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Unga Group FY 2019 profit down 30%
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Ebenyo
#1 Posted : Saturday, September 28, 2019 9:26:36 AM
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Joined: 4/4/2016
Posts: 1,997
Location: Kitale
Unga group financial results for year ended 30th June 2019 are out.
https://kenyanwallstreet...ports-30-drop-in-profit/
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Ericsson
#2 Posted : Saturday, September 28, 2019 10:58:28 AM
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Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
Ebenyo wrote:
Unga group financial results for year ended 30th June 2019 are out.
https://kenyanwallstreet...orts-30-drop-in-profit/


Profit before tax declined by more than 50% from ksh.1.293bn to 615mn

https://www.nse.co.ke/li...suer-announcements.html
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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VituVingiSana
#3 Posted : Saturday, September 28, 2019 10:28:11 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,103
Location: Nairobi
Ericsson wrote:
Ebenyo wrote:
Unga group financial results for year ended 30th June 2019 are out.
https://kenyanwallstreet...orts-30-drop-in-profit/


Profit before tax declined by more than 50% from ksh.1.293bn to 615mn

https://www.nse.co.ke/li...suer-announcements.html
Tough Economy. Tough year. At least it remained profitable and is paying a dividend albeit 50% vs 2018.

New wheat plant will contribute for the full FY 2019-2020.
New soya meal plant will contribute for the full FY 2019-2020.

2019-2020 is looking tough though for manufacturing firms.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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2012
#4 Posted : Monday, November 11, 2019 8:42:41 AM
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Joined: 12/9/2009
Posts: 6,592
Location: Nairobi
#WhiteAlert

Time to take the heat. Hope the kitchen won't be to hot for this counter.

BBI will solve it :)
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Ericsson
#5 Posted : Friday, February 28, 2020 3:55:49 PM
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Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
Ebenyo wrote:
Unga group financial results for year ended 30th June 2019 are out.
https://kenyanwallstreet...orts-30-drop-in-profit/


Profit before tax declined by more than 50% from ksh.1.293bn to 615mn

https://www.nse.co.ke/li...suer-announcements.html
Tough Economy. Tough year. At least it remained profitable and is paying a dividend albeit 50% vs 2018.

New wheat plant will contribute for the full FY 2019-2020.
New soya meal plant will contribute for the full FY 2019-2020.

2019-2020 is looking tough though for manufacturing firms.

Profit warning pap.
https://www.nse.co.ke/li...months-ended-31-dec-2019
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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VituVingiSana
#6 Posted : Friday, February 28, 2020 8:03:30 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,103
Location: Nairobi
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
Ebenyo wrote:
Unga group financial results for year ended 30th June 2019 are out.
https://kenyanwallstreet...orts-30-drop-in-profit/


Profit before tax declined by more than 50% from ksh.1.293bn to 615mn

https://www.nse.co.ke/li...suer-announcements.html
Tough Economy. Tough year. At least it remained profitable and is paying a dividend albeit 50% vs 2018.

New wheat plant will contribute for the full FY 2019-2020.
New soya meal plant will contribute for the full FY 2019-2020.

2019-2020 is looking tough though for manufacturing firms.

Profit warning pap.
https://www.nse.co.ke/li...onths-ended-31-dec-2019
No surprise there. I had braced for it. The next 6 months will not be any easier.
Huge VAT refund outstanding. It was 400mn+ in June 2019 but I doubt there has been much change seeing how GoK has not been paying legitimate creditors.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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xtina
#7 Posted : Monday, March 09, 2020 12:34:03 PM
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Joined: 6/26/2008
Posts: 384
I am in several lifestyle groups in FB and in two recent polls carried out in these groups, Unga products came out tops and had a strong brand presence, with Famila uji and Exe products mentioned almost universally. Nothing scientific about that poll and totally anecdotal, but Unga has loyal users.
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VituVingiSana
#8 Posted : Tuesday, March 10, 2020 9:31:34 AM
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xtina wrote:
I am in several lifestyle groups in FB and in two recent polls carried out in these groups, Unga products came out tops and had a strong brand presence, with Famila uji and Exe products mentioned almost universally. Nothing scientific about that poll and totally anecdotal, but Unga has loyal users.

Even before I bought my first share in Unga, its products were staples in the VVS household/family.

