Wazua
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Centum HY 2018/2019
Rank: Member Joined: 3/8/2018 Posts: 507 Location: Nairobi
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Ebenyo wrote:rwitre wrote:Been looking to diversify and include a blue chip with high potential for capital gains...(because dividends don't multiply wealth fast enough, and high-beta stocks will ruin quality of sleep).
Settled on Centum with its discount on NAV, plus the headstrong management that has a firm handle on things.
My one concern is the circa Sh50 billion in a fresh private equity (PE) being sought, how prudently it will be used, and its impact on the balance sheet. But seeing the track record of the board in selecting firms to sink money into (plus the insistence on focusing on cash generating companies, and not greenfield ventures or turn-around types), am optimistic. im also in the process of changing my attitude towards centum.I went into their historical background and i liked the initial purpose of forming it. Those counters that force you to average upwards in the middle of a bear market...smh. Anyway...finished my accumulation on this one. ABP: Sh.30.80 Let's see where Mworia and co. drive this bus.
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Rank: Chief Joined: 1/3/2007 Posts: 18,103 Location: Nairobi
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Isuzu inks vehicle financing deal with Gulf African Bank https://www.businessdail...04814-8woxa1/index.html
Centum owns shares in Isuzu EA. Isuzu was the only major dealer to grow sales in the first quarter ended March in what is attributed to special financing deals with lenders such as Co-op Bank .The dealer’s unit sales in the review period rose to 1,019 from 891 a year earlier while orders in the overall industry fell 14.5 per cent to 2,741 units. 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:Isuzu inks vehicle financing deal with Gulf African Bank https://www.businessdail...04814-8woxa1/index.html
Centum owns shares in Isuzu EA. Isuzu was the only major dealer to grow sales in the first quarter ended March in what is attributed to special financing deals with lenders such as Co-op Bank .The dealer’s unit sales in the review period rose to 1,019 from 891 a year earlier while orders in the overall industry fell 14.5 per cent to 2,741 units. Sidian wipes out all those gains 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:Isuzu inks vehicle financing deal with Gulf African Bank https://www.businessdail...04814-8woxa1/index.html
Centum owns shares in Isuzu EA. Isuzu was the only major dealer to grow sales in the first quarter ended March in what is attributed to special financing deals with lenders such as Co-op Bank .The dealer’s unit sales in the review period rose to 1,019 from 891 a year earlier while orders in the overall industry fell 14.5 per cent to 2,741 units. Sidian wipes out all those gains Isn't it a good thing Centum has some good businesses that help mitigate the losses in others? After all, one can't win them all, all the time. Berkshire Hathaway took a hit on Wells Fargo but had gains in Bank of America. Losses in Kraft-Heinz but gains in Burlington. As of 8th May 2019, I remain bullish on Centum at current prices (32-33). This is slowly heading towards Tier 1 status for me. I am a patient investor just as I was with KK. 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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I'll keep this little reminder. When quoting the below, do quote the entire post. As of 8th May 2019, I remain bullish on Centum at current prices (32-33). This is slowly heading towards Tier 1 status for me. 2018-19 (Year Ended 31st March 2019) will be tough for Centum given the headwinds the economy has faced but I am a patient investor. Some divisions/subsidiaries/investments will underperform. Some will fail. As long as the overall pie grows in the long-term, it is all good. Businesses facing challenges: - Sidian - Amu - Akiira - TRDL+TRLC Gems but they may also face challenges in the future: - Nairobi Bottlers+Almasi - Longhorn - Vipingo - Nabo Some have asked me for my next set of picks to replace KK. Well, Centum is definitely on the list.  To paraphrase Ben Graham: In the short run, the market is like a voting machine-- tallying up which firms are popular and unpopular. But in the long run, the market is like a weighing machine-- assessing the substance of a company.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: 13,517 Location: nairobi
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VituVingiSana wrote:I'll keep this little reminder. When quoting the below, do quote the entire post. As of 8th May 2019, I remain bullish on Centum at current prices (32-33). This is slowly heading towards Tier 1 status for me. 2018-19 (Year Ended 31st March 2019) will be tough for Centum given the headwinds the economy has faced but I am a patient investor. Some divisions/subsidiaries/investments will underperform. Some will fail. As long as the overall pie grows in the long-term, it is all good. Businesses facing challenges: - Sidian - Amu - Akiira - TRDL+TRLC Gems but they may also face challenges in the future: - Nairobi Bottlers+Almasi - Longhorn - Vipingo - Nabo Some have asked me for my next set of picks to replace KK. Well, Centum is definitely on the list. To paraphrase Ben Graham: In the short run, the market is like a voting machine-- tallying up which firms are popular and unpopular. But in the long run, the market is like a weighing machine-- assessing the substance of a company. Soda is going out of fashion and so are hard copy books. While people are increasingly flying..
