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KenolKobil 2018 and beyond
Rank: Elder Joined: 7/21/2010 Posts: 6,194 Location: nairobi
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VituVingiSana wrote:I agree with @Madebe. I am not going to sugarcoat it. This is a disappointment given the "positive" vibes given to shareholders during the AGM.
Gross Profits are down 10% despite a 8% growth in volumes.
The growth in sales is simply a matter of increased fuel prices.
The net margins have taken a beating.
The Opex is down but that's a sleight of hand given the non-recurring KPRL expense.
There a +52mn turnaround in forex gains but that is a fickle line item. It's usually a forex loss given the general trend of the KES.
The Finance Charges are up huge given the higher oil prices and volume growth. Borrowings at 10.7bn which is almost +50% YOY.
After accounting for the options awarded to Ohana, the EPS has dipped to 1.065 for 1H which is a far cry from the 2.50 - 2.90 expected for the FY.
No, I am not impressed though I do admit that 1H 2018 has been tough for many firms given the high KES interest rates, increasing LIBOR and general malaise. KK needs to push all the right buttons in 2H to meet the 2.50 target.
2H will be tough with what's going on. I wonder what the hit will be on margins and volumes when VAT is likely to be introduced in September.
Interim div?sioni mzuri "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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mlennyma wrote:VituVingiSana wrote:I agree with @Madebe. I am not going to sugarcoat it. This is a disappointment given the "positive" vibes given to shareholders during the AGM.
Gross Profits are down 10% despite a 8% growth in volumes.
The growth in sales is simply a matter of increased fuel prices.
The net margins have taken a beating.
The Opex is down but that's a sleight of hand given the non-recurring KPRL expense.
There a +52mn turnaround in forex gains but that is a fickle line item. It's usually a forex loss given the general trend of the KES.
The Finance Charges are up huge given the higher oil prices and volume growth. Borrowings at 10.7bn which is almost +50% YOY.
After accounting for the options awarded to Ohana, the EPS has dipped to 1.065 for 1H which is a far cry from the 2.50 - 2.90 expected for the FY.
No, I am not impressed though I do admit that 1H 2018 has been tough for many firms given the high KES interest rates, increasing LIBOR and general malaise. KK needs to push all the right buttons in 2H to meet the 2.50 target.
2H will be tough with what's going on. I wonder what the hit will be on margins and volumes when VAT is likely to be introduced in September.
Interim div?sioni mzuri 30 cents Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 1/3/2007 Posts: 18,346 Location: Nairobi
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36 cents. Payable 15 Oct. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Member Joined: 10/7/2010 Posts: 251 Location: nairobi
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Ericsson wrote:mlennyma wrote:VituVingiSana wrote:I agree with @Madebe. I am not going to sugarcoat it. This is a disappointment given the "positive" vibes given to shareholders during the AGM.
Gross Profits are down 10% despite a 8% growth in volumes.
The growth in sales is simply a matter of increased fuel prices.
The net margins have taken a beating.
The Opex is down but that's a sleight of hand given the non-recurring KPRL expense.
There a +52mn turnaround in forex gains but that is a fickle line item. It's usually a forex loss given the general trend of the KES.
The Finance Charges are up huge given the higher oil prices and volume growth. Borrowings at 10.7bn which is almost +50% YOY.
After accounting for the options awarded to Ohana, the EPS has dipped to 1.065 for 1H which is a far cry from the 2.50 - 2.90 expected for the FY.
No, I am not impressed though I do admit that 1H 2018 has been tough for many firms given the high KES interest rates, increasing LIBOR and general malaise. KK needs to push all the right buttons in 2H to meet the 2.50 target.
2H will be tough with what's going on. I wonder what the hit will be on margins and volumes when VAT is likely to be introduced in September.
Interim div?sioni mzuri 30 cents we now wait and see what TOTAL will post for ease of comparison. i was expecting the one offs to really boost the earnings....
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Rank: Elder Joined: 7/21/2010 Posts: 6,194 Location: nairobi
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VituVingiSana wrote:36 cents. Payable 15 Oct. 36 and 30cts but i can believe your figure since this is your cow "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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mlennyma wrote:VituVingiSana wrote:36 cents. Payable 15 Oct. 36 and 30cts but i can believe your figure since this is your cow Quote:Interim dividends
The Board of Directors has declared an interim dividend of KShs. 0.36 per share (2017 KShs. 0.30 interim dividend). The interim dividend, which is subject to withholding tax, will be paid on or around 15th October 2018 to shareholders in the register at the close of business on 24th August 2018.
By order of the Board Pesa Nane plans to be shilingi when he grows up.
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Rank: Veteran Joined: 4/4/2016 Posts: 2,016 Location: Kitale
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Pesa Nane wrote:mlennyma wrote:VituVingiSana wrote:36 cents. Payable 15 Oct. 36 and 30cts but i can believe your figure since this is your cow Quote:Interim dividends
The Board of Directors has declared an interim dividend of KShs. 0.36 per share (2017 KShs. 0.30 interim dividend). The interim dividend, which is subject to withholding tax, will be paid on or around 15th October 2018 to shareholders in the register at the close of business on 24th August 2018.
By order of the Board This is a good gesture to shareholders. Towards the goal of financial freedom
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Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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Ebenyo wrote:Pesa Nane wrote:mlennyma wrote:VituVingiSana wrote:36 cents. Payable 15 Oct. 36 and 30cts but i can believe your figure since this is your cow Quote:Interim dividends
The Board of Directors has declared an interim dividend of KShs. 0.36 per share (2017 KShs. 0.30 interim dividend). The interim dividend, which is subject to withholding tax, will be paid on or around 15th October 2018 to shareholders in the register at the close of business on 24th August 2018.
By order of the Board This is a good gesture to shareholders. In the current drought environment with market downturn Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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 Pesa Nane plans to be shilingi when he grows up.
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Rank: Veteran Joined: 4/4/2016 Posts: 2,016 Location: Kitale
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These means supply will be high and i expect demand to be low due to the huge volume of 79 million shares.A very good opportunity for KK shareholders to increase their holdings at low price. Towards the goal of financial freedom
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