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Access Kenya report ploy
Surealligator
#1 Posted : Wednesday, August 18, 2010 12:14:03 PM
Rank: User


Joined: 6/27/2008
Posts: 709
Location: Velayat-e Faryab
Is the company trying to fool anyone by stating that Gross Margins went up by 68% in H1 of 2010 compared to 44% in H1 of 2009? This has been presented on the line right after the EPS where DPS should be. On a closer look, you note the company has been bleeding money buying items the never planned for. H1 2010 EPS is .15 compared to .37 for H1 2009.

Someone here sounds desperate.
Go overdrive in purchasing the goods when there's blood on the streets, expecially if the blood is your own
muganda
#2 Posted : Wednesday, August 18, 2010 12:22:55 PM
Rank: Elder


Joined: 9/15/2006
Posts: 3,905
Whoophh! @surealligator, you pull no punches smile

Just gone through the results though - tough - http://www.nse.co.ke/new...lf%20year%20results.pdf

As with life, too many explanations when things go wrong. OVer 50% reduction in profit before tax and long stories about Safaricom, (eeeh pardon me) sorry, Foreign Exchange Loss... Are they fuel hedging like the airline industry?

Notice decline in turnover - tough!

Wa_ithaka
#3 Posted : Wednesday, August 18, 2010 12:24:00 PM
Rank: Veteran


Joined: 1/7/2010
Posts: 1,279
Location: nbi
Thengio Ngai I sold my speculative shares at Ksh21.50+. The numbers are anything but happiness. Turnover down 20% and then the joy of joys, AK has taken on a foreign currency denominated loan which has increased finance cost by almost ksh40m. Why not just do a cheap bond locally?
http://www.nse.co.ke/new...nouncements&sid=1063
The Governor of Nyeri - 2017
bartum
#4 Posted : Wednesday, August 18, 2010 12:24:12 PM
Rank: Veteran


Joined: 8/11/2010
Posts: 1,011
Location: nairobi
my valuation of access is 13.50
cnn
#5 Posted : Wednesday, August 18, 2010 12:31:43 PM
Rank: Veteran


Joined: 6/17/2009
Posts: 1,619
And some people here still talk up this share.If you have Access cut your losses,flee and dont look back.I cant see them make it.
PKoli
#6 Posted : Wednesday, August 18, 2010 12:34:56 PM
Rank: Elder


Joined: 2/10/2007
Posts: 1,587
Surealligator wrote:
Is the company trying to fool anyone by stating that Gross Margins went up by 68% in H1 of 2010 compared to 44% in H1 of 2009? This has been presented on the line right after the EPS where DPS should be. On a closer look, you note the company has been bleeding money buying items the never planned for. H1 2010 EPS is .15 compared to .37 for H1 2009.

Someone here sounds desperate.


They should have presented the numbers without the commentary. I am not very impressed
anasazi
#7 Posted : Wednesday, August 18, 2010 12:39:33 PM
Rank: Veteran


Joined: 6/8/2007
Posts: 675
AK wanapelekwa mbio. Competition has really hit them hard, so it must really be squeeky bum time there.
Form is temporary, class is permanent
PKoli
#8 Posted : Wednesday, August 18, 2010 12:47:08 PM
Rank: Elder


Joined: 2/10/2007
Posts: 1,587
anasazi wrote:
AK wanapelekwa mbio. Competition has really hit them hard, so it must really be squeeky bum time there.


Best opportunity was when safcom was looking for small companies to buy. They must have raised their stakes so high that safcom shied off.
slykat
#9 Posted : Wednesday, August 18, 2010 12:50:45 PM
Rank: Member


Joined: 2/20/2007
Posts: 359
Surealligator wrote:
On a closer look, you note the company has been bleeding money buying items the never planned for.

Someone here sounds desperate.


Laughing out loudly Laughing out loudly It's called "taking advantage of special offers" Laughing out loudly Laughing out loudly . I thought it was wags who are given to impulsive shopping, kumbe Access pia! Laughing out loudly Laughing out loudly .I quit when it hit 16 after IPO and never looked at it again. Small listed outfits have a way of conveniently leaking funds...especially if they are family oriented...or have a few majority owners. and NSE wants to introduce a segment for them...dah!
VituVingiSana
#10 Posted : Wednesday, August 18, 2010 1:06:39 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,136
Location: Nairobi
I sold most of mine... I have very, very few... so I could not care... Safaricom is eating their lunch on data... Zuku is also quite aggressive tho poor quality...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Gordon Gekko
#11 Posted : Wednesday, August 18, 2010 1:11:03 PM
Rank: Elder


Joined: 5/27/2008
Posts: 3,760
Safaricon, will you buy out this outfit and put them (and me) out of their misery?
qw25041985
#12 Posted : Wednesday, August 18, 2010 1:11:32 PM
Rank: User


Joined: 5/9/2010
Posts: 1,418
Location: Nai
This is a whack company. Who can the eps be halved by a half !!!
Your future depends on your dreams so go to sleep !
the deal
#13 Posted : Wednesday, August 18, 2010 1:18:34 PM
Rank: Elder


Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
uhmmm some.Wazuarians r verry pregnant with AK....
youcan'tstopusnow
#14 Posted : Wednesday, August 18, 2010 1:19:15 PM
Rank: Chief


Joined: 3/24/2010
Posts: 6,779
Location: Black Africa
qw25041985 wrote:
This is a whack company. Who can the eps be halved by a half !!!

Are you going to sell your stake?
GOD BLESS YOUR LIFE
slykat
#15 Posted : Wednesday, August 18, 2010 1:22:40 PM
Rank: Member


Joined: 2/20/2007
Posts: 359
youcan'tstopusnow wrote:
qw25041985 wrote:
This is a whack company. Who can the eps be halved by a half !!!

Are you going to sell your stake?


If someone angrily yells, this is a whack wife, you know she is being divorced...he is on the phone with his broker, as he should.
ProverB
#16 Posted : Wednesday, August 18, 2010 1:23:14 PM
Rank: Veteran


Joined: 3/12/2010
Posts: 1,199
Location: Eastlander
qw25041985 wrote:
This is a whack company. Who can the eps be halved by a half !!!


i'm sooooo tempted to paste a post you put about amonth ago screaming BUY!BUY!BUY! Laughing out loudly Laughing out loudly
..Let your light so shine before men, that they may see your good works, and glorify your Father which is in heaven...Matt5:16
- 1769 Oxford King James Bible 'Authorized Version
2012
#17 Posted : Wednesday, August 18, 2010 1:25:02 PM
Rank: Elder


Joined: 12/9/2009
Posts: 6,592
Location: Nairobi
The "commentary" on the left side of the statement is such a contradiction of the "income statement" on the right! I wonder how much they are paying the wordsmith or the PR guru who worked on this masterpiece.

BBI will solve it
:)
qw25041985
#18 Posted : Wednesday, August 18, 2010 1:32:49 PM
Rank: User


Joined: 5/9/2010
Posts: 1,418
Location: Nai
Yep . I remember i screamd buy buy buy on this. But it seems my worst fear has bn confirmed .
I hope t.a can save me here. I am sure there are investors who will 'see' potential in this counter and hold it from collapse .
Your future depends on your dreams so go to sleep !
ProverB
#19 Posted : Wednesday, August 18, 2010 1:38:44 PM
Rank: Veteran


Joined: 3/12/2010
Posts: 1,199
Location: Eastlander
the only upside here is the lower the price the greater the dividend yield.. before books close on september 2nd... ..NICE.. smile smile
currently at kshs 19.00 & Div of 0.30 means yield is about 1.58%... Dividend yield of 2.5% or more is suitable for me..meaning..good to buy at 12.00? wow....okay..that's abit improbable.. 14-15 may be.
..Let your light so shine before men, that they may see your good works, and glorify your Father which is in heaven...Matt5:16
- 1769 Oxford King James Bible 'Authorized Version
tkzee
#20 Posted : Wednesday, August 18, 2010 1:41:07 PM
Rank: Member


Joined: 7/13/2010
Posts: 160
Location: rift Valley-Naks
Am glad i got rid of my 7000 holdings @ 21.25 after holding for close to two months,but still chewing stress coz i put the money in KK which seems to have stagnated.
''i can calculate the motion of heavenly bodies,but not the madness of people''-Isaac Newton
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