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Chief Joined: 1/3/2007 Posts: 18,103 Location: Nairobi
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obiero wrote:VituVingiSana wrote:I'll keep this little reminder. When quoting the below, do quote the entire post. As of 8th May 2019, I remain bullish on Centum at current prices (32-33). This is slowly heading towards Tier 1 status for me. 2018-19 (Year Ended 31st March 2019) will be tough for Centum given the headwinds the economy has faced but I am a patient investor. Some divisions/subsidiaries/investments will underperform. Some will fail. As long as the overall pie grows in the long-term, it is all good. Businesses facing challenges: - Sidian - Amu - Akiira - TRDL+TRLC Gems but they may also face challenges in the future: - Nairobi Bottlers+Almasi - Longhorn - Vipingo - Nabo Some have asked me for my next set of picks to replace KK. Well, Centum is definitely on the list. To paraphrase Ben Graham: In the short run, the market is like a voting machine-- tallying up which firms are popular and unpopular. But in the long run, the market is like a weighing machine-- assessing the substance of a company. Soda is going out of fashion and so are hard copy books. While people are increasingly flying.. Soda is going out of fashion
True. That's why Coca-Cola bottlers the world over are expanding their water and juice bottling operations. and so are hard copy books.
True. That's why publishing firms are moving into e-publishing. While people are increasingly flying True. More Kenyans than ever are using Silverstone, Skyward, Fly540, Ethiopian, Emirates, BA, Lufthansa, RwandAir, etc. Soon we will have Uganda Air and Air Tanzania though I doubt they will last very long. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Member Joined: 3/8/2018 Posts: 507 Location: Nairobi
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VituVingiSana wrote:I'll keep this little reminder. When quoting the below, do quote the entire post. As of 8th May 2019, I remain bullish on Centum at current prices (32-33). This is slowly heading towards Tier 1 status for me. 2018-19 (Year Ended 31st March 2019) will be tough for Centum given the headwinds the economy has faced but I am a patient investor. Some divisions/subsidiaries/investments will underperform. Some will fail. As long as the overall pie grows in the long-term, it is all good. Businesses facing challenges: - Sidian - Amu - Akiira - TRDL+TRLC Gems but they may also face challenges in the future: - Nairobi Bottlers+Almasi - Longhorn - Vipingo - Nabo Some have asked me for my next set of picks to replace KK. Well, Centum is definitely on the list. To paraphrase Ben Graham: In the short run, the market is like a voting machine--tallying up which firms are popular and unpopular. But in the long run, the market is like a weighing machine--assessing the substance of a company.
