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KQ 2008-9 Results
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VituVingiSana
#1 Posted : Friday, June 05, 2009 5:34:00 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,342
Location: Nairobi
Any news? I do not see anything on NSE website

Greedy when others are fearful,Very fearful when others are greedy - to paraphrase WB
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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McReggae
#2 Posted : Friday, June 05, 2009 5:49:00 AM
Rank: Elder

Joined: 6/17/2008
Posts: 23,365
Location: Nairobi
It's a loss unless some loses like hedging are manipulated in the books to reflect a marginal profit......results not positive at all!!!!!....I hear the Commercial director was sacked jana!!!!

The chief value of money lies in the fact that one lives in a world in which it is overestimated.
..."Wewe ni mtu mdogo sana....na mwenye amekuandika pia ni mtu mdogo sana!".
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Gordon Gekko
#3 Posted : Friday, June 05, 2009 6:16:00 AM
Rank: Elder

Joined: 5/27/2008
Posts: 3,760
@McR,isn't that material information that must be reported to the NSE?
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Tot
#4 Posted : Friday, June 05, 2009 6:23:00 AM
Rank: Member

Joined: 3/18/2009
Posts: 15
the MD is to release the results this morning.....profitability is about 1 Billion
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McReggae
#5 Posted : Friday, June 05, 2009 6:25:00 AM
Rank: Elder

Joined: 6/17/2008
Posts: 23,365
Location: Nairobi
GG,

The results should be out some time today wacha tungoje.....despite the overall hit on the aviation industry,things are not working well for our national carrier........how can you employ a commecrial director and barely after a year you sack him........that is one department that requires continuity as far as the business growth of KQ is concerned!!!!



The chief value of money lies in the fact that one lives in a world in which it is overestimated.
..."Wewe ni mtu mdogo sana....na mwenye amekuandika pia ni mtu mdogo sana!".
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Goals
#6 Posted : Friday, June 05, 2009 6:25:00 AM
Rank: Member

Joined: 10/6/2008
Posts: 118
nse has already sent the info this morning.

'men will have to give account on the day of judgment for every careless word they have spoken' (Mat 12:36).
'set a guard over my mouth and keep watch over the door of my lips' (Ps 141:3).
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VituVingiSana
#7 Posted : Friday, June 05, 2009 6:33:00 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,342
Location: Nairobi
The operating profit was barely below last year but the huge hit was from the unrealized fuel hedging loss that used to be calculated/accounted for in the balance sheet under hedge reserves.


Greedy when others are fearful,Very fearful when others are greedy - to paraphrase WB
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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McReggae
#8 Posted : Friday, June 05, 2009 6:41:00 AM
Rank: Elder

Joined: 6/17/2008
Posts: 23,365
Location: Nairobi
VVS,

Remember the 1st half results had a PAT of about Kshs. 0.74B,the management promised better results for the 2nd half and no new hedges were entered into during the 2nd half........what exactly happenned coz the expected results would be PAT of more that Kshs. 1.5B!!!!

Note: 1st half operating profit was Kshs. 1.6B compared to Kshs. 3.4B for the previous year!!!

The chief value of money lies in the fact that one lives in a world in which it is overestimated.
..."Wewe ni mtu mdogo sana....na mwenye amekuandika pia ni mtu mdogo sana!".
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kizee
#9 Posted : Friday, June 05, 2009 6:50:00 AM
Rank: Member

Joined: 1/9/2008
Posts: 537
so kq are basically saying the hedge cost them +12 yards kes? i really wonder....kwani what was the notional amount on this hedges? and why couldnt kq sell teh futures as crude lost ground....this issue is more funny than sad really....gues its very dangerous to hire a finance director based on CPA's alone
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McReggae
#10 Posted : Friday, June 05, 2009 6:57:00 AM
Rank: Elder

Joined: 6/17/2008
Posts: 23,365
Location: Nairobi
Talking of the hedges,are we saying that if the price of crude oil had remained high and the hedges were financially ok then kq were going to make an automatic loss!!!!

The chief value of money lies in the fact that one lives in a world in which it is overestimated.
..."Wewe ni mtu mdogo sana....na mwenye amekuandika pia ni mtu mdogo sana!".
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KulaRaha
#11 Posted : Friday, June 05, 2009 7:03:00 AM
Rank: Elder

Joined: 7/26/2007
Posts: 6,514
When I reported here they have fuel hedges based on $120 per barrel,going out as far as 3 years,someone mentioned I was dreaming.

Obviously,the proof is in the pudding.




Business opportunities are like buses,there's always another one coming
Business opportunities are like buses,there's always another one coming
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Hi-Lo
#12 Posted : Friday, June 05, 2009 7:09:00 AM
Rank: Member

Joined: 10/5/2007
Posts: 91
..the Finance Director needs to be investigated...he could be on the other side of the hedge...

Playing the stock market without insider info...is like buying a cow in the moonlight.
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KulaRaha
#13 Posted : Friday, June 05, 2009 7:13:00 AM
Rank: Elder

Joined: 7/26/2007
Posts: 6,514
I suspect you will find a multi-national bank on the other side...reporting nice profits!

Business opportunities are like buses,there's always another one coming
Business opportunities are like buses,there's always another one coming
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McReggae
#14 Posted : Friday, June 05, 2009 7:15:00 AM
Rank: Elder

Joined: 6/17/2008
Posts: 23,365
Location: Nairobi
The hedges may have become a perfect excuse!!!....if you consider 1st half results we had Kshs1.26B as fuel hedge reserve in 2008/2009 compared to Kshs 2.79B reserve for 2007/2008 reflecting a reduction in the cost of hedging!!!!



The chief value of money lies in the fact that one lives in a world in which it is overestimated.
..."Wewe ni mtu mdogo sana....na mwenye amekuandika pia ni mtu mdogo sana!".
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kizee
#15 Posted : Friday, June 05, 2009 7:24:00 AM
Rank: Member

Joined: 1/9/2008
Posts: 537
multi-national-read standard chartered....but they didnt make 12 billion in income from the hedge...kq just do not have the knowledge of how these prodcuts work
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