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luxel
#401 Posted : Friday, May 25, 2012 3:52:54 PM
Rank: Member

Joined: 7/17/2008
Posts: 152
e_kijana wrote:
from Co-op Q1 results:
Share of profits from associate - CIC in Q1 is at a Massive Ksh 121M

Considering that Co-op owns ~26% of CIC, It means that CIC Q1 profits is Ksh 465M. They have achieved in Q1 slightly more that half what they achieved in 4 quarters OF 2011. This will be a muscular year for CIC!!



Assuming the listing price of kshs3.50 was arrived at using the 2011 full year financial statements where CIC made kshs.700M PBT, what do you think shall be the price next year when CIC reports kshs 1.8 Billion.

I know there are other factors to consider but my guess kshs 7.50 to 10.
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the deal
#402 Posted : Friday, May 25, 2012 4:15:16 PM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
Share of associates profits=dividends+ Coop's share of PBT...its Q1 too early to call claims can still come along the year.
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e_kijana
#403 Posted : Friday, May 25, 2012 5:07:05 PM
Rank: Member

Joined: 1/17/2009
Posts: 55
@deal, wouldn't that be double counting of profits if dividends and PBT are added. I would think dividend received will only reflect in balance sheet as cash and also in the cash flow stmnt... In P&l only share of PBT will be included... Correct me here...

Agree its too early, they are in the risk business so you never know if they will have a huge claim inQ4.
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the deal
#404 Posted : Friday, May 25, 2012 6:20:41 PM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
e_kijana wrote:
@deal, wouldn't that be double counting of profits if dividends and PBT are added. I would think dividend received will only reflect in balance sheet as cash and also in the cash flow stmnt... In P&l only share of PBT will be included... Correct me here...

Agree its too early, they are in the risk business so you never know if they will have a huge claim inQ4.

IAS28 states that dividends and profits from associates should be grouped together and represented in the P&L as “share of profits from associates” others can confirm smile its early days but looks like CIC is turning to be a cash cow for Coop...its better to buy the cow itself...
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e_kijana
#405 Posted : Friday, May 25, 2012 7:24:35 PM
Rank: Member

Joined: 1/17/2009
Posts: 55
Ok, just checked IAS28 but still stand to be corrected.. Read it to mean the dividend income line that would be in P&L were it not an associate or subsidiary would be Replaced with 'share in profits of associate' once the parent starts recognizing them as associate. So no dividend in P&L henceforth.. I will await any other opinions..
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guru267
#406 Posted : Friday, May 25, 2012 9:21:29 PM
Rank: Elder

Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
e_kijana wrote:
Ok, just checked IAS28 but still stand to be corrected.. Read it to mean the dividend income line that would be in P&L were it not an associate or subsidiary would be Replaced with 'share in profits of associate' once the parent starts recognizing them as associate. So no dividend in P&L henceforth.. I will await any other opinions..


Associate dividends are not included in the P&L... Only the PAT of the associate is included...
Mark 12:29
Deuteronomy 4:16
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mwekez@ji
#407 Posted : Monday, May 28, 2012 9:28:41 AM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
e_kijana wrote:
from Co-op Q1 results:
Share of profits from associate - CIC in Q1 is at a Massive Ksh 121M

Considering that Co-op owns ~26% of CIC, It means that CIC Q1 profits is Ksh 465M. .....


That Q1 income is just too much a gain when compared to their Full Year 2011 PAT which was 584M. I highly doubt whether that income is from normal operations
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bayfieldinsuranceagency
#408 Posted : Tuesday, May 29, 2012 7:40:40 AM
Rank: Hello

Joined: 5/29/2012
Posts: 1
Just received my CIC Dividend chq via posta, mmmhhhhhhhh... sweet, its dated 24th May 2012
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mwekez@ji
#409 Posted : Tuesday, May 29, 2012 8:22:46 AM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
Underwriters cash in on mounting political anxiety with cover against political violence, terrorism and sabotage .

http://www.standardmedia.co.ke/...ng%20political%20anxiety

That is, Jubilee Insurance, Kenya Orient Insurance Ltd, Africa Trade Insurance Agency (ATI), UAP Insurance, and APA Insurance Company and Cannon Assurance

Where is CIC?
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mwekez@ji
#410 Posted : Tuesday, May 29, 2012 8:24:44 AM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
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