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UNGA FY17 :-(
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Pesa Nane
#1 Posted : Friday, September 29, 2017 11:13:45 AM
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Joined: 5/25/2012
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Sad Kubaya saidi


Full results link https://view.publitas.co...r-ended-30th-june-2017/
Pesa Nane plans to be shilingi when he grows up.
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Pesa Nane
#2 Posted : Friday, September 29, 2017 11:18:42 AM
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Pesa Nane plans to be shilingi when he grows up.
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Pesa Nane
#3 Posted : Friday, September 29, 2017 11:25:15 AM
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Quote:
The Ugandan subsidiary continued to be faced by a challenging business environment leading to an operating loss for the third consecutive year. Bad debt provisions and local currency depreciation against the US dollar significantly worsened its performance. The Board has reached a decision to cease milling operations while it evaluates available business remodelling options going forward. This has necessitated the reporting of the entity as a discontinuing operation.
Pesa Nane plans to be shilingi when he grows up.
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Pesa Nane
#4 Posted : Friday, September 29, 2017 11:28:05 AM
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Quote:
The bakery business was negatively impacted by credit challenges facing the retail sector resulting in an exit from most Nakumatt stores where it had bakery implants and counters. As a consequence, the
business embarked on a strategy to grow volumes and revenue through a direct distribution channel. In spite of this, the significantly reduced operations resulted in a goodwill impairment of Shs 151 million.

The Board nevertheless remains committed to its pursuit of value-added opportunities in the bakery sector,
and has reached an agreement with the minority shareholders to purchase the entire 48% non-controlling
interest (NCI) in Ennsvalley Bakery Limited. The agreed consideration resulted in a gain of Shs 153m. The
goodwill impairment was booked in the Statement of profit or loss while the gain on acquisition of NCI was
recognised directly in retained earnings within shareholders equity.
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wukan
#5 Posted : Friday, September 29, 2017 11:31:41 AM
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Joined: 11/13/2015
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Is there a sector that is doing well in this economy?
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Pesa Nane
#6 Posted : Friday, September 29, 2017 11:47:37 AM
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Quote:
... the Company launched new Famila® packs and
smaller bales aimed at increasing off-take within the general trade.


....The Group commissioned a state-of-the-art fish feed plant and commenced production under the Fugo®
Fish Feed brand. This was achieved through partnership with a number of public and private entities under
the FoodTech Africa consortium to assist in the development of the aquaculture market in the region.



....Grain storage capacity was significantly increased following successful rehabilitation of the Commercial
Street silos and commissioning of new silos in Eldoret. A new grain receiving yard at Commercial Street is now in use. A new wheat mill project is on course for commissioning in Eldoret towards the end of the current financial year.

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Pesa Nane
#7 Posted : Friday, September 29, 2017 11:51:35 AM
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Final Div. Kshs. 1.00

Closure 05 Dec 2017
Payable 15 January 2018

AGM 05 Dec 2017
Pesa Nane plans to be shilingi when he grows up.
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Angelica _ann
#8 Posted : Friday, September 29, 2017 12:14:28 PM
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wukan wrote:
Is there a sector that is doing well in this economy?


Tenderprenuership smile
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Pesa Nane
#9 Posted : Friday, September 29, 2017 1:03:47 PM
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wukan wrote:
Is there a sector that is doing well in this economy?

Sector Cytonn
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mlennyma
#10 Posted : Friday, September 29, 2017 1:43:40 PM
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Pesa Nane wrote:
wukan wrote:
Is there a sector that is doing well in this economy?

Sector Cytonn

waiting for it at 15bob
"Don't let the fear of losing be greater than the excitement of winning."
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VituVingiSana
#11 Posted : Friday, September 29, 2017 2:26:37 PM
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The loss was expected [as I opined earlier] with the maize shortage [poor quality, high prices], issues with Ennsvalley [esp in Nakumatt] and bad debts of Nakumatt.

I hope they have cleaned up the books for a better/stronger 2018-19.

The (bad) news about Uganda was unexpected. They had closed the maize milling plant but it seems they have issues with the wheat mill too. I hope Unga can either sell the factory or use the warehouses for storage/distribution of products from Kenya.

Positive outlook on the expansion of storage and a new factory/plant coming online in late 2018.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Ericsson
#12 Posted : Friday, September 29, 2017 2:51:04 PM
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VituVingiSana wrote:
The loss was expected [as I opined earlier] with the maize shortage [poor quality, high prices], issues with Ennsvalley [esp in Nakumatt] and bad debts of Nakumatt.

