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Centum Full Year results 2017/2018
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littledove
#1 Posted : Wednesday, June 13, 2018 9:18:46 AM
Rank: Veteran

Joined: 7/1/2014
Posts: 927
Location: sky
highlights
-Despite the challenging environment; @Centum_Inv has recorded positive cash flows with KES 4.3Billion from it's own operations.
-Dividend maintained at KES 1.20 per share, despite drop in PAT
-Decline in profitability is attributed to lower realized gains as recognition of GenAfrica disposal gains was deferred to FY 2019. Had the gains been booked, the company would have recorded 42% profit increase.
-total company assets increased by 7% to KES 66 Billion
-NAV of Centum shares at KES 73.20
There are only two emotions in the stock market, fear and hope. The problem is, you hope when you should fear and fear when you should hope
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  | | Edit by moderator: Wednesday, June 13, 2018 12:39 PM | Reason: title case
Ericsson
#2 Posted : Wednesday, June 13, 2018 9:21:35 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
Full year pretax profit drops by 64 pc, says Kenya's Centum Investment

Centum said in a statement its pretax profit dropped to 3.15 billion shillings ($31.16 million) from 8.74 billion shillings a year earlier.

It said the drop in profits was also attributed to a 2.3 billion shilling or 35 percent drop year-on-year of its fair value gain on its investment properties.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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sparkly
#3 Posted : Wednesday, June 13, 2018 9:29:11 AM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
Ericsson wrote:
Full year pretax profit drops by 64 pc, says Kenya's Centum Investment

Centum said in a statement its pretax profit dropped to 3.15 billion shillings ($31.16 million) from 8.74 billion shillings a year earlier.

It said the drop in profits was also attributed to a 2.3 billion shilling or 35 percent drop year-on-year of its fair value gain on its investment properties.


Waiting for @Obiero to rubbish these poor results smile
Life is short. Live passionately.
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madebe
#4 Posted : Wednesday, June 13, 2018 10:10:34 AM
Rank: Member

Joined: 10/7/2010
Posts: 251
Location: nairobi
anybody with the full presentation asambaze...
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muganda
#5 Posted : Wednesday, June 13, 2018 12:45:32 PM
Rank: Elder

Joined: 9/15/2006
Posts: 3,907
madebe wrote:
anybody with the full presentation asambaze...

Sure feels like everything went down (apart from their quoted NAV) https://www.nse.co.ke/li...r-ended-31st-march-2018

costs up
trading profit down
income from financial services down
share of associates profit down
profit before tax down
earnings per share down
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Ericsson
#6 Posted : Wednesday, June 13, 2018 12:49:47 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
Borrowings too went up from ksh.20.9bn to 24.4bn

For more results and analysis
http://www.centum.co.ke/...Audited_Results_FY18.pdf
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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  | | Edit by user: Wednesday, June 13, 2018 1:01 PM | Reason: Not specified
VituVingiSana
#7 Posted : Wednesday, June 13, 2018 1:01:24 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
What I heard but I need to re-watch the presentation
- GenAfrica sale will be completed in 1H so cash will reduce debt
- Sales of properties ongoing at Pearl, Two Rivers and Rea but this will take some time
- Debt:Equity has reduced y-o-y
- There’s are more “value uplifts” coming as businesses mature
- Sidian is on the mend but there’s work to be done
- Amu is on. Delayed but on. $1.5bn debt secured.

I need to go through the presentation and Annual Report with a fine tooth comb
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Ericsson
#8 Posted : Wednesday, June 13, 2018 1:03:56 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
VituVingiSana wrote:
What I heard but I need to re-watch the presentation
- GenAfrica sale will be completed in 1H so cash will reduce debt--Mmmh
- Sales of properties ongoing at Pearl, Two Rivers and Rea but this will take some time--Long time with Jubilee policies

- Debt:Equity has reduced y-o-y
- There’s are more “value uplifts” coming as businesses mature--Give examples
- Sidian is on the mend but there’s work to be done
- Amu is on. Delayed but on. $1.5bn debt secured.

I need to go through the presentation and Annual Report with a fine tooth comb


Kabisa ili usidanganywe
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Angelica _ann
#9 Posted : Wednesday, June 13, 2018 1:59:40 PM
Rank: Elder

Joined: 12/7/2012
Posts: 11,935
Decline in profitability is attributed to lower realized gains as recognition of GenAfrica disposal gains was deferred to FY 2019. Had the gains been booked, the company would have recorded 42% profit increase.


So they are trying to use one transaction for 2 financial years, smile
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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Ericsson
#10 Posted : Thursday, June 14, 2018 9:49:46 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
Angelica _ann wrote:
Decline in profitability is attributed to lower realized gains as recognition of GenAfrica disposal gains was deferred to FY 2019. Had the gains been booked, the company would have recorded 42% profit increase.


So they are trying to use one transaction for 2 financial years, smile


GenAfrica disposal gains deliberately deferred so that HY 18/19 looks good.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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