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Uchumi HY 2015 results - firmly in loss territory
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muganda
#1 Posted : Saturday, February 21, 2015 9:26:24 AM
Rank: Elder

Joined: 9/15/2006
Posts: 3,907


When is this denizen of oold issuing a full year profit warning? Culprit in the numbers appears to be disproportionate increase in Cost of Goods Sold and iny opinion, overdue management overhaul.
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mwekez@ji
#2 Posted : Saturday, February 21, 2015 10:27:19 AM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
Uchumi following the footsteps of KQ

Jonathan Ciano following the footsteps of Titus Naikuni.

#SAD
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mwekez@ji
#3 Posted : Saturday, February 21, 2015 10:38:15 AM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
This half year loss has eroded 30% of the recent rights issue funds
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kryptonite
#4 Posted : Saturday, February 21, 2015 10:46:11 AM
Rank: Member

Joined: 2/1/2010
Posts: 272
Location: Nairobi
Ciano should have quit at the top.
The harder you work, the luckier you get
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Gordon Gekko
#5 Posted : Saturday, February 21, 2015 11:33:22 AM
Rank: Elder

Joined: 5/27/2008
Posts: 3,760
mwekez@ji wrote:
This half year loss has eroded 30% of the recent rights issue funds

Now hopefully I can defend my position by taking up the rights I forfeited, at sub-rights price and pray that a takeover partner comes along.
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mkonomtupu
#6 Posted : Saturday, February 21, 2015 11:56:32 AM
Rank: Veteran

Joined: 2/10/2010
Posts: 1,001
Location: River Road
yawn! i had to go buy a newspaper to look at the balance sheet and commentary to get the full picture. Back to watching my black and white movies
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Aguytrying
#7 Posted : Saturday, February 21, 2015 2:08:43 PM
Rank: Elder

Joined: 7/11/2010
Posts: 5,040
mwekez@ji wrote:
This half year loss has eroded 30% of the recent rights issue funds


My stand in these entities Is well known. and they keep proving me right. in the trading period reported. inflation was low, so more disposable income. interest rates lower than previously. so why are they making losses???
The investor's chief problem - and even his worst enemy - is likely to be himself
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  | | Edit by user: Saturday, February 21, 2015 2:11 PM | Reason: Not specified
dunkang
#8 Posted : Saturday, February 21, 2015 3:40:06 PM
Rank: Elder

Joined: 6/2/2011
Posts: 4,824
Location: -1.2107, 36.8831
Aguytrying wrote:
mwekez@ji wrote:
This half year loss has eroded 30% of the recent rights issue funds


My stand in these entities Is well known. and they keep proving me right. in the trading period reported. inflation was low, so more disposable income. interest rates lower than previously. so why are they making losses???

The Uchumi Shop at the west-end of Loita Street tells it all. The staff service delivery is uchumi-sh, shelves are missing most fast moving goods, etc, etc.
Receive with simplicity everything that happens to you.” ― Rashi

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Golden_Arrow
#9 Posted : Saturday, February 21, 2015 6:32:41 PM
Rank: Hello

Joined: 2/10/2015
Posts: 8
Location: Nairobi
COMPARISON
uchumi
H1 results 6 months through 31st Dec 2013
Netsales: 7.286101 B
Cost of sales: 5.834776 B
Gross profit: 1.744853 B
Other Income: 293.529m
Total Income: 1.744853 B
PBT: 106.929m
EPS: 0.40
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bazuka
#10 Posted : Saturday, February 21, 2015 10:48:31 PM
Rank: New-farer

Joined: 1/26/2014
Posts: 14
dunkang wrote:
Aguytrying wrote:
mwekez@ji wrote:
This half year loss has eroded 30% of the recent rights issue funds


My stand in these entities Is well known. and they keep proving me right. in the trading period reported. inflation was low, so more disposable income. interest rates lower than previously. so why are they making losses???

The Uchumi Shop at the west-end of Loita Street tells it all. The staff service delivery is uchumi-sh, shelves are missing most fast moving goods, etc, etc.


Not surprised as well. Gave up on Uchumi after seeing rats on Ngong road near the fridge. The area around the fridge was also stinking. The supermarket also lacks basic stuff found in other supermarkets. One guy working there told me "suppliers hawajalipwa" when I asked him why they didnt have basic stuff one day. The last nail on the coffin was when I bought milk before it had expired only to get home and it looked like Mala probably it wasnt stored in the fridge in good time.
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