I hope they have cleaned up the books for a better/stronger 2018-19.

The (bad) news about Uganda was unexpected. They had closed the maize milling plant but it seems they have issues with the wheat mill too. I hope Unga can either sell the factory or use the warehouses for storage/distribution of products from Kenya.

Positive outlook on the expansion of storage and a new factory/plant coming online in late 2018.

Yaani everything you expected ama is it trying to give yourself soft landing/console yourself.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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VituVingiSana
#13 Posted : Friday, September 29, 2017 3:18:47 PM
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Joined: 1/3/2007
Posts: 18,110
Location: Nairobi
Ericsson wrote:
VituVingiSana wrote:
The loss was expected [as I opined earlier] with the maize shortage [poor quality, high prices], issues with Ennsvalley [esp in Nakumatt] and bad debts of Nakumatt.

I hope they have cleaned up the books for a better/stronger 2018-19.

The (bad) news about Uganda was unexpected. They had closed the maize milling plant but it seems they have issues with the wheat mill too. I hope Unga can either sell the factory or use the warehouses for storage/distribution of products from Kenya.

Positive outlook on the expansion of storage and a new factory/plant coming online in late 2018.

Yaani everything you expected ama is it trying to give yourself soft landing/console yourself.


I expected the losses from maize and Ennsvalley [Nakumatt] since this info has been in the news since 2016. I am glad they bit the bullet instead of pretending Nakumatt will pay!

Uganda - They reported (FY 2015-16) that the maize mill has been scrapped. The news on the wheat mill is a bit of a surprise. The property might be worth something but they should partner with Centum on this!!!

Ennsvalley - I can't figure out what they mean by the "gain" on buying out the minority shareholder. This requires more info.

Kenya expansion - Mentioned in FY 2015-16 Annual Report and at the AGM and the management said these would be immediately profitable since demand for wheat flour is growing.

Maize - The imports seem to have helped normalize the situation going into 2017-18.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Ebenyo
#14 Posted : Friday, September 29, 2017 3:36:45 PM
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Pesa Nane wrote:
Sad Kubaya saidi


Full results link https://view.publitas.co...r-ended-30th-june-2017/




The company need to come up with measures to reduce costs.
Towards the goal of financial freedom
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Ericsson
#15 Posted : Friday, September 29, 2017 3:39:39 PM
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Joined: 12/4/2009
Posts: 10,699
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Don't forget also competition eating into their market share and depressing their margins
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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wukan
#16 Posted : Tuesday, October 03, 2017 2:51:52 PM
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Joined: 11/13/2015
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mlennyma wrote:
Pesa Nane wrote:
wukan wrote:
Is there a sector that is doing well in this economy?

Sector Cytonn

waiting for it at 15bob


With 22 bob per share in cash reserves you can't get it at 15 bob
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Angelica _ann
#17 Posted : Tuesday, October 03, 2017 3:01:05 PM
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Joined: 12/7/2012
Posts: 11,908
wukan wrote:
mlennyma wrote:
Pesa Nane wrote:
wukan wrote:
Is there a sector that is doing well in this economy?

Sector Cytonn

waiting for it at 15bob


With 22 bob per share in cash reserves you can't get it at 15 bob


Which can be wiped out in an instance the way things are going with Kenya politics.... smile
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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obiero
#18 Posted : Tuesday, October 03, 2017 6:08:35 PM
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Joined: 6/23/2009
Posts: 13,521
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Angelica _ann wrote:
wukan wrote:
mlennyma wrote:
Pesa Nane wrote:
wukan wrote:
Is there a sector that is doing well in this economy?

Sector Cytonn

waiting for it at 15bob


With 22 bob per share in cash reserves you can't get it at 15 bob


Which can be wiped out in an instance the way things are going with Kenya politics.... smile

It's already wiped out, check the cashflow

HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Impunity
#19 Posted : Tuesday, October 03, 2017 6:31:21 PM
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Joined: 3/2/2009
Posts: 26,328
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Blame it NASA's ungainly revolution.
Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Angelica _ann
#20 Posted : Tuesday, October 03, 2017 6:49:36 PM
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Joined: 12/7/2012
Posts: 11,908
Impunity wrote:
Blame it NASA's ungainly revolution.


NASA & Baba killing economy!!!
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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