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Could Safaricom issue a profit warning?
hisah
#41 Posted : Thursday, February 17, 2011 2:46:27 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
http://www.nation.co.ke/...0/-/kghwyi/-/index.html

To quote the PM
Quote:
“If Airtel can afford to bring their prices down, Safaricom can also afford it. The time has come for Safaricom to face competition,” the PM stated.


Quote:
“They (safcom) have been used to making billions and billions of shillings in profits for years because it pays its workers peanuts,” he stated.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
youcan'tstopusnow
#42 Posted : Thursday, February 17, 2011 3:46:44 PM
Rank: Chief

Joined: 3/24/2010
Posts: 6,779
Location: Black Africa
hisah wrote:
http://www.nation.co.ke/News/Phone+price+wars+healthy+says+Raila+/-/1056/1109030/-/kghwyi/-/index.html

To quote the PM
Quote:
“If Airtel can afford to bring their prices down, Safaricom can also afford it. The time has come for Safaricom to face competition,” the PM stated.


Quote:
“They (safcom) have been used to making billions and billions of shillings in profits for years because it pays its workers peanuts,” he stated.

Applause Applause Applause Applause Applause Applause Applause Applause Applause Applause
Finally, someone in Government with the nuts to speak out against the whining of safaricon. Heko PM.Applause Applause Applause Back to the drawing board for Shillingi and co. at safaricon
GOD BLESS YOUR LIFE
VituVingiSana
#43 Posted : Thursday, February 17, 2011 3:49:32 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,353
Location: Nairobi
I might not support all that Raila says but he is right... I prefer the firms fight it out in the marketplace!

Lakini, we know who really holds the power in GoK... baba jimmy...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
hisah
#44 Posted : Thursday, February 17, 2011 6:00:16 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
The only question is, if safcom reports the same revenues or more (likely), will airtel continue with the price war or will mwananchi demand lower prices...? In the meantime since the share has been defensive since Sept, such a flat revenue performance or slightly above will see it rallying... Bizarro market....
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
bepari
#45 Posted : Thursday, February 17, 2011 8:22:16 PM
Rank: Member

Joined: 12/6/2009
Posts: 108
Location: nairobi
it seems that safcom has hired mercinaries to do its biding in the house.how do you explain that the mps were quizing Raila based on the same tired arguments that collymore uses. kilonzo,khalwale,mututho and eseli might aswell wear safcom t-shirts to the house. thank God for RAO he stood his ground,as far as outsourcing is concerned the are lucky we cant outsource that parliament to china.looking forward to PM's statement on wednesday.
if you aint livin on the edge,you are taking too much space....
bepari
#46 Posted : Thursday, February 17, 2011 8:27:13 PM
Rank: Member

Joined: 12/6/2009
Posts: 108
Location: nairobi
it seems that safcom has hired mercinaries to do its biding in the house.how do you explain that the mps were quizing Raila based on the same tired arguments that collymore uses. kilonzo,khalwale,mututho and eseli might aswell wear safcom t-shirts to the house. thank God for RAO he stood his ground,as far as outsourcing is concerned the are lucky we cant outsource that parliament to china.looking forward to PM's statement on wednesday.
if you aint livin on the edge,you are taking too much space....
VituVingiSana
#47 Posted : Thursday, February 17, 2011 9:51:57 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,353
Location: Nairobi
bepari wrote:
as far as outsourcing is concerned the are lucky we cant outsource that parliament to china.looking forward to PM's statement on wednesday.
I would outsource most MPigs to somali pirate waters. Where the sharks are...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
mukiha
#48 Posted : Friday, February 18, 2011 7:29:03 AM
Rank: Elder

Joined: 6/27/2008
Posts: 4,114
hisah wrote:


To quote the PM
Quote:
“If Airtel can afford to bring their prices down, Safaricom can also afford it. The time has come for Safaricom to face competition,” the PM stated.


Quote:
“They (safcom) have been used to making billions and billions of shillings in profits for years because it pays its workers peanuts,” he stated.

Populist nonsense!!

SCOM has been "facing the competition" since inception. Has the PM forgotten that SCOM was the third phone company in Kenya?

About paying workers peanuts: has anyone ever heard an SCOM employee complaining?

And on "making billions" would he prefer they made losses? What sort of profit does he think a company with 15 million customers and sh70b in net assets should be making?

The PM should keep his mouth shut on matters he doesn't understand!
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
Cde Monomotapa
#49 Posted : Friday, February 18, 2011 7:41:28 AM
Rank: Chief

Joined: 1/13/2011
Posts: 5,964
"..this is not a fish market, right!!" qoute Hon. Kimunya '07.
mukiha
#50 Posted : Friday, February 18, 2011 8:23:44 AM
Rank: Elder

Joined: 6/27/2008
Posts: 4,114
For the avoidance of doubt: the opinion expressed above is NOT for the support of government protection of SCOM. It is simply a counter to the PM,s sentiments.
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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