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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VituVingiSana wrote:I'll keep this little reminder. When quoting the below, do quote the entire post. As of 8th May 2019, I remain bullish on Centum at current prices (32-33). This is slowly heading towards Tier 1 status for me. 2018-19 (Year Ended 31st March 2019) will be tough for Centum given the headwinds the economy has faced but I am a patient investor. Some divisions/subsidiaries/investments will underperform. Some will fail. As long as the overall pie grows in the long-term, it is all good. Businesses facing challenges: - Sidian - Amu - Akiira - TRDL+TRLC Gems but they may also face challenges in the future: - Nairobi Bottlers+Almasi - Longhorn - Vipingo - Nabo Some have asked me for my next set of picks to replace KK. Well, Centum is definitely on the list. To paraphrase Ben Graham: In the short run, the market is like a voting machine-- tallying up which firms are popular and unpopular. But in the long run, the market is like a weighing machine-- assessing the substance of a company. Don't forget the company has a debt of ksh.23bn in its books 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:I'll keep this little reminder. When quoting the below, do quote the entire post. As of 8th May 2019, I remain bullish on Centum at current prices (32-33). This is slowly heading towards Tier 1 status for me. 2018-19 (Year Ended 31st March 2019) will be tough for Centum given the headwinds the economy has faced but I am a patient investor. Some divisions/subsidiaries/investments will underperform. Some will fail. As long as the overall pie grows in the long-term, it is all good. Businesses facing challenges: - Sidian - Amu - Akiira - TRDL+TRLC Gems but they may also face challenges in the future: - Nairobi Bottlers+Almasi - Longhorn - Vipingo - Nabo Some have asked me for my next set of picks to replace KK. Well, Centum is definitely on the list. To paraphrase Ben Graham: In the short run, the market is like a voting machine-- tallying up which firms are popular and unpopular. But in the long run, the market is like a weighing machine-- assessing the substance of a company. Don't forget the company has a debt of ksh.23bn in its books Yes, with assets of 67bn+ (which includes cash and near cash) so debt is less than 33% of the total assets. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Member Joined: 7/1/2009 Posts: 256
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VituVingiSana wrote:obiero wrote:VituVingiSana wrote:I'll keep this little reminder. When quoting the below, do quote the entire post. As of 8th May 2019, I remain bullish on Centum at current prices (32-33). This is slowly heading towards Tier 1 status for me. 2018-19 (Year Ended 31st March 2019) will be tough for Centum given the headwinds the economy has faced but I am a patient investor. Some divisions/subsidiaries/investments will underperform. Some will fail. As long as the overall pie grows in the long-term, it is all good. Businesses facing challenges: - Sidian - Amu - Akiira - TRDL+TRLC Gems but they may also face challenges in the future: - Nairobi Bottlers+Almasi - Longhorn - Vipingo - Nabo Some have asked me for my next set of picks to replace KK. Well, Centum is definitely on the list. To paraphrase Ben Graham: In the short run, the market is like a voting machine-- tallying up which firms are popular and unpopular. But in the long run, the market is like a weighing machine-- assessing the substance of a company. Soda is going out of fashion and so are hard copy books. While people are increasingly flying.. Soda is going out of fashion
True. That's why Coca-Cola bottlers the world over are expanding their water and juice bottling operations. and so are hard copy books.
True. That's why publishing firms are moving into e-publishing. While people are increasingly flying True. More Kenyans than ever are using Silverstone, Skyward, Fly540, Ethiopian, Emirates, BA, Lufthansa, RwandAir, etc. Soon we will have Uganda Air and Air Tanzania though I doubt they will last very long. @VVS The last one...mischievous! I'm surprised @Obiero didn't have a comeback 
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Rank: Member Joined: 9/14/2011 Posts: 834 Location: nairobi
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VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:I'll keep this little reminder. When quoting the below, do quote the entire post. As of 8th May 2019, I remain bullish on Centum at current prices (32-33). This is slowly heading towards Tier 1 status for me. 2018-19 (Year Ended 31st March 2019) will be tough for Centum given the headwinds the economy has faced but I am a patient investor. Some divisions/subsidiaries/investments will underperform. Some will fail. As long as the overall pie grows in the long-term, it is all good. Businesses facing challenges: - Sidian - Amu - Akiira - TRDL+TRLC Gems but they may also face challenges in the future: - Nairobi Bottlers+Almasi - Longhorn - Vipingo - Nabo Some have asked me for my next set of picks to replace KK. Well, Centum is definitely on the list. To paraphrase Ben Graham: In the short run, the market is like a voting machine-- tallying up which firms are popular and unpopular. But in the long run, the market is like a weighing machine-- assessing the substance of a company. Don't forget the company has a debt of ksh.23bn in its books Yes, with assets of 67bn+ (which includes cash and near cash) so debt is less than 33% of the total assets. Hopefully those assets are really worth 67bn
