What happens on that day.
Half year results or what

He is waiting for instructions from above....

seconded. This share needs activist investors to stir actions that unlock the value... It's book value is 35!! That's a massive discount

next year i project a dividend of kshs 0.90 from these year kshs 0.85

😆😆😆

Seems yesterdays share price rally was due to the half year results

Kenya Re's after-tax profit for the six months to June 30th dipped 24.1% to Sh1.23bn from Sh1.62bn in HY 2017, as total income fell 5.7% to Sh8.31bn from Sh8.81bn, while expenses rose 0.8% to Sh6.56bn from Sh6.51bn.

Notably, the re-insurer increased its provisions for doubtful debt six-fold to Sh619.76m, from Sh104.33m in HY2017.

The financial statements are signed by Jadiah Mwarania, principal officer, David Kemei, chairman, and Anthony Munyao, a director.

Results out.
Investor Briefing tomorrow.

PAT down due to increased provisions
Provisions +500mn yoy
Receivables down
Cash and near-cash up (20bn)

Decent results given the huge provisions BUT that also raises a red flag.
Why didn't KenRe write off these amounts earlier?
Why do they allow unpaid premiums to pile up?

The moment the unpaid premium gets to 30 days, then cancel the policy.
Perhaps only count as income those premiums that are paid even if using accrual accounting, KenRe can "provide" for unpaid premiums as a contra item.

Of course, there could be an element of cleaning up the books so 2H looks better.

Were they in the same room?
#BringMwaraniaBack worked

Tactic of painting a bad picture that the chairman and the acting MD were failures during the time Mwarania was ejected.