Kakuzi End Of year Result - Stocks - Wazua

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selah		#1 Posted : Friday, March 18, 2011 2:33:07 PM
Rank: Elder Joined: 10/13/2009 Posts: 1,950 Location: in kenya		It has reported reduced profit but it will pay a dividend of 2.50 its Eps reduced from 17.34 to 15.87 I think they have put a provision for a previous overpayment by Delmonte of 109M. i think that provision might have been the cause of this drop. '......to the acknowledgment of the mystery of God, and of the Father, and of Christ; 3 In whom are hid all the treasures of wisdom and knowledge.' Colossians 2:2-3
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VituVingiSana		#2 Posted : Friday, March 18, 2011 3:41:15 PM
Rank: Chief Joined: 1/3/2007 Posts: 18,218 Location: Nairobi		Kakuzi has provided for the full 109mn claimed by Del Monte. Thus the PBT/PAT would have been much higher had this provision not been taken. Seems 2011 will be better [except for lower tea production] but Kakuzi was specific in saying that it is too volatile to predict anything for 2011... Greedy when others are fearful. Very fearful when others are greedy - *to paraphrase Warren Buffett*
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xxxxx		#3 Posted : Friday, March 18, 2011 3:56:11 PM
Rank: Member Joined: 3/20/2008 Posts: 503		VituVingiSana wrote: Kakuzi has provided for the full 109mn claimed by Del Monte. Thus the PBT/PAT would have been much higher had this provision not been taken.... VVS, I don't think the profit would have been any higher without the full provision. This is because the adjustment relates to 2007 and 2008 and therefore should only affect prior year retained earnings through a debit to retained earnings and a credit to provisions....(assuming the accounting is done correctly) This is as opposed to recognising the provision as a current year expense thus affecting current year profit or loss. I suppose the financial statements are not that bad any way.
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Tommy		#4 Posted : Friday, March 18, 2011 4:57:00 PM
Rank: Veteran Joined: 12/9/2010 Posts: 894 Location: Nairobi		At E.P.S of 15.87 is not bad, though i expected higher profits based on the thumps up from wazuans. If the Northern African situations doesn't improve, Then they could be in for a rougher ride this year. Don't wait for the Last Judgment. It happens every day. ~Albert Camus, The Fall, 1956
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VituVingiSana		#5 Posted : Friday, March 18, 2011 4:57:50 PM
Rank: Chief Joined: 1/3/2007 Posts: 18,218 Location: Nairobi		xxxxx wrote: VituVingiSana wrote: Kakuzi has provided for the full 109mn claimed by Del Monte. Thus the PBT/PAT would have been much higher had this provision not been taken.... VVS, I don't think the profit would have been any higher without the full provision. This is because the adjustment relates to 2007 and 2008 and therefore should only affect prior year retained earnings through a debit to retained earnings and a credit to provisions....(assuming the accounting is done correctly) This is as opposed to recognising the provision as a current year expense thus affecting current year profit or loss. I suppose the financial statements are not that bad any way. True but since the 'past' numbers were not adjusted, Kakuzi took the provision in the current year. Eventually, the adjustment will be taken [& should be adjusted for 2007 & 2008] but for now Kakuzi has taken the better option & been conservative. Greedy when others are fearful. Very fearful when others are greedy - *to paraphrase Warren Buffett*
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mwanahisa		#6 Posted : Friday, March 18, 2011 6:12:32 PM
Rank: Elder Joined: 6/2/2008 Posts: 1,438		VituVingiSana wrote: True but since the 'past' numbers were not adjusted, Kakuzi took the provision in the current year. Eventually, the adjustment will be taken [& should be adjusted for 2007 & 2008] but for now Kakuzi has taken the better option & been conservative. @VVS, Triple X(+2) is right. Thank God for some sharp Accountants in the house ! xxxxx, Why didn't you just stop at xxx for your username ? Kakuzi actually adjusted their 2009 retained earnings from the figure reported in their 2009 annual accounts of 1,660,587K to 1,584,272K. The difference is 76,315,000, which is roughly the after tax effect of the 109 million claim. So indeed 2010 profits have not been affected. It is interesting to note that Kakuzi's profits were actually dampened by the poor performance of their Fuerte Avocado crop. I expect that results from tea were pretty vibrant .
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The Merchant		#7 Posted : Thursday, March 24, 2011 4:41:22 PM
Rank: Veteran Joined: 5/24/2010 Posts: 846 Location: KENYA		Bought this thing high up in the clouds when I thought it would smash through the 100 level Im thinking of cutting my losses but decided to check with my wazua fraternity before I hit that sell button..... Someone out there help! Used to ride this bus with @guru, je bado yuko? She went MIA when the bear hit town.
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youcan'tstopusnow		#8 Posted : Thursday, March 24, 2011 7:24:24 PM
Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa		Yeah, where did that half Uganjan half Kenyan lass go to? GOD BLESS YOUR LIFE
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VituVingiSana		#9 Posted : Thursday, March 24, 2011 7:34:05 PM
Rank: Chief Joined: 1/3/2007 Posts: 18,218 Location: Nairobi		You guys are so feckless... Ati, scared so sell... My point is that if Tea does well [prices are high but production may suffer] & with a weak KES, the PAT could jump. Also the farms are worth loads more coz of the Tatu City project. This will take a few more years but Thika, Ruiru & Kiambu are much more closer to Nairobi with the new roads! For many people - myself included - I might move out there. Who wants/needs to go to town anymore? My bank has branches in the suburbs where I do business. Or I can change banks. There are ATMs, M-Pesa, etc! Greedy when others are fearful. Very fearful when others are greedy - *to paraphrase Warren Buffett*
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