Sigh, I expect a very good set of results for FY 2017 [vs 2016] but I admit firing Mwarania by the Godfather #1's lackeys is worrying.

I&M - FY 2017 (vs 2016) will take a hit like most banks. I want them to clean up their books so they go into FY 2018 with guns blazing.

Equity - No complaints. I expect solid results and a strong balance sheet with a lot of (safe) GoK securities. FY 2018 should be very good.

I am a long-term investor so I do not stress about hiccups [KenRe is not a hiccup in my view unless there's a change in the board]...

Unga screwed up on Ennsvalley and Nakumatt in 2015-17.
KK under Ohana has done very well but it came close to "dying" under Segman.
Equity had SS. And DRC is dicey but Kenya is doing a-OK. Double digit growth will be tougher for all banks BUT repeal of interest rate caps should see huge gains.
I&M screwed up buying Giro at a huge premium and took a hit when peers like Imperial and Chase collapsed but now FY 2018 beckons.

I am glad Ohana has cleaned up the books. The KPRL amount has been provided for BUT there remains a chance of recovery. Total has taken KPRL to court and with the assets KPRL has, there's a good chance of recovery except for "time" [when will it happen?]

KK also has the arbitration award against KPC that's winding its way slowly through court. It's not included in the assets but if a payment/settlement is made then that's extra cash.

Inventories+Receivables+Cash-Borrowings-Payables = 6bn [great situation to be in]

No KES loans. Cheap(er) USD loans used to finance inventory.

Finally, there's the potential "takeover" now that biwott has croaked and the family may want to cash in.

Deep breath. In. Out. It's all good.
And KK is doing OK. Enjoy the ride.

At the FY 2017 EPS of 2.30 (excluding the listed one-offs) and a reasonable PER of 8 = KES 18.50
FY 2018 (ceteris paribus) should be better though I do fret about the VAT in Sep. I think Kestrel had a report that estimated KES 2.90 for FY 2018.

Caution: Burundi is weak [no forex], Ethiopia remains barely profitable, VAT in Kenya, volatile/high oil prices, debt crunch in Kenya, high taxes increases the likelihood of smuggling, etc

Pluses: If KK can gain market share then the shrinking industry volumes might not hurt as much ; No market/country is making a loss ; Ohana is ruthless about reducing non-performing stations [fewer stations in Ethiopia] ; Credit provision is very limited so bad debts are minimized ; OTS (low margin but high volume) is back