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Access Kenya report ploy
Surealligator
#1 Posted : Wednesday, August 18, 2010 12:14:03 PM
Rank: User

Joined: 6/27/2008
Posts: 709
Location: Velayat-e Faryab
Is the company trying to fool anyone by stating that Gross Margins went up by 68% in H1 of 2010 compared to 44% in H1 of 2009? This has been presented on the line right after the EPS where DPS should be. On a closer look, you note the company has been bleeding money buying items the never planned for. H1 2010 EPS is .15 compared to .37 for H1 2009.

Someone here sounds desperate.
Go overdrive in purchasing the goods when there's blood on the streets, expecially if the blood is your own
muganda
#2 Posted : Wednesday, August 18, 2010 12:22:55 PM
Rank: Elder

Joined: 9/15/2006
Posts: 3,907
Whoophh! @surealligator, you pull no punches smile

Just gone through the results though - tough - http://www.nse.co.ke/new...lf%20year%20results.pdf

As with life, too many explanations when things go wrong. OVer 50% reduction in profit before tax and long stories about Safaricom, (eeeh pardon me) sorry, Foreign Exchange Loss... Are they fuel hedging like the airline industry?

Notice decline in turnover - tough!

Wa_ithaka
#3 Posted : Wednesday, August 18, 2010 12:24:00 PM
Rank: Veteran

Joined: 1/7/2010
Posts: 1,279
Location: nbi
Thengio Ngai I sold my speculative shares at Ksh21.50+. The numbers are anything but happiness. Turnover down 20% and then the joy of joys, AK has taken on a foreign currency denominated loan which has increased finance cost by almost ksh40m. Why not just do a cheap bond locally?
http://www.nse.co.ke/new...nouncements&sid=1063
The Governor of Nyeri - 2017
bartum
#4 Posted : Wednesday, August 18, 2010 12:24:12 PM
Rank: Veteran

Joined: 8/11/2010
Posts: 1,011
Location: nairobi
my valuation of access is 13.50
cnn
#5 Posted : Wednesday, August 18, 2010 12:31:43 PM
Rank: Veteran

Joined: 6/17/2009
Posts: 1,627
And some people here still talk up this share.If you have Access cut your losses,flee and dont look back.I cant see them make it.
PKoli
#6 Posted : Wednesday, August 18, 2010 12:34:56 PM
Rank: Elder

Joined: 2/10/2007
Posts: 1,587
Surealligator wrote:
Is the company trying to fool anyone by stating that Gross Margins went up by 68% in H1 of 2010 compared to 44% in H1 of 2009? This has been presented on the line right after the EPS where DPS should be. On a closer look, you note the company has been bleeding money buying items the never planned for. H1 2010 EPS is .15 compared to .37 for H1 2009.

Someone here sounds desperate.


They should have presented the numbers without the commentary. I am not very impressed
anasazi
#7 Posted : Wednesday, August 18, 2010 12:39:33 PM
Rank: Veteran

Joined: 6/8/2007
Posts: 675
AK wanapelekwa mbio. Competition has really hit them hard, so it must really be squeeky bum time there.
Form is temporary, class is permanent
PKoli
#8 Posted : Wednesday, August 18, 2010 12:47:08 PM
Rank: Elder

Joined: 2/10/2007
Posts: 1,587
anasazi wrote:
AK wanapelekwa mbio. Competition has really hit them hard, so it must really be squeeky bum time there.


Best opportunity was when safcom was looking for small companies to buy. They must have raised their stakes so high that safcom shied off.
slykat
#9 Posted : Wednesday, August 18, 2010 12:50:45 PM
Rank: Member

Joined: 2/20/2007
Posts: 359
Surealligator wrote:
On a closer look, you note the company has been bleeding money buying items the never planned for.

Someone here sounds desperate.


Laughing out loudly Laughing out loudly It's called "taking advantage of special offers" Laughing out loudly Laughing out loudly . I thought it was wags who are given to impulsive shopping, kumbe Access pia! Laughing out loudly Laughing out loudly .I quit when it hit 16 after IPO and never looked at it again. Small listed outfits have a way of conveniently leaking funds...especially if they are family oriented...or have a few majority owners. and NSE wants to introduce a segment for them...dah!
VituVingiSana
#10 Posted : Wednesday, August 18, 2010 1:06:39 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,349
Location: Nairobi
I sold most of mine... I have very, very few... so I could not care... Safaricom is eating their lunch on data... Zuku is also quite aggressive tho poor quality...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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