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Centum half year result 2019/2020
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littledove
#1 Posted : Thursday, November 28, 2019 9:21:12 AM
Rank: Veteran

Joined: 7/1/2014
Posts: 927
Location: sky
key highlights
- Operating profit is up 49% from HY19 to KShs. 1.4 billion
-profit was driven by the gains on disposal (almasi 2.64b) and impairment provision(amu power2.3b), primarily in Amu Power
The provision for Amu Power of KShs. 2.1b is not a write-off but a provision given the uncertainties
-Our goal is to create value and keep the
@CentumPLC balance sheet debt free.ceo
Our objective is to be debt free by June 2020
We would expect no more long term debt at Centum level
-@SidianBank's performance has improved post rate cap and shows significant progress in driving return to profit"
-In the real estate sector, 1,316 units are under construction and 827 of those have already been pre sold.
The sales value of the pre sold units is KShs. 6.05 billion.
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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VituVingiSana
#2 Posted : Thursday, November 28, 2019 9:40:58 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
littledove wrote:
key highlights
- Operating profit is up 49% from HY19 to KShs. 1.4 billion
-profit was driven by the gains on disposal (almasi 2.64b) and impairment provision(amu power2.3b), primarily in Amu Power
The provision for Amu Power of KShs. 2.1b is not a write-off but a provision given the uncertainties
-Our goal is to create value and keep the
@CentumPLC balance sheet debt free.ceo
Our objective is to be debt free by June 2020
We would expect no more long term debt at Centum level
-@SidianBank's performance has improved post rate cap and shows significant progress in driving return to profit"
-In the real estate sector, 1,316 units are under construction and 827 of those have already been pre sold.
The sales value of the pre sold units is KShs. 6.05 billion.
Applause Applause Applause One of my core positions
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Balaa
#3 Posted : Thursday, November 28, 2019 9:44:31 AM
Rank: Member

Joined: 7/6/2018
Posts: 175
Location: Kinshasa
Any news as to when they will start showing us investors the money?
If it don't make dollars, it don't make sense
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VituVingiSana
#4 Posted : Thursday, November 28, 2019 9:50:36 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
Balaa wrote:
Any news as to when they will start showing us investors the money?
Share buybacks are expected to start after the loans are paid off and approvals received. Patience.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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heri
#5 Posted : Thursday, November 28, 2019 9:51:32 AM
Rank: Member

Joined: 9/14/2011
Posts: 869
Location: nairobi
littledove wrote:
key highlights
- Operating profit is up 49% from HY19 to KShs. 1.4 billion
-profit was driven by the gains on disposal (almasi 2.64b) and impairment provision(amu power2.3b), primarily in Amu Power
The provision for Amu Power of KShs. 2.1b is not a write-off but a provision given the uncertainties
-Our goal is to create value and keep the
@CentumPLC balance sheet debt free.ceo
Our objective is to be debt free by June 2020
We would expect no more long term debt at Centum level
-@SidianBank's performance has improved post rate cap and shows significant progress in driving return to profit"
-In the real estate sector, 1,316 units are under construction and 827 of those have already been pre sold.
The sales value of the pre sold units is KShs. 6.05 billion.


The NAV is looking good even if one was to discount it significantly

and the reducing debt levels

My worry is the real estate market situation.
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muganda
#6 Posted : Thursday, November 28, 2019 10:07:25 AM
Rank: Elder

Joined: 9/15/2006
Posts: 3,907
Curiously:
Consolidated income statement +226%
Company income statement -273%

Gains on disposal of Almasi 2.6bn
Writedown on Amu Power -2.3bn

Net Asset Value per share down 4%
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sparkly
#7 Posted : Thursday, November 28, 2019 10:18:23 AM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
muganda wrote:
Curiously:
Consolidated income statement +226%
Company income statement -273%

Gains on disposal of Almasi 2.6bn
Writedown on Amu Power -2.3bn

Net Asset Value per share down 4%



Centum is selling good assets to cover for losses from their risky investments.

People shouldn't be left dancing when the music stops.
Life is short. Live passionately.
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VituVingiSana
#8 Posted : Thursday, November 28, 2019 10:38:38 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
sparkly wrote:
muganda wrote:
Curiously:
Consolidated income statement +226%
Company income statement -273%

Gains on disposal of Almasi 2.6bn
Writedown on Amu Power -2.3bn

Net Asset Value per share down 4%



Centum is selling good assets to cover for losses from their risky investments.

People shouldn't be left dancing when the music stops.

That's not why they sold Almasi but they got a good price. The total gain was 18.6bn. The realized less unrealized gain = 2.6bn
It's a good move to provide for Amu given it is almost dead.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Horton
#9 Posted : Thursday, November 28, 2019 11:06:00 AM
Rank: Veteran

Joined: 8/30/2007
Posts: 1,558
Location: Nairobi
VituVingiSana wrote:
sparkly wrote:
muganda wrote:
Curiously:
Consolidated income statement +226%
Company income statement -273%

Gains on disposal of Almasi 2.6bn
Writedown on Amu Power -2.3bn

Net Asset Value per share down 4%



Centum is selling good assets to cover for losses from their risky investments.

People shouldn't be left dancing when the music stops.

That's not why they sold Almasi but they got a good price. The total gain was 18.6bn. The realized less unrealized gain = 2.6bn
It's a good move to provide for Amu given it is almost dead.


By that logic...BRK should be selling Coca Cola they bought at $2.45 and sold to help out Dexter or Tesco. That would be throwing good money after bad. Almasi has done well for Centum but they really aren’t the contrarian investors they want everyone to believe. The economy is on the down. It’s now that we we will see who has been swimming naked as the waves recede
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Angelica _ann
#10 Posted : Thursday, November 28, 2019 11:12:50 AM
Rank: Elder

Joined: 12/7/2012
Posts: 11,935
littledove wrote:
key highlights
- Operating profit is up 49% from HY19 to KShs. 1.4 billion
-profit was driven by the gains on disposal (almasi 2.64b) and impairment provision(amu power2.3b), primarily in Amu Power
The provision for Amu Power of KShs. 2.1b is not a write-off but a provision given the uncertainties
-Our goal is to create value and keep the
@CentumPLC balance sheet debt free.ceo
Our objective is to be debt free by June 2020
We would expect no more long term debt at Centum level
-@SidianBank's performance has improved post rate cap and shows significant progress in driving return to profit"
-In the real estate sector, 1,316 units are under construction and 827 of those have already been pre sold.
The sales value of the pre sold units is KShs. 6.05 billion.


Paid for fully or deposit manenos - asking for a friend.
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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