Rank: Chief Joined: 5/31/2011 Posts: 5,121
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Poor set of FY12 results from Uchumi posting 30% decline in net profit to KES 273,977,000 from KES 390,425,000 in FY11
Were it not for change in value of investment properties amounting KES 250,000,000 and other incomes amounting KES 378,407,000, Uchumi would have made a loss.
Investment properties relate to two pieces of land held by Uchumi subsidiary, Kasarani Mall Limited, under long term lease arrangements. Only perimeter wall is erected on the 2 pieces of land.
Other income relate to promotions income, profit on disposal of property plant and equipment, specialty shop income, decrease in allowance for credit losses, etc
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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mwekez@ji wrote:Poor set of results from Uchumi.
Were it not for change in value of investment properties amounting KES 250,000,000 and other incomes amounting KES 378,407,000, Uchumi would have made a loss.
Investment properties relate to two pieces of land held by the Uchumi subsidiary, Kasarani Mall Limited, under long term lease arrangements. Only a perimeter wall has been erected on the 2 pieces of land.
Other income relate to promotions income, profit on disposal of property plant and equipment, specialty shop income, decrease in allowance for credit losses, etc
let's see the reaction from the market. plunge plunge plunge! Life is short. Live passionately.
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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EPS; 1.03
Dividend; 0.30
NBV; 10.01
At yesterday VWAP of KES 19.90
P/B; 1.99
P/E; 19.32
Dividend Yield; 1.51%
Dividend drought has ended in a year when accumulated losses stand at KES 392,653,000. I remember NBK cleared all accumulated losses before ending its dividend drought
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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mlennyma wrote:Recomendation...over valued.sell,sell
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Rank: Member Joined: 3/20/2008 Posts: 503
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mwekez@ji wrote:mlennyma wrote:Recomendation...over valued.sell,sell Sawa, now we wait for the keke bad news....why do we never learn???
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Rank: Elder Joined: 7/11/2010 Posts: 5,040
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mwekez@ji wrote:EPS; 1.03
Dividend; 0.30
NBV; 10.01
At yesterday VWAP of KES 19.90
P/B; 1.99
P/E; 19.32
Dividend Yield; 1.51%
Dividend drought has ended in a year when accumulated losses stand at KES 392,653,000. I remember NBK cleared all accumulated losses before ending its dividend drought Grossly over-valued at the present market environment. I consider 6-8 bob a fair price. I knew the dividend was nothing to shout about, just the excitement of 'for the first time in x years' make the market lose its head. The investor's chief problem - and even his worst enemy - is likely to be himself
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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BD grossly mis-reported on Uchumi. Very disappointed (again).
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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@Cde, tru dat. yesternight BD article sucks! Here is their cover up article: The firm declared a dividend of Sh0.30 a piece, the first in 10 years, which was above analysts’ expectations of the retail chain paying dividends next year at the earliest. link
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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Uchumi picks ex-Telkom executive (Khadija Mire) as board chairman The Capital Markets Authority (CMA) in April last year gave Uchumi four months to appoint an independent chairman to boost its corporate governance, which had been blamed for its near collapse in mid-2006.http://www.businessdailyafrica....14/-/8wbg09/-/index.html
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Rank: Elder Joined: 7/21/2010 Posts: 6,184 Location: nairobi
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Uchumi pulls down the nse breaking the gaining trend....this was a sub headline in reuters "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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Very poor results from Uchumi. The expansion is not going well, although its early days to me an effective conclusion, there are warning signs, its rather draining the company's resources.
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Rank: Elder Joined: 7/21/2010 Posts: 6,184 Location: nairobi
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My feeling is that a company needs financial reserves to start expanding in the region...uchumi is still searching for a partner doubting its stability. "Don't let the fear of losing be greater than the excitement of winning."
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