*Statement of equity position and cashflow were not provided.
*At the agm this friday,the management need to address the decrease in turnover.
*Relying also on revaluation gain is alarming.They will have to explain.

The company says in its annual report that competition is what has affected its turnover which decreased by 29%.
They say they will continue making carbondioxide of high quality.These means they will not be able to match the competition because of prices.Their prices will be high while competitors sale at low.
"When they beat you join them".They should respond to competition by producing carbon which they will sell at a lower price than their competitors.

Bigger percentage of revenue is still from carbondioxide business-79%
while 21% of revenue is from investments in equity and bonds.
They should increase more in investments due to good returns.

equity investment increased from kshs 144,594,000 in 2016 to kshs 168,691,000 in 2017 which is 17% increase.
Treasury bond investment increased from kshs 121,633,000 in 2016 to kshs 410,294,000 in 2017 which is 237% increase.

@wondergirl,
Competition has slowed revenue growth in the carbondioxide business.
BOC is the only other listed competitor in the carbon business.They recently issued a profit warning pointing towards a stiff competition.
The competitors are producing cheap carbondioxide from alcohol and therefore sells cheap in the market.Carbacid produces high quality carbon and sells it expensive.Thats the reason for the continued decline in revenue as the competitors have been able to eat into their market share.They used to control the market previously.
The company says they will continue to produce high quality carbon.These means competitors will continue eating into their market share.So there is no room for a change in revenue growth.
The investment arm of the company is what holds the promise going forward.For now,the investment revenue is 20% of the annual turnover.Meaning that it will take time for the investments to grow strong returns.They have invested in equity,govt securities and bank deposits.
I will encourage you,to wait for these investments to grow.Dont sell your holding now for a loss.Wait.

Fy 2018 results due next month.

guaranteed Kshs 0.70 dividend per share.And its paid shortly before Christmas.

Ebenyo lives in a fantasy world;he needs to adjust to the current jubilee regime where vindu vichenga