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the deal
#11 Posted : Monday, May 09, 2011 6:01:40 PM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
Diamond Trust Bank 1Q 2011 Earnings Analysis
Kenya's Diamond Trust Bank said on Monday pretax profit for the three
months ended March rose 64 percent to 879.51 million Kenya shillings.
Its net interest income rose to 1.36 billion shillings from 1.04
billion shillings in the same period in 2010, the bank said in its
unaudited financial statement.The bank, which also operates in
Burundi, Tanzania and Uganda, said total assets rose 23 percent to
88.5 billion shillings, while its basic earnings per share jumped to
3.19 shillings from 2.00 shillings.

Commentary

Strong results from DTB, the local banks have really laid the foundation during the 1Q of 2011, it remains to be seen if their foreign counterparts will be able to reciprocate this kind of performance, EPS now at Ksh 3.19 in 1Q 2011 that gives a forward EPS of 12.76 if they maintain this kind of growth momentum through out the year from that we can derive the forward PE for full year 2011 as 11.28 based on today's closing price of Ksh 144, which is a fair price to me.

Entire article here http://contrarianinvesti...nk-1q-2011-earnings.html
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  | | Edit by user: Monday, May 09, 2011 8:42 PM | Reason: Not specified
ngapat
#12 Posted : Monday, May 09, 2011 6:56:41 PM
Rank: Veteran

Joined: 12/11/2006
Posts: 930
Where are the experts who said banks wont make you money in 2011.
“Invest in yourself. Your career is the engine of your wealth.”
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VituVingiSana
#13 Posted : Monday, May 09, 2011 7:04:55 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,356
Location: Nairobi
ngapat wrote:
Where are the experts who said banks wont make you money in 2011.
Were they talking about PROFITS or Share Prices?

e.g. firms I like & invested real money in have increased profits but not share prices!!!
e.g.
KenolKobil - Higher profits announced & 1H 2011 is tough but PAT expects to grow. Share price? 9.40...!!!

KQ - I expect higher 2010-11 PAT announcement BUT price is anemic [also 2011 will be tougher]

Unga - Higher 1H 2010-11 PAT but price is 9.50 [hasn't risen]

And so on... The market is 'cheap' for many stocks i.e. profits are good but people are worried about high oil prices, inflation, 2012, etc!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Aguytrying
#14 Posted : Monday, May 09, 2011 8:15:24 PM
Rank: Elder

Joined: 7/11/2010
Posts: 5,040
The results are indeed impressive. Unreadable from nse's pdf. Though i managed to note that other income of Q1 2011 is marginally higher than that of 2010 Q1, meaning the time the huge gains were made last year, is yet to start "reflecting" in this FY.
The investor's chief problem - and even his worst enemy - is likely to be himself
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Aguytrying
#15 Posted : Monday, May 09, 2011 8:19:40 PM
Rank: Elder

Joined: 7/11/2010
Posts: 5,040
[quote=the deal]Diamond Trust Bank 1Q 2011 Earnings Analysis

Kenya's Diamond Trust Bank said on Monday pretax profit for the three
months ended March rose 64 percent to 879.51 million Kenya shillings.
Its net interest income rose to 1.36 billion shillings from 1.04
billion shillings in the same period in 2010, the bank said in its
unaudited financial statement.The bank, which also operates in
Burundi, Tanzania and Uganda, said total assets rose 23 percent to
88.5 billion shillings, while its basic earnings per share jumped to
3.19 shillings from 2.00 shillings.

Commentary

Strong results from DTB, the local banks have really laid the foundation during the 1Q of 2011, it remains to be seen if their foreign counterparts will be able to reciprocate this kind of performance, EPS now at Ksh 3.19 in 1Q 2011 that gives a forward EPS of 12.76 if they maintain this kind of growth momentum through out the year from that we can derive an annualized PE of 11.28 at today's closing price of Ksh 144, which is a fair price to me.

Entire article here http://contrarianinvesti...k-1q-2011-earnings.html[/quote]

Please explain to me how you have derived annualised PE of 11.28. and while at it(or you could always tell me to bounce to investopedia, but really), what is the diff btn basic and diluted eps?
The investor's chief problem - and even his worst enemy - is likely to be himself
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the deal
#16 Posted : Monday, May 09, 2011 8:48:19 PM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
Aguytrying wrote:
[quote=the deal]
Diamond Trust Bank 1Q 2011 Earnings Analysis
Kenya's Diamond Trust Bank said on Monday pretax profit for the three
months ended March rose 64 percent to 879.51 million Kenya shillings.
Its net interest income rose to 1.36 billion shillings from 1.04
billion shillings in the same period in 2010, the bank said in its
unaudited financial statement.The bank, which also operates in
Burundi, Tanzania and Uganda, said total assets rose 23 percent to
88.5 billion shillings, while its basic earnings per share jumped to
3.19 shillings from 2.00 shillings.

