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Kenya Re FY 2012 Results

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FUNKY		#1 Posted : Wednesday, April 24, 2013 8:10:59 AM
Rank: Veteran Joined: 4/30/2010 Posts: 1,635		PAT Increased by 45 and a DPS of 0.40. No bonus issue.EPS of 4. Results on page 15 todays Daily Nation.
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guru267		#2 Posted : Wednesday, April 24, 2013 8:20:55 AM
Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi		Mixed bag of results... On the one hand you have EPS surprising positively and DPS/bonus surprising negatively! Imho Great for long term holders and BAD for short term traders! Im sure they are preserving profits for the new building instead of harrassing us with rights issues!! Mark 12:29 Deuteronomy 4:16
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mwanahisa		#3 Posted : Wednesday, April 24, 2013 8:52:01 AM
Rank: Elder Joined: 6/2/2008 Posts: 1,438		guru267 wrote: Mixed bag of results... On the one hand you have EPS surprising positively and DPS/bonus surprising negatively! Imho Great for long term holders and BAD for short term traders! Im sure they are preserving profits for the new building instead of harrassing us with rights issues!! @G267, When I saw your prediction of results on the KenyaRe thread, I actually thought you were being over-optimistic and I did not even expect them to hit your EPS projection. I must say I am positively surprised by the EPS growth and the EPS figure itself. I have not seen the actual results yet to discern the quality of the results but I hope that the huge increase in EPS is from growth in premium revenue and NOT so much from change in fair value of investment property and/or disposals of land/buildings.
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Metasploit		#4 Posted : Wednesday, April 24, 2013 8:58:13 AM
Rank: Veteran Joined: 3/26/2012 Posts: 985 Location: Dar es salaam,Tanzania		Growth premium writeen grew by 20% investment income grew by 87% claims grew by 38% Management expenses rose by 40% Total assets increased by 25% “The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails.”
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guru267		#5 Posted : Wednesday, April 24, 2013 9:00:42 AM
Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi		mwanahisa wrote: guru267 wrote: Mixed bag of results... On the one hand you have EPS surprising positively and DPS/bonus surprising negatively! Imho Great for long term holders and BAD for short term traders! Im sure they are preserving profits for the new building instead of harrassing us with rights issues!! @G267, When I saw your prediction of results on the KenyaRe thread, I actually thought you were being over-optimistic and I did not even expect them to hit your EPS projection. I must say I am positively surprised by the EPS growth and the EPS figure itself. I have not seen the actual results yet to discern the quality of the results but I hope that the huge increase in EPS is from growth in premium revenue and NOT so much from change in fair value of investment property and/or disposals of land/buildings. Kenya re has never recorded change in fair value of investments in its income statement! This means the NSE has absolutely no impact on Kenya re's EPS! Mark 12:29 Deuteronomy 4:16
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jerry		#6 Posted : Wednesday, April 24, 2013 9:05:34 AM
Rank: Elder Joined: 9/29/2006 Posts: 2,570		I think we need a policy on dvd. Low dividend avoids excrssive corporate tax though. Bonus would also do the trick. The opposite of courage is not cowardice, it's conformity.
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mwanahisa		#7 Posted : Wednesday, April 24, 2013 9:05:47 AM
Rank: Elder Joined: 6/2/2008 Posts: 1,438		My issue is with changes in valuation of investment properties and disposals, not on quoted equity (see my comments highlighted below). Basically, I would wish to confirm sustainability of the earnings model. guru267 wrote: mwanahisa wrote: guru267 wrote: Mixed bag of results... On the one hand you have EPS surprising positively and DPS/bonus surprising negatively! Imho Great for long term holders and BAD for short term traders! Im sure they are preserving profits for the new building instead of harrassing us with rights issues!! @G267, When I saw your prediction of results on the KenyaRe thread, I actually thought you were being over-optimistic and I did not even expect them to hit your EPS projection. I must say I am positively surprised by the EPS growth and the EPS figure itself. I have not seen the actual results yet to discern the quality of the results but I hope that the huge increase in EPS is from growth in premium revenue and NOT so much from change in fair value of investment property and/or disposals of land/buildings. Kenya re has never recorded change in fair value of investments in its income statement! This means the NSE has absolutely no impact on Kenya re's EPS!
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jerry		#8 Posted : Wednesday, April 24, 2013 9:15:17 AM
Rank: Elder Joined: 9/29/2006 Posts: 2,570		Metasploit wrote: Growth premium writeen grew by 20% investment income grew by 87% claims grew by 38% Management expenses rose by 40% Total assets increased by 25% Mgt expending 40% more ought to be more considerate to owners/shareholders of the company. The opposite of courage is not cowardice, it's conformity.
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Ericsson		#9 Posted : Wednesday, April 24, 2013 9:26:13 AM
Rank: Elder Joined: 12/4/2009 Posts: 10,810 Location: NAIROBI		Link: https://www.nse.co.ke/li...-re-financial-statements Wealth is built through a relatively simple equation Wealth=Income + Investments - Lifestyle
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Ericsson		#10 Posted : Wednesday, April 24, 2013 9:50:40 AM
Rank: Elder Joined: 12/4/2009 Posts: 10,810 Location: NAIROBI		Five year reduced tax at 20% has ended and beginning FY012 the company is being taxed at 30% Wealth is built through a relatively simple equation Wealth=Income + Investments - Lifestyle
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