We have got the the 10 billion Loss before tax that I predicted. It has actually come in at 10.8 Billion, no doubt t
he biggest loss ever by a listed firm in Eastern Africa.Now, let's see whether the 2nd part of my prediction of a share price of 6-7 shillings will come to pass within the next 12 months.
It's instructive that in an unprecedented gesture, the full year statement includes an extract of the Auditors Report. The opinion of the auditors has some curious and interesting wording about the summary statements conforming in all material respects to the
group financial statements. I did not see the words
"true and fair"mwanahisa wrote:KQ issued a profit warning on 5th November 2012.
The results will be dire. There is no way that the H1 PBT loss of 6.59 Billion can translate into anything other than a bigger loss.
I used to be a KQ enthusiast but bailed out when it became clear that Mgt were hellbent on destroying shareholder value with an ill conceived expansion plan that continues to this day.
If we hit a possible 10 billion shillings PBT loss on Friday, this share could well hit the Kshs 6-7 lows that it used to trade at around the turn of the millenium. Maybe just maybe there will be long term value then. At any rate, below 10/=, it will start to attract speculative day trades but at the moment, its outlook remains real bleak!!!