Commentary

Strong results from DTB, the local banks have really laid the foundation during the 1Q of 2011, it remains to be seen if their foreign counterparts will be able to reciprocate this kind of performance, EPS now at Ksh 3.19 in 1Q 2011 that gives a forward EPS of 12.76 if they maintain this kind of growth momentum through out the year from that we can derive the forward PE for full year 2011 as 11.28 based on today's closing price of Ksh 144, which is a fair price to me.

Please explain to me how you have derived annualised PE of 11.28. and while at it(or you could always tell me to bounce to investopedia, but really), what is the diff btn basic and diluted eps?


@Aguy there was a typo..sorry..it has been rectified..well FY EPS of 12.76 is an estimate(3.19x4=12.76)..diluted EPS includes other shares i.e ESOPS...etc...always use diluted EPS...this might help http://stocks.about.com/...luatingstocks/a/eps1.htm
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Aguytrying
#17 Posted : Monday, May 09, 2011 9:10:17 PM
Rank: Elder

Joined: 7/11/2010
Posts: 5,040
the deal wrote:
[quote=Aguytrying][quote=the deal]
Diamond Trust Bank 1Q 2011 Earnings Analysis
Kenya's Diamond Trust Bank said on Monday pretax profit for the three
months ended March rose 64 percent to 879.51 million Kenya shillings.
Its net interest income rose to 1.36 billion shillings from 1.04
billion shillings in the same period in 2010, the bank said in its
unaudited financial statement.The bank, which also operates in
Burundi, Tanzania and Uganda, said total assets rose 23 percent to
88.5 billion shillings, while its basic earnings per share jumped to
3.19 shillings from 2.00 shillings.

Commentary

Strong results from DTB, the local banks have really laid the foundation during the 1Q of 2011, it remains to be seen if their foreign counterparts will be able to reciprocate this kind of performance, EPS now at Ksh 3.19 in 1Q 2011 that gives a forward EPS of 12.76 if they maintain this kind of growth momentum through out the year from that we can derive the forward PE for full year 2011 as 11.28 based on today's closing price of Ksh 144, which is a fair price to me.

Please explain to me how you have derived annualised PE of 11.28. and while at it(or you could always tell me to bounce to investopedia, but really), what is the diff btn basic and diluted eps?


@Aguy there was a typo..sorry..it has been rectified..well FY EPS of 12.76 is an estimate(3.19x4=12.76)..diluted EPS includes other shares i.e ESOPS...etc...always use diluted EPS...this might help http://stocks.about.com/...uatingstocks/a/eps1.htm[/quote]

I dint mean the spelling actually, i naturally knew you meant forward p.e. but really how did you come up with forward pe of 11.28. If you divided 144 by 12.76 that would be inaccurate, would be better to use last years eps of 11. I say this coz the annualised p.e of 12.76 is already causing price movement, while the share was at 144 riding on last years diluted eps of 11.

Its also a bit complicated because we dont know what it would be trading at was it not cum div.
regards.
The investor's chief problem - and even his worst enemy - is likely to be himself
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  | | Edit by user: Monday, May 09, 2011 9:14 PM | Reason: t
erifloss
#18 Posted : Monday, May 09, 2011 9:17:07 PM
Rank: Member

Joined: 6/21/2010
Posts: 514
Location: Nairobi
ngapat wrote:
Where are the experts who said banks wont make you money in 2011.

Q2 is where the truth will come out. Rise in inflation (double digit) & rise in interest rates came nearly at the end of Q1 & will be truly felt in Q2
'They say money cannot buy me happiness but when i compare when i had none and now, i'm happier' Kevin O'leary
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QW25071985
#19 Posted : Monday, May 09, 2011 9:23:57 PM
Rank: Veteran

Joined: 3/25/2011
Posts: 946
erifloss wrote:
ngapat wrote:
Where are the experts who said banks wont make you money in 2011.

Q2 is where the truth will come out. Rise in inflation (double digit) & rise in interest rates came nearly at the end of Q1 & will be truly felt in Q2


they are right here . Laughing out loudly loest

http://www.businessdaily...on/-/bxpy01/-/index.html
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Aguytrying
#20 Posted : Wednesday, May 11, 2011 8:27:06 PM
Rank: Elder

Joined: 7/11/2010
Posts: 5,040
Dear wazuans, On the fy yr results it says book closure for both the dividend and bonus shares is on 20th May, it further goes to say that the register will be closed for bonus shares from 20th to 27th May both days inclusive.

1) does it mean if i sell my shares btn 20-27 that i will not get my bonus shares?

2) How long does it normally take for bonus shares to be factored into cdsc accounts? estimate from experience. thanks
The investor's chief problem - and even his worst enemy - is likely to be himself
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  | | Edit by user: Thursday, May 12, 2011 6:43 AM | Reason: Not specified
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