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Britam HY 2013 profit before tax up 25%
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muganda
#1 Posted : Thursday, August 29, 2013 9:24:15 AM
Rank: Elder

Joined: 9/15/2006
Posts: 3,907
Total income up 38% (life +40%, general business +28%, asset management +68%)
Net Assets 49% increase



Is this company showing more potential than Centum? As it's my 3rd post, I must wonder where Herr mwekez@ji is hiding today smile
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Sufficiently Philanga....thropic
#2 Posted : Thursday, August 29, 2013 9:31:52 AM
Rank: Elder

Joined: 9/23/2010
Posts: 2,225
Location: Sundowner,Amboseli
Cheers @muganda. Not a bad show from Britam,guess now graduated from britanksmileDont worry about @mw€k€, he'll show up in no time to fill in the loose endssmile
@SufficientlyP
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Cde Monomotapa
#3 Posted : Thursday, August 29, 2013 9:37:55 AM
Rank: Chief

Joined: 1/13/2011
Posts: 5,964
Heshima. #Stunner
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Metasploit
#4 Posted : Thursday, August 29, 2013 9:40:24 AM
Rank: Veteran

Joined: 3/26/2012
Posts: 985
Location: Dar es salaam,Tanzania
Impressivesmile

“The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails.”
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mwekez@ji
#5 Posted : Thursday, August 29, 2013 11:40:03 AM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
Sufficiently Philanga....thropic wrote:
Cheers @muganda. Not a bad show from Britam,guess now graduated from britanksmileDont worry about @mw€k€, he'll show up in no time to fill in the loose endssmile


Cheers @muganda @$PT. Any idea how the significant gains in Equity and HFCK shares are accounted in the income statement?
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muganda
#6 Posted : Thursday, August 29, 2013 12:59:55 PM
Rank: Elder

Joined: 9/15/2006
Posts: 3,907
mwekez@ji wrote:
Cheers @muganda @$PT. Any idea how the significant gains in Equity and HFCK shares are accounted in the income statement?


My guess https://www.nse.co.ke/listed-com...britam-half-year-results

1) If they are associates (HFCK) it would be Share of profit of the associate


2) But in some other case (Equity) probably as net fair value gains on financial assets at fair value through profit and loss

Unless of course they classified them as for-sale financial assets then they would push them to comprehensive income statement

3) Gains on available-for-sale financial assets, as is customary for trading positions
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mwekez@ji
#7 Posted : Thursday, August 29, 2013 1:23:58 PM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
muganda wrote:
mwekez@ji wrote:
Cheers @muganda @$PT. Any idea how the significant gains in Equity and HFCK shares are accounted in the income statement?


My guess https://www.nse.co.ke/listed-com...britam-half-year-results

1) If they are associates (HFCK) it would be Share of profit of the associate


2) But in some other case (Equity) probably as net fair value gains on financial assets at fair value through profit and loss

Unless of course they classified them as for-sale financial assets then they would push them to comprehensive income statement

3) Gains on available-for-sale financial assets, as is customary for trading positions


Thanks @muganda. Am concerned because what has made this results to impress is the spike in Fair Value Through Profit and Loss of a whopping KES 1.5B. This is a paper gain which if it’s not realizable, there is nothing to cerebrate here
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the deal
#8 Posted : Thursday, August 29, 2013 4:05:58 PM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
Is there a difference between what Britam reported and what someone projected here back in May http://www.contrarianinv...is-the-race-to-diversify
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muganda
#9 Posted : Thursday, August 29, 2013 8:41:47 PM
Rank: Elder

Joined: 9/15/2006
Posts: 3,907
A little more propaganda, the presentation at the investor briefing was dropboxed http://bit.ly/17osWE1
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mwekez@ji
#10 Posted : Thursday, August 29, 2013 10:40:55 PM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
muganda wrote:
A little more propaganda, the presentation at the investor briefing was dropboxed http://bit.ly/17osWE1


Notable that Britam has HFCK and Equity Bank as its banking division in the company structure
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  | | Edit by user: Friday, August 30, 2013 11:50 AM | Reason: Not specified
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