It stinks. You maintain a constant profit margin regardless of costs of inputs. So how can margins be eroded even if international prices and/or exchange rates fluctuate? Just wondering - is it creative Accounting to dodge taxes? Are they trying to force the Govt's hand?

@sly... My interest with total over the years is dividend factor. Sh2.50 at buy prices of sub28 yet picks up to 35 toward mid may.. That doesn't change. My change of mind refers to what time to start getting in by spreading out.

..if it is not expressly prohibited in law.. DO IT!!!!

@ jammo.

do you manage others' funds? Hypothetically speaking,if i gave u 100K,how much k wud u make me in 12 months - less 10% for you - thru trading in the current bear mkt? whats ur average returns for every 100k during the bear?

@Hi-Lo

Siphon? Lol!

When buying shares,ask yourself,would you buy the whole company?

@sly... U hav my mail address.

..if it is not expressly prohibited in law.. DO IT!!!!

@ Jammo,i do know what a quotation mark means,point is that,i find you to be more informed on stock matters than majority of our SK members. That as it may,i believe it would be kind if you also stated that you do not agree with the reasons given by tatol in view of high prices of their products compared to the world trends/market.

wote

total KENYA is a distribution arm,at least this is what (some) share holders were lead to believe and thus no record profits when oil prices were crazy high and all international oil companies were reporting dizzing profits. As a distribution arm,all they do is add service charge and profit to the oil price.

so margins shouldn't change as prices drop.

ps. this is also a low volume traded share which delivered a steady divided,however if you review it historically,it never rises with the market,its owners are in it for the divided,they dont trade much. for the small investor (the under 500K bunch) this stock is a waste of time.