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NEVEREADY will soar in Njaanuary
Rank: Elder Joined: 1/8/2018 Posts: 2,212 Location: DC (Dustbowl County)
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Ericsson wrote:
Profit boosted by sale of assets
Turns out you were right  I'm still buying!  Courtesy of Pesa Nane ^^
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Angelica _ann wrote:Where are the full financial statements? Results - http://www.rich.co.ke/rcdata/company.php?i=NTI%3D
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Elder Joined: 1/8/2018 Posts: 2,212 Location: DC (Dustbowl County)
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I love the fact that their finance costs dropped dramatically from 72m to a manageable 9.7 (note 9) thanks to the land sale proceeds. They really need to work on lowering their administrative costs though.
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Rank: Elder Joined: 12/7/2012 Posts: 11,935
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MugundaMan wrote:I love the fact that their finance costs dropped dramatically from 72m to a manageable 9.7 (note 9) thanks to the land sale proceeds. They really need to work on lowering their administrative costs though. My fren, hapa you will burn to recognition. Run while you can In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Elder Joined: 1/8/2018 Posts: 2,212 Location: DC (Dustbowl County)
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Managed to get a hard copy of today's paper with the results; Balance sheet items of interest; Retained earnings:2016: (388,343,000) kshs 2017: 325,903,000 kshs Cash at bank and in hand:2016: 3,744,000 kshs 2017: a whopping 245,827,000 kshs  Cash Flow statement item(s) of interest:Receipt of borrowings: 2016: 383,558,000 kshs  Repayment of all borrowings; 2017: (433,969,000 kshs) Not bad.
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Rank: Elder Joined: 1/8/2018 Posts: 2,212 Location: DC (Dustbowl County)
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Angelica _ann wrote:MugundaMan wrote:I love the fact that their finance costs dropped dramatically from 72m to a manageable 9.7 (note 9) thanks to the land sale proceeds. They really need to work on lowering their administrative costs though. My fren, hapa you will burn to recognition. Run while you can With a post-dividend cost basis of under kshs 1 per share, do I look like I am in a hurry to run anywhere any time soon? Talk to me in ten years!
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Rank: Veteran Joined: 8/30/2007 Posts: 1,558 Location: Nairobi
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MugundaMan wrote:Angelica _ann wrote:MugundaMan wrote:I love the fact that their finance costs dropped dramatically from 72m to a manageable 9.7 (note 9) thanks to the land sale proceeds. They really need to work on lowering their administrative costs though. My fren, hapa you will burn to recognition. Run while you can With a post-dividend cost basis of under kshs 1 per share, do I look like I am in a hurry to run anywhere any time soon? Talk to me in ten years! Mugundaman i truly wish you well but I would like to pose a few questions for you: 1. Do you know why Eveready were habitually posting losses YoY? 2. They propped up their profits by asset disposal (or asset stripping in so circles), how many assets do they have to keep bumping up their profits every year? Because clearly this was not a profit based on regular course of business 3. Do their products stand out? Have you ever even heard of everclean?
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Rank: Elder Joined: 1/8/2018 Posts: 2,212 Location: DC (Dustbowl County)
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Horton wrote:
Mugundaman i truly wish you well but I would like to pose a few questions for you:
1. Do you know why Eveready were habitually posting losses YoY?
2. They propped up their profits by asset disposal (or asset stripping in so circles), how many assets do they have to keep bumping up their profits every year? Because clearly this was not a profit based on regular course of business
3. Do their products stand out? Have you ever even heard of everclean?
Horton, you are missing the point completely, brother. The woes of EVRD are well known. The question is, is this a turnaround situation? I.e. have they tweaked their business model to make drastic changes compared to what they were doing the prior ten years? The answer is a resounding YES. They have (at long last) stabilized their balance sheet. They have also dropped the suicide deal with Energizer Intl (three cheers..hip hip hooray!) that made them prisoners of pricing controls and product strategies set in New York! Oh yes, I am very very familiar with TURBO batteries. They are safely nestled everywhere including in my TV remote, powering kila kitu nywee. Super long lasting and very reliable. Clorox (very high quality brand compared to Jik which destroys clothes) is also relaxing in the laundry room as we speak. Works very well and leaves a nice scent on whites. Everclear needs time, brother..it's a new brand. It will pick up in due course. Now shareholders need to light a fire under management's bee-hinds to reduce those administrative costs and this company will be back on a roll.
