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Nation Media Group HY 2019 profit down 24%
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aemathenge
#111 Posted : Wednesday, August 25, 2021 10:27:47 AM
Rank: Elder

Joined: 10/18/2008
Posts: 3,434
Location: Kerugoya
"Is this the long awaited inflexion Point?"

Quote:
PERFORMANCE
The recovery in business performance that started in the second half of 2020 has continued to hold up to June 2021, mainly attributable to growth in print and television advertising revenue, digital advertising revenue, E paper and Nation.Africa subscriptions.

Commentary

Advertisers faced devastating financial challenges, scaled down operations and held back marketing activities in a fight for survival and several closed down...

Translated roughly The traditional advertising and media cheese model has moved for good.


Source: https://www.rich.co.ke/rcdata/company.php?i=MTA%3D
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My 2 cents
#112 Posted : Wednesday, August 25, 2021 11:17:42 AM
Rank: Veteran

Joined: 6/2/2010
Posts: 1,089
Interim Dividend?
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Ebenyo
#113 Posted : Wednesday, August 25, 2021 11:21:18 AM
Rank: Veteran

Joined: 4/4/2016
Posts: 2,016
Location: Kitale
[quote=aemathenge]"Is this the long awaited inflexion Point?"

Quote:
PERFORMANCE
The recovery in business performance that started in the second half of 2020 has continued to hold up to June 2021, mainly attributable to growth in print and television advertising revenue, digital advertising revenue, E paper and Nation.Africa subscriptions.

Commentary

Advertisers faced devastating financial challenges, scaled down operations and held back marketing activities in a fight for survival and several closed down...

Translated roughly The traditional advertising and media cheese model has moved for good.


Source: https://www.rich.co.ke/r...ta/company.php?i=MTA%3D[/quote]

The turnaround is paying off
Towards the goal of financial freedom
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My 2 cents
#114 Posted : Wednesday, August 25, 2021 6:54:31 PM
Rank: Veteran

Joined: 6/2/2010
Posts: 1,089
Lots of cash on the balance sheet and they still dont declare an interim. Perhaps they don't want to excite the share price before they complete their buybacks. They talk about future investments blah blah blah; they really should be more aggressive in the buyback scheme. Like buying more than 1 billion upwards worth - rather than the paltry 400M that is currently ongoing.
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Ebenyo
#115 Posted : Wednesday, August 25, 2021 6:58:19 PM
Rank: Veteran

Joined: 4/4/2016
Posts: 2,016
Location: Kitale
My 2 cents wrote:
Lots of cash on the balance sheet and they still dont declare an interim. Perhaps they don't want to excite the share price before they complete their buybacks. They talk about future investments blah blah blah; they really should be more aggressive in the buyback scheme. Like buying more than 1 billion upwards worth - rather than the paltry 400M that is currently ongoing.

Towards the goal of financial freedom
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My 2 cents
#116 Posted : Wednesday, August 25, 2021 6:58:46 PM
Rank: Veteran

Joined: 6/2/2010
Posts: 1,089
It sort of shows lack of long-term thinking when in 2020 they give a 1-10 bonus, hence creating more shares. Then in 2021 turn around and mop up 10% of the share pool. Lack of foresight, lack of direction. Kuyumbayumba tu. I cringe when I read their annual reports, littered with pictures of old men in oversize suits trying to steer an old and dying business model in a new digital age. Laughable. They should hand the strategic thinking for this company to younger folks.
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VituVingiSana
#117 Posted : Wednesday, August 25, 2021 7:21:31 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
Elephant Man wrote:
NMG/Jubilee/DTB/Serena - same wazzap group?

Share prices on all have taken a hammering over the last couple of years...
Most NSE counters have been hammered regardless of financial performance.

Of the 4...

TPSEA got whacked out of the blue esp COVID. And the problems started with PEV2008 when tourism was devastated.

Jubilee is the best financial performer. Lots of cash equivalents and cash-earning assets.

DTB is all about self-inflicted wounds.

NMG is in an industry that started dying years ago. Even its other foreign counterparts have been hurt. Warren Buffett gave up and sold off Berkshire's media assets.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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VituVingiSana
#118 Posted : Wednesday, August 25, 2021 7:29:07 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
My 2 cents wrote:
It sort of shows lack of long-term thinking when in 2020 they give a 1-10 bonus, hence creating more shares. Then in 2021 turn around and mop up 10% of the share pool. Lack of foresight, lack of direction. Kuyumbayumba tu. I cringe when I read their annual reports, littered with pictures of old men in oversize suits trying to steer an old and dying business model in a new digital age. Laughable. They should hand the strategic thinking for this company to younger folks.

I found this odd too. They should have paid a dividend instead. That said, the buyback does amount to a tax-free dividend of sorts if you sell your "bonus" to NMG but I agree it doesn't make sense to me.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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VituVingiSana
#119 Posted : Wednesday, August 25, 2021 7:30:39 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
My 2 cents wrote:
Lots of cash on the balance sheet and they still dont declare an interim. Perhaps they don't want to excite the share price before they complete their buybacks. They talk about future investments blah blah blah; they really should be more aggressive in the buyback scheme. Like buying more than 1 billion upwards worth - rather than the paltry 400M that is currently ongoing.

On the interim dividend, it may not be on their agenda. I like interim dividends but they are a lot of work for nothing for listed firms when one considers the costs of paying dividends.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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My 2 cents
#120 Posted : Wednesday, August 25, 2021 7:42:50 PM
Rank: Veteran

Joined: 6/2/2010
Posts: 1,089
In more developed capital markets, most dividends are actually paid quarterly. In Kenya, the holdings per investor are too small so perhaps interims are not worth the processing hustle. But it does mean that dividend liquidity in the economy is concentrated in may/jun when most banks and other companies pay out a final. Am glad the CBK made Safaricom split theirs in two this year.
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