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Rank: Chief Joined: 1/3/2007 Posts: 18,103 Location: Nairobi
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heri wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:I'll keep this little reminder. When quoting the below, do quote the entire post. As of 8th May 2019, I remain bullish on Centum at current prices (32-33). This is slowly heading towards Tier 1 status for me. 2018-19 (Year Ended 31st March 2019) will be tough for Centum given the headwinds the economy has faced but I am a patient investor. Some divisions/subsidiaries/investments will underperform. Some will fail. As long as the overall pie grows in the long-term, it is all good. Businesses facing challenges: - Sidian - Amu - Akiira - TRDL+TRLC Gems but they may also face challenges in the future: - Nairobi Bottlers+Almasi - Longhorn - Vipingo - Nabo Some have asked me for my next set of picks to replace KK. Well, Centum is definitely on the list. To paraphrase Ben Graham: In the short run, the market is like a voting machine-- tallying up which firms are popular and unpopular. But in the long run, the market is like a weighing machine-- assessing the substance of a company. Don't forget the company has a debt of ksh.23bn in its books Yes, with assets of 67bn+ (which includes cash and near cash) so debt is less than 33% of the total assets. Hopefully those assets are really worth 67bn Reduce those assets by 17bn to knock out Amu, Akiira, part of TRDL and TRLC, Greenblade and part of Pearl Marina. 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:heri wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:I'll keep this little reminder. When quoting the below, do quote the entire post. As of 8th May 2019, I remain bullish on Centum at current prices (32-33). This is slowly heading towards Tier 1 status for me. 2018-19 (Year Ended 31st March 2019) will be tough for Centum given the headwinds the economy has faced but I am a patient investor. Some divisions/subsidiaries/investments will underperform. Some will fail. As long as the overall pie grows in the long-term, it is all good. Businesses facing challenges: - Sidian - Amu - Akiira - TRDL+TRLC Gems but they may also face challenges in the future: - Nairobi Bottlers+Almasi - Longhorn - Vipingo - Nabo Some have asked me for my next set of picks to replace KK. Well, Centum is definitely on the list. To paraphrase Ben Graham: In the short run, the market is like a voting machine-- tallying up which firms are popular and unpopular. But in the long run, the market is like a weighing machine-- assessing the substance of a company. Don't forget the company has a debt of ksh.23bn in its books Yes, with assets of 67bn+ (which includes cash and near cash) so debt is less than 33% of the total assets. Hopefully those assets are really worth 67bn Reduce those assets by 17bn to knock out Amu, Akiira, part of TRDL and TRLC, Greenblade and part of Pearl Marina. Which ones are Cash Generating Units Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Member Joined: 3/8/2018 Posts: 507 Location: Nairobi
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heri wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:I'll keep this little reminder. When quoting the below, do quote the entire post. As of 8th May 2019, I remain bullish on Centum at current prices (32-33). This is slowly heading towards Tier 1 status for me. 2018-19 (Year Ended 31st March 2019) will be tough for Centum given the headwinds the economy has faced but I am a patient investor. Some divisions/subsidiaries/investments will underperform. Some will fail. As long as the overall pie grows in the long-term, it is all good. Businesses facing challenges: - Sidian - Amu - Akiira - TRDL+TRLC Gems but they may also face challenges in the future: - Nairobi Bottlers+Almasi - Longhorn - Vipingo - Nabo Some have asked me for my next set of picks to replace KK. Well, Centum is definitely on the list. To paraphrase Ben Graham: In the short run, the market is like a voting machine-- tallying up which firms are popular and unpopular. But in the long run, the market is like a weighing machine-- assessing the substance of a company. Don't forget the company has a debt of ksh.23bn in its books Yes, with assets of 67bn+ (which includes cash and near cash) so debt is less than 33% of the total assets. Hopefully those assets are really worth 67bn Actually they are worth more. Centum is conservative in its valuations. Realized price upon sale is always higher.
