BOC reduced its operating expenses by seven per cent to Sh507.4 million. This helped the firm to grow its net profit 22.2 per cent to Sh101.2 million despite sales dropping 2.7 per cent to Sh629.1 million.

“Profits before tax were up 28 per cent due to cost control efforts,” BOC said after the dip in sales.

How will oil and minerals affect BOC and Cables?

BOC has risen to 165 since this thread started. I am watching this firm with a keen eye. We have seen what happened at Carbacid with a huge jump after the Split & Bonus issue. Should we expect a similar split here?

1) 2013 will be better than 2012 especially after the elections are all done.
2) BOC states they expect a positive 2H. And with the cost cutting and business activity back to normal, then 2H can be much better than 1H.
3) Small float leads to scarcity of shares.
4) Long-term strategic shareholder with technical know-how & sales into the EAC region.
5) Shares in Carbacid - which after the recent rise - valued at 4x vs 2012. They could sell these at a hefty premium or the 'gain' shows up in the P&L
6) Limited competition

For a consistently profitable and conservative firm, what would be a fair PER for a firm of this nature?
I expect a EPS of Shs8 in 2H thus Shs13+ for the full year. It looks incredibly cheap compared to Carbacid.
Which other industrial firms would you compare BOC to?

Something is up here. I do not know what but I can feel it. Is it higher profits? [See prior post] Or is there is Carbacid like play?

170 split into 5 = 34/- which is a sweet spot to be in. It can trend towards 40-50 just like Carbacid has done.

They are sitting on a lot of cash, Kshs 720m as per their half year results. If not a split I think they are in the position to buyout something, I just haven't worked out what as yet.