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Rank: Veteran Joined: 8/30/2007 Posts: 1,558 Location: Nairobi
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MugundaMan wrote:Horton wrote:
Mugundaman i truly wish you well but I would like to pose a few questions for you:
1. Do you know why Eveready were habitually posting losses YoY?
2. They propped up their profits by asset disposal (or asset stripping in so circles), how many assets do they have to keep bumping up their profits every year? Because clearly this was not a profit based on regular course of business
3. Do their products stand out? Have you ever even heard of everclean?
Horton, you are missing the point completely, brother. The woes of EVRD are well known. The question is, is this a turnaround situation? I.e. have they tweaked their business model to make drastic changes compared to what they were doing the prior ten years? The answer is a resounding YES. They have (at long last) stabilized their balance sheet. They have also dropped the suicide deal with Energizer Intl (three cheers..hip hip hooray!) that made them prisoners of pricing controls and product strategies set in New York! Oh yes, I am very very familiar with TURBO batteries. They are safely nestled everywhere including in my TV remote, powering kila kitu nywee. Super long lasting and very reliable. Clorox (very high quality brand compared to Jik which destroys clothes) is also relaxing in the laundry room as we speak. Works very well and leaves a nice scent on whites. Everclear needs time, brother..it's a new brand. It will pick up in due course. Now shareholders need to light a fire under management's bee-hinds to reduce those administrative costs and this company will be back on a roll. So if you take out the gains on disposal of assets, they would be in a loss position. But good luck dude.
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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MugundaMan wrote:Horton wrote:
Mugundaman i truly wish you well but I would like to pose a few questions for you:
1. Do you know why Eveready were habitually posting losses YoY?
2. They propped up their profits by asset disposal (or asset stripping in so circles), how many assets do they have to keep bumping up their profits every year? Because clearly this was not a profit based on regular course of business
3. Do their products stand out? Have you ever even heard of everclean?
Horton, you are missing the point completely, brother. The woes of EVRD are well known. The question is, is this a turnaround situation? I.e. have they tweaked their business model to make drastic changes compared to what they were doing the prior ten years? The answer is a resounding YES. They have (at long last) stabilized their balance sheet. They have also dropped the suicide deal with Energizer Intl (three cheers..hip hip hooray!) that made them prisoners of pricing controls and product strategies set in New York! Oh yes, I am very very familiar with TURBO batteries. They are safely nestled everywhere including in my TV remote, powering kila kitu nywee. Super long lasting and very reliable. Clorox (very high quality brand compared to Jik which destroys clothes) is also relaxing in the laundry room as we speak. Works very well and leaves a nice scent on whites. Everclear needs time, brother..it's a new brand. It will pick up in due course. Now shareholders need to light a fire under management's bee-hinds to reduce those administrative costs and this company will be back on a roll. Eveready has no business to speak of. Their dry cell manufacturing business is now obsolete. For now they are just a general distributorship company and doing very badly at it; 1. Paltry sales of 300m per annum. There are hundreds if not thousands of private businesses doing turnover of 300m and above. 2. Razor thin gross margins of 25% far cry from the 40%-70% gross margins enjoyed by manufacturers. 3. Huge overheads in the region of 300m per annum. Seriously who incurs overhead costs as much as the annual sales? If I was management, I would delist the company immediately to save on the compliance costs related to listing at nse; Sell all non-core assets; declare all staff redundant then invest in a new line of business like logistics. Life is short. Live passionately.
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