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CMC half year down 31%
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cnn
#1 Posted : Monday, June 21, 2010 3:15:48 PM
Rank: Veteran


Joined: 6/17/2009
Posts: 1,619
Somebody here was trying to sell the idea of great half year results.EPS down to 1.04 vs 1.52 compared to a similar period last year ,and they dont see things getting better in the second half.
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shauriyako
#2 Posted : Monday, June 21, 2010 3:39:11 PM
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Joined: 6/17/2010
Posts: 71
Location: Kenya
where can we view the books/results.
When we wake up in the morning, we have two simple choices. Go back to sleep and dream, or wake up and chase those dreams. The choice is yours! .
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qw25041985
#3 Posted : Monday, June 21, 2010 3:53:50 PM
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Joined: 5/9/2010
Posts: 1,418
Location: Nai
Even with the agricultural sector picking up the cannt make a profit. It seems those cheap second hand vehicle ar causing too much trouble at cmc. I agree with them that the future is dark on their side.
Your future depends on your dreams so go to sleep !
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the deal
#4 Posted : Monday, June 21, 2010 4:43:44 PM
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Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
@qw Disaster...but its easy to see why...look @ the streets of Nbo,how many drive 1st hand cars?
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VituVingiSana
#5 Posted : Tuesday, June 22, 2010 9:53:37 AM
Rank: Chief


Joined: 1/3/2007
Posts: 18,134
Location: Nairobi
For CMC, dark the future is... my padwan
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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mukiha
#6 Posted : Tuesday, June 22, 2010 9:57:37 AM
Rank: Elder


Joined: 6/27/2008
Posts: 4,114
Oh ye of little faith!

So, the PBT is 30% down. So too market conditions are tough and are expected to remain as such for the remainder of the year.

But did you not read that they have acquired the MAN TRUCK franchise and have already pre-sold 70 units three months ahead of the launch? Did you not read that the have also acquired the Jaguar franchise as well?

Those who want to sell can go ahead and sell. I will buy from them.

Disclaimer: I have been in this company for over 15 years. After profit taking over the years, my effective buy price is below 5cts (ndururu)!!
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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sheep
#7 Posted : Tuesday, June 22, 2010 10:28:38 AM
Rank: Veteran


Joined: 7/24/2008
Posts: 781
CMC were the greats of yester-years,I believe stocks like this will underperform the market for the next like 10yrs.

The utimate goal of investing is to buy low sell high;if we re-write this core equation in psychology terms it becomes buy fear sell greed.
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Maumau
#8 Posted : Tuesday, June 22, 2010 10:37:50 AM
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Joined: 3/11/2009
Posts: 22
@Mukiha, for me, the negative cash flows, negative cash generated from operations and borrowings of over 2billion are not good signs.
@Shariyako, the results were in yesterday's Standard and in today's Nation.
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shauriyako
#9 Posted : Tuesday, June 22, 2010 3:05:19 PM
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Joined: 6/17/2010
Posts: 71
Location: Kenya
Maumau wrote:
@Mukiha, for me, the negative cash flows, negative cash generated from operations and borrowings of over 2billion are not good signs.
@Shariyako, the results were in yesterday's Standard and in today's Nation.

@maumau
Seen the results,thanks.
CMC is overburdened with lots of debts -read credit and some more bad debt - read soft terms of sale extended to farmers who most of the time have no intention of repaying. Most units repossessed do not cover the debt owed.
They are currently slowing down on the inhouse finance thing but cleaning up their balance sheet will take a while.
I think money can generate better/higher returns elsewhere as they clean up their act.
Besides their Aviation and Engineering divisions this guys seem to dubble in everything -picture this - Suzuki,VW,Ford,Nissan UD, Landrover,NewHolland and Case tractors and now they have gone and acquired Mantruck, Chinese/Indian Motorbikes and God knows what. Confussion I think.
When we wake up in the morning, we have two simple choices. Go back to sleep and dream, or wake up and chase those dreams. The choice is yours! .
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mukiha
#10 Posted : Tuesday, June 22, 2010 8:47:54 PM
Rank: Elder


Joined: 6/27/2008
Posts: 4,114
@shauriyako; CMC Aviation is no longer part of CMC Holdingss. It was sold away a few years ago.

That wide variety of motor vehicles has been their winning strategy.
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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2012
#11 Posted : Wednesday, June 23, 2010 12:22:13 PM
Rank: Elder


Joined: 12/9/2009
Posts: 6,592
Location: Nairobi
Would you buy CMC @10/-?

BBI will solve it :)
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VituVingiSana
#12 Posted : Wednesday, June 23, 2010 12:28:37 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,134
Location: Nairobi
I have had CMC for many years... bought them cheap... lakini after reviewing the results... I sold them...

Why? Coz I am re-allocating to other counters... you know which ones!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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mukiha
#13 Posted : Friday, June 25, 2010 6:36:04 PM
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Joined: 6/27/2008
Posts: 4,114
Si niliwaambia? Very resilient
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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