Elianto (sold to Bidco)
Buitoni (no idea what happened to the brand)
Elliot's (sold)
And of course the eponymous "Unga" products including EXE, Jogoo, etc

Of course, we had fewer choices at the time.

Bidco, Kapa, etc were not around. We had few imports (or local products) to compete vs Buitoni. The others eg Mombasa Millers, Kitui Millers, etc were probably small players.
Supaloaf, Akiyda, Broadway, etc were much smaller or not present.

I am not sure where Unga went wrong but it is not the giant it was.

From time to time I will buy "freshly milled" flour or take my own grains for milling but "Unga" remains the preferred brand when I buy pre-milled products.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Ericsson
#9 Posted : Friday, September 25, 2020 10:57:35 AM
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Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
https://mobile.twitter.c...381890613313537/photo/1

FY ending June 2020 results
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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VituVingiSana
#10 Posted : Friday, September 25, 2020 11:24:25 AM
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Ericsson wrote:
https://mobile.twitter.com/tradingroomke/status/1309381890613313537/photo/1

FY ending June 2020 results
Awful. Blaming the usual suspect.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Ebenyo
#11 Posted : Saturday, September 26, 2020 4:33:10 AM
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Joined: 4/4/2016
Posts: 1,997
Location: Kitale
VituVingiSana wrote:
Ericsson wrote:
https://mobile.twitter.com/tradingroomke/status/1309381890613313537/photo/1

FY ending June 2020 results
Awful. Blaming the usual suspect.



At least it's a profit.Though a big drop from 500m to 66m.Better than a loss
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obiero
#12 Posted : Saturday, September 26, 2020 6:24:37 AM
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Joined: 6/23/2009
Posts: 13,516
Location: nairobi
Ebenyo wrote:
VituVingiSana wrote:
Ericsson wrote:
https://mobile.twitter.com/tradingroomke/status/1309381890613313537/photo/1

FY ending June 2020 results
Awful. Blaming the usual suspect.



At least it's a profit.Though a big drop from 500m to 66m.Better than a loss

Remember that this is their full year result. H1 will definitely be a loss. Only banks and Safaricom will get through the C19 with minor scratches, the rest are severely wounded

HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Ericsson
#13 Posted : Saturday, September 26, 2020 7:20:45 AM
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Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
Ebenyo wrote:
VituVingiSana wrote:
Ericsson wrote:
https://mobile.twitter.com/tradingroomke/status/1309381890613313537/photo/1

FY ending June 2020 results
Awful. Blaming the usual suspect.



At least it's a profit.Though a big drop from 500m to 66m.Better than a loss


If you compare the half year results and Full year, second half the company made a loss.
If you project to H1 2020/2021 it is going to be a loss
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ericsson
#14 Posted : Saturday, September 26, 2020 12:37:38 PM
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Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
obiero wrote:
Ebenyo wrote:
VituVingiSana wrote:
Ericsson wrote:
https://mobile.twitter.com/tradingroomke/status/1309381890613313537/photo/1

FY ending June 2020 results
Awful. Blaming the usual suspect.



At least it's a profit.Though a big drop from 500m to 66m.Better than a loss

Remember that this is their full year result. H1 will definitely be a loss. Only banks and Safaricom will get through the C19 with minor scratches, the rest are severely wounded

And BAT will also get through.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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VituVingiSana
#15 Posted : Saturday, September 26, 2020 9:28:04 PM
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Joined: 1/3/2007
Posts: 18,103
Location: Nairobi
Ericsson wrote:
Ebenyo wrote:
VituVingiSana wrote:
Ericsson wrote:
https://mobile.twitter.com/tradingroomke/status/1309381890613313537/photo/1

FY ending June 2020 results
Awful. Blaming the usual suspect.



At least it's a profit.Though a big drop from 500m to 66m.Better than a loss


If you compare the half year results and Full year, second half the company made a loss.
If you project to H1 2020/2021 it is going to be a loss
Yes, 1H 2020-2021 looks dire but they have managed to keep debt under check. There is an increase in current liabilities offset with current assets. I am waiting for the annual report but that increase in CA looks like inventory funded by supplier debt.

The problem with Balance Sheets is they are snapshots taken at specific days. The situation could change within a month once the raw materials are milled and out the door.

Unga needs to reduce operational expenses during this pandemic or it will continue to struggle.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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