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East African Cables
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2012
#21 Posted : Friday, June 11, 2010 12:57:24 PM
Rank: Elder


Joined: 12/9/2009
Posts: 6,592
Location: Nairobi
From yesterday's budget:

Import duty on aluminium conductors and cables has been increased from 10% to 25 %

Will this adversely affect EA Cables?

BBI will solve it :)
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the deal
#22 Posted : Friday, June 11, 2010 1:33:20 PM
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Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
2012 wrote:
From yesterday's budget:

Import duty on aluminium conductors and cables has been increased from 10% to 25 %

Will this adversely affect EA Cables?

Definitely they will be affected but they might benefit from the power billions in the budjet...
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Mpenzi
#23 Posted : Friday, June 11, 2010 3:40:36 PM
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Joined: 10/17/2008
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I would imagine that EA Cables benefits from this as they manufacture cables locally or am I missing something here?
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2012
#24 Posted : Friday, June 11, 2010 4:20:41 PM
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Joined: 12/9/2009
Posts: 6,592
Location: Nairobi
Mpenzi wrote:
I would imagine that EA Cables benefits from this as they manufacture cables locally or am I missing something here?


We don't mine aluminum or copper in Kenya.

BBI will solve it :)
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VituVingiSana
#25 Posted : Friday, June 11, 2010 7:03:38 PM
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Joined: 1/3/2007
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Location: Nairobi
EA Cables used their political heft here but it will benefit since it MANUFACTURES cables locally...

EAC imports copper (Zambia) & Aluminum... The tax on the imported FINISHED products has gone up...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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BGL
#26 Posted : Saturday, July 10, 2010 10:55:02 PM
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Joined: 10/11/2009
Posts: 1,223
This is one stock which the market has decided to punish. It closed the year at Ksh 20.25 and six months later it has made 0.0% gains. I thought by venturing into the fibre-optic manufacturing plus their regional expansion would excite the market.

Back to the Technical analysts, which direction will this stock take in the short term.
History will not remember you for your IQ. It will remember you for what you did. “Genius is 1 percent inspiration, 99 percent perspiration.” Thomas Edison
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VituVingiSana
#27 Posted : Saturday, July 10, 2010 11:02:31 PM
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Joined: 1/3/2007
Posts: 18,050
Location: Nairobi
BGL wrote:
This is one stock which the market has decided to punish. It closed the year at Ksh 20.25 and six months later it has made 0.0% gains. I thought by venturing into the fibre-optic manufacturing plus their regional expansion would excite the market.

Back to the Technical analysts, which direction will this stock take in the short term.

Before you conclude the market has 'punished' EA Cables...

1) What is the EPS for 2009 thus we can calculate historical PER
2) What is the 'projected' EPS?
3) What is NAV without 'goodwill'?
4) How is the management/new CEO? [Mugo Kibati quit]
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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VituVingiSana
#28 Posted : Saturday, July 17, 2010 10:52:17 AM
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Joined: 1/3/2007
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Location: Nairobi
Hmmm... PROFIT WARNING due to bad debts in Tanzania & poor business climate there... Kenya has done well as KPLC expands...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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the deal
#29 Posted : Monday, July 19, 2010 11:24:07 AM
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Joined: 9/25/2009
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Location: Windhoek/Nairobbery
i think speculators will learn their lesson here...on friday this counter gained 7.5%...today its DOWN 13.3%...
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the deal
#30 Posted : Monday, July 19, 2010 11:36:44 AM
Rank: Elder


Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
sparkly wrote:
Wondergirl wrote:
Whats up with this share? Its price is just going down. I was actualy hoping that the price starts going up in anticipation for year end results?Sad

Undervalued because of unique operational challenges in 2009- high commodity prices and manufacturing plant upgrades. Expect modest results for 2009. Company has a long history of profitability and dividend payment. Buy more if you can. Future is bright.

i hope u didnt buy more due to @sparkly advice...
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guru267
#31 Posted : Monday, July 19, 2010 11:43:47 AM
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Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
Profit warnings should be banned.... The guys who were buying on friday are gettin fried alive today.... The guys who sold on friday are way above the clouds...
Mark 12:29
Deuteronomy 4:16