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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rwitre wrote:heri wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:I'll keep this little reminder. When quoting the below, do quote the entire post. As of 8th May 2019, I remain bullish on Centum at current prices (32-33). This is slowly heading towards Tier 1 status for me. 2018-19 (Year Ended 31st March 2019) will be tough for Centum given the headwinds the economy has faced but I am a patient investor. Some divisions/subsidiaries/investments will underperform. Some will fail. As long as the overall pie grows in the long-term, it is all good. Businesses facing challenges: - Sidian - Amu - Akiira - TRDL+TRLC Gems but they may also face challenges in the future: - Nairobi Bottlers+Almasi - Longhorn - Vipingo - Nabo Some have asked me for my next set of picks to replace KK. Well, Centum is definitely on the list. To paraphrase Ben Graham: In the short run, the market is like a voting machine-- tallying up which firms are popular and unpopular. But in the long run, the market is like a weighing machine-- assessing the substance of a company. Don't forget the company has a debt of ksh.23bn in its books Yes, with assets of 67bn+ (which includes cash and near cash) so debt is less than 33% of the total assets. Hopefully those assets are really worth 67bn Actually they are worth more. Centum is conservative in its valuations. Realized price upon sale is always higher. They are worth less. Remember they had to value down their holding in Isuzu Motors. Same as the land which they hold is valued more e.g an acre at Two Rivers at ksh.450mn really? Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Member Joined: 3/8/2018 Posts: 507 Location: Nairobi
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Ericsson wrote:rwitre wrote:heri wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:I'll keep this little reminder. When quoting the below, do quote the entire post. As of 8th May 2019, I remain bullish on Centum at current prices (32-33). This is slowly heading towards Tier 1 status for me. 2018-19 (Year Ended 31st March 2019) will be tough for Centum given the headwinds the economy has faced but I am a patient investor. Some divisions/subsidiaries/investments will underperform. Some will fail. As long as the overall pie grows in the long-term, it is all good. Businesses facing challenges: - Sidian - Amu - Akiira - TRDL+TRLC Gems but they may also face challenges in the future: - Nairobi Bottlers+Almasi - Longhorn - Vipingo - Nabo Some have asked me for my next set of picks to replace KK. Well, Centum is definitely on the list. To paraphrase Ben Graham: In the short run, the market is like a voting machine-- tallying up which firms are popular and unpopular. But in the long run, the market is like a weighing machine-- assessing the substance of a company. Don't forget the company has a debt of ksh.23bn in its books Yes, with assets of 67bn+ (which includes cash and near cash) so debt is less than 33% of the total assets. Hopefully those assets are really worth 67bn Actually they are worth more. Centum is conservative in its valuations. Realized price upon sale is always higher. They are worth less. Remember they had to value down their holding in Isuzu Motors. Same as the land which they hold is valued more e.g an acre at Two Rivers at ksh.450mn really? That’s one aspect. Look at it this way: - The entire real estate portfolio, the carrying value in HY19 was 33.4B, which was higher that the 30.5B for FY18. - Private equity (Almasi, Sidian, Isuzu, Nabo, etc.), the carrying value for HY19 was 23.5B, lower than the 25.3B for FY18. Here, the valuation may include a discounted multiple. e.g. For Almasi is 6.94x and for Sidian its 1.16x. When the sale is made, the price obtained will be higher than the value previously assigned. - Marketable securities had the HY19 value being 4.7B, less than the 5.3B for FY18. Here the value is taken at market price, but in total forms a small portion of Centum's entire portfolio. - Development (Amu, Akiira and co.), carrying value for HY19 was 5.3B, higher than the 5B for FY18
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Rank: Chief Joined: 1/3/2007 Posts: 18,103 Location: Nairobi
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Vitafoam sets up Sh10 million Two Rivers showroom https://www.businessdail...13332-uy9n28/index.html
>>> Centum needs all the help it can get at Two Rivers! 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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Fy2019 announcement date- June 12th, 2019. If 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: Chief Joined: 1/3/2007 Posts: 18,103 Location: Nairobi
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Mastermind wrote:Fy2019 announcement date- June 12th, 2019. Ndani! Though Centum is a long-term holding. The weak real estate market must hurt. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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