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Centum Full Year results 2017/2018
Rank: Veteran Joined: 7/1/2014 Posts: 903 Location: sky
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highlights -Despite the challenging environment; @Centum_Inv has recorded positive cash flows with KES 4.3Billion from it's own operations. -Dividend maintained at KES 1.20 per share, despite drop in PAT -Decline in profitability is attributed to lower realized gains as recognition of GenAfrica disposal gains was deferred to FY 2019. Had the gains been booked, the company would have recorded 42% profit increase. -total company assets increased by 7% to KES 66 Billion -NAV of Centum shares at KES 73.20 There are only two emotions in the stock market, fear and hope. The problem is, you hope when you should fear and fear when you should hope
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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Full year pretax profit drops by 64 pc, says Kenya's Centum InvestmentCentum said in a statement its pretax profit dropped to 3.15 billion shillings ($31.16 million) from 8.74 billion shillings a year earlier. It said the drop in profits was also attributed to a 2.3 billion shilling or 35 percent drop year-on-year of its fair value gain on its investment properties. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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Ericsson wrote:Full year pretax profit drops by 64 pc, says Kenya's Centum Investment
Centum said in a statement its pretax profit dropped to 3.15 billion shillings ($31.16 million) from 8.74 billion shillings a year earlier.
It said the drop in profits was also attributed to a 2.3 billion shilling or 35 percent drop year-on-year of its fair value gain on its investment properties. Waiting for @Obiero to rubbish these poor results  Life is short. Live passionately.
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Rank: Member Joined: 10/7/2010 Posts: 251 Location: nairobi
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anybody with the full presentation asambaze...
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Rank: Elder Joined: 9/15/2006 Posts: 3,905
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madebe wrote:anybody with the full presentation asambaze...
Sure feels like everything went down (apart from their quoted NAV) https://www.nse.co.ke/li...r-ended-31st-march-2018
costs up trading profit down income from financial services down share of associates profit down profit before tax down earnings per share down 
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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Borrowings too went up from ksh.20.9bn to 24.4bn For more results and analysis http://www.centum.co.ke/...Audited_Results_FY18.pdfWealth 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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What I heard but I need to re-watch the presentation - GenAfrica sale will be completed in 1H so cash will reduce debt - Sales of properties ongoing at Pearl, Two Rivers and Rea but this will take some time - Debt:Equity has reduced y-o-y - There’s are more “value uplifts” coming as businesses mature - Sidian is on the mend but there’s work to be done - Amu is on. Delayed but on. $1.5bn debt secured. I need to go through the presentation and Annual Report with a fine tooth comb 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:What I heard but I need to re-watch the presentation
- GenAfrica sale will be completed in 1H so cash will reduce debt--Mmmh
- Sales of properties ongoing at Pearl, Two Rivers and Rea but this will take some time--Long time with Jubilee policies
- Debt:Equity has reduced y-o-y
- There’s are more “value uplifts” coming as businesses mature--Give examples
- Sidian is on the mend but there’s work to be done
- Amu is on. Delayed but on. $1.5bn debt secured.
I need to go through the presentation and Annual Report with a fine tooth comb Kabisa ili usidanganywe Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/7/2012 Posts: 11,908
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Decline in profitability is attributed to lower realized gains as recognition of GenAfrica disposal gains was deferred to FY 2019. Had the gains been booked, the company would have recorded 42% profit increase. So they are trying to use one transaction for 2 financial years, 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: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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Angelica _ann wrote:Decline in profitability is attributed to lower realized gains as recognition of GenAfrica disposal gains was deferred to FY 2019. Had the gains been booked, the company would have recorded 42% profit increase. So they are trying to use one transaction for 2 financial years, GenAfrica disposal gains deliberately deferred so that HY 18/19 looks good. 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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These guys sometimes makes decisions which doesnt add value. They sold platinum credit service which was making profit and pumped the money into loss making sidian bank. Then they ordered Longhorn publishers to sell its head office so that they get the cash. Towards the goal of financial freedom
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Rank: Elder Joined: 12/7/2012 Posts: 11,908
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Ericsson wrote:Angelica _ann wrote:Decline in profitability is attributed to lower realized gains as recognition of GenAfrica disposal gains was deferred to FY 2019. Had the gains been booked, the company would have recorded 42% profit increase. So they are trying to use one transaction for 2 financial years, GenAfrica disposal gains deliberately deferred so that HY 18/19 looks good. I know but you can see the 42% comment has been planted in the financials for this year - therefore serve two periods - is also trying to show 2017/18 was to that level which it is not. Ukora, time will tell. 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: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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Ebenyo wrote:These guys sometimes makes decisions which doesnt add value.
They sold platinum credit service which was making profit and pumped the money into loss making sidian bank.
Then they ordered Longhorn publishers to sell its head office so that they get the cash. At one time they had a 7% stake in KCB. The rest is history. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: New-farer Joined: 2/8/2018 Posts: 73
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If a decision does not add value or make sense, chances are that it's an under the table deal.it's like you selling your KCB/Equity bank shares to buy NBK.
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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RIEK01 wrote:If a decision does not add value or make sense, chances are that it's an under the table deal.it's like you selliung your KCB/Equity bank shares to buy NBK. Or KQ Life is short. Live passionately.
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Rank: Veteran Joined: 4/4/2016 Posts: 1,997 Location: Kitale
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sparkly wrote:RIEK01 wrote:If a decision does not add value or make sense, chances are that it's an under the table deal.it's like you selliung your KCB/Equity bank shares to buy NBK. Or KQ  Towards the goal of financial freedom
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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Instead of putting money into Sidian bank,centum could have put the money for a stake in Java as private equity,Avenue hospitals etc. But hey its kirubi calling the shots 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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Amu Power - Good stuff! https://www.businessdail...24518-108vr0m/index.htmlGreedy 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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http://estatecloud.co.ke...illion-industrial-park/
Listed investment firm Centum Plc has broken ground for the Sh.100 billion industrial park to be set up in Kilifi County. The new development will bring to size Centum’s real estate portfolio in the East African market which includes Pearl Marina in Uganda and Two Rivers Mall in Kenya. The Vipingo Industrial Park project will cover an area of 10,254 acres of land in the Vipingo area of Kilifi County where currently large swathes of land roll over in neat rows of sisal plantations. Centum Plc via its subsidiary, Vipingo Development Limited, intends to convert into a much sought after location. Kenneth Mbae, Vipingo Development Limited’s managing director said that the industrial park would be a mixed-use economic hub, integrating industrial, commercial, residential, hospitality and institutional uses. The project has set aside 1,150 acres of serviced plots for manufacturing, warehousing, logistics and commercial developments and is offering them to investors at between Sh. 18million and Sh. 20million per acre. According to Centum, the industrial park was conceived back in 2015 and a market survey completed two years ago. The groundbreaking is part of the projects timeline to begin work in 2018 according to the master plan. Part of the 10,254 acres will be used to develop a 200-acre Vipingo Lifestyle City which will host a residential development, Vipingo Awali Estate. The development will also include a sea water desalination facility, shopping mall, school, hospital, church and a mosque. “We are also looking into the affordable housing segment. We will have the Ridge Homes that will see the development of 1,200 units consisting of one-, two-, and three-bedroom apartments going for less than Sh4 million per unit,” Centum said in a statement. Centum have already acquired an export processing zone status for the development that is located along the Mombasa-Malindi highway, which will enable tax incentives to licensed export processing companies. According to Centum, a number of local and international investors have expressed interest in setting up base in the area. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/7/2012 Posts: 11,908
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Ericsson wrote:http://estatecloud.co.ke/centum-to-begin-work-on-sh-100-billion-industrial-park/
Listed investment firm Centum Plc has broken ground for the Sh.100 billion industrial park to be set up in Kilifi County. The new development will bring to size Centum’s real estate portfolio in the East African market which includes Pearl Marina in Uganda and Two Rivers Mall in Kenya.
The Vipingo Industrial Park project will cover an area of 10,254 acres of land in the Vipingo area of Kilifi County where currently large swathes of land roll over in neat rows of sisal plantations.
Centum Plc via its subsidiary, Vipingo Development Limited, intends to convert into a much sought after location. Kenneth Mbae, Vipingo Development Limited’s managing director said that the industrial park would be a mixed-use economic hub, integrating industrial, commercial, residential, hospitality and institutional uses.
The project has set aside 1,150 acres of serviced plots for manufacturing, warehousing, logistics and commercial developments and is offering them to investors at between Sh. 18million and Sh. 20million per acre.
According to Centum, the industrial park was conceived back in 2015 and a market survey completed two years ago. The groundbreaking is part of the projects timeline to begin work in 2018 according to the master plan.
Part of the 10,254 acres will be used to develop a 200-acre Vipingo Lifestyle City which will host a residential development, Vipingo Awali Estate. The development will also include a sea water desalination facility, shopping mall, school, hospital, church and a mosque.
“We are also looking into the affordable housing segment. We will have the Ridge Homes that will see the development of 1,200 units consisting of one-, two-, and three-bedroom apartments going for less than Sh4 million per unit,” Centum said in a statement.
Centum have already acquired an export processing zone status for the development that is located along the Mombasa-Malindi highway, which will enable tax incentives to licensed export processing companies. According to Centum, a number of local and international investors have expressed interest in setting up base in the area. To be sold in manageable pieces, great idea!!! 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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