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KenolKobil FY13 turnaround + positive FY14 outlook
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mwekez@ji
#11 Posted : Thursday, April 10, 2014 12:02:10 AM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
@VituVingiSana, dunkang, et al, check out the results at wazua google group #KK,iko,poa,Na,mbele,iko,sawa
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muganda
#12 Posted : Thursday, April 10, 2014 12:26:37 AM
Rank: Elder

Joined: 9/15/2006
Posts: 3,907
Oops! Actual results http://ge.tt/2yovqoX1/v/0

So for oil companies, in what order would we rank quality of current assets? Inventories; Hedges; Receivables; Cash
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  | | Edit by user: Thursday, April 10, 2014 12:59 AM | Reason: Ooops!
dunkang
#13 Posted : Thursday, April 10, 2014 12:41:02 AM
Rank: Elder

Joined: 6/2/2011
Posts: 4,824
Location: -1.2107, 36.8831
Sales DOWN by a ~KES80B, but gross profit up. Other income up by ~KES 1B (assets disposal??). Admin expense reduces by ~KES 2B. And why the hell is that tax that kidogo yet last year they enjoyed a lot of tax credit?? (did they win the KPRL case?)

Now now now, they disposed of property worth ~KES880M, ama mimi sijui kusoma??
Receive with simplicity everything that happens to you.” ― Rashi

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  | | Edit by user: Thursday, April 10, 2014 12:52 AM | Reason: Not specified
VituVingiSana
#14 Posted : Thursday, April 10, 2014 1:00:37 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,356
Location: Nairobi
muganda wrote:
Oops! Actual results http://ge.tt/2yovqoX1/v/0

So for oil companies, in what order would we rank quality of current assets? Inventories; Hedges; Receivables; Cash
Asante
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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VituVingiSana
#15 Posted : Thursday, April 10, 2014 1:08:49 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,356
Location: Nairobi
Seems very positive for 2014. The report for 1Q 2014 is quite positive but I hoped the AGM would be after the 1H 2014 results were out so the Management could be questioned on the progress or lack thereof.

There are many questions including:
How much of the high volume but low-risk, low-margin business did they give up?
How has the dispute resolution fared?
How much of the 'gains' are from sale of assets?
How much do they expect to make as profits from the sale of assets in 2014?

PBT less the gains on sale of assets = loss
The low tax rate of 1% is due to the benefits from the loss of 2012 rather than any smarts.

And on and on...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Realtreaty
#16 Posted : Thursday, April 10, 2014 3:00:10 AM
Rank: Elder

Joined: 8/16/2011
Posts: 2,387
Aguytrying wrote:
I'm so happy kk is back in the moneys. this is what I expected.

@realtreaty. see what I was telling you??? this year recovery. next year maybe we target 1bn pat

Yes, you should congratulate me, I kept ringing the bells we will get a DVD. Next year, bonus chiemo!!!!!
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hisah
#17 Posted : Thursday, April 10, 2014 5:51:19 AM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
Revenues down, not the kind of recovery I expected. Still long way to go...
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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dunkang
#18 Posted : Thursday, April 10, 2014 6:17:40 AM
Rank: Elder

Joined: 6/2/2011
Posts: 4,824
Location: -1.2107, 36.8831
Realtreaty wrote:
Aguytrying wrote:
I'm so happy kk is back in the moneys. this is what I expected.

@realtreaty. see what I was telling you??? this year recovery. next year maybe we target 1bn pat

Yes, you should congratulate me, I kept ringing the bells we will get a DVD. Next year, bonus chiemo!!!!!

Wajameni, what good result are you talking about???????

Read post No. 13.

The only good thing in the result is the company commentary (2014 outlook)!!!!

TOTAL (K) IS THE MONEY MAKER!!!!!!!
Receive with simplicity everything that happens to you.” ― Rashi

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murchr
#19 Posted : Thursday, April 10, 2014 6:23:31 AM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
Realtreaty wrote:
Aguytrying wrote:
I'm so happy kk is back in the moneys. this is what I expected.

@realtreaty. see what I was telling you??? this year recovery. next year maybe we target 1bn pat

Yes, you should congratulate me, I kept ringing the bells we will get a DVD. Next year, bonus chiemo!!!!!


Just look at the Net Sales. Sad
Other Income =??
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
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Kausha
#20 Posted : Thursday, April 10, 2014 8:47:24 AM
Rank: Member

Joined: 2/8/2007
Posts: 808
Gross Margins for Oil Marketers are like those of supermarkets. Frankly I like the direction KK is headed and are apprehensive of the direction Total has taken. However time will be the jury. OTS sales are increasingly becoming risky and the cost of financing them vis a vis the profit margins are a weak trade off. Let's just say Total has entered the phase KK is emerging from - margin erosion.

Other income = rentals mostly and sale of property and equipment of 880 - look at the cashflow statement.

With a considerable degree of certainty, KK will make more than the 1.3B in 1H2014 which is what Total made for FY2013 and pay a dividend of about 50cts + - 15cts, which would bring about SOME parity. I would be shorting Total and going long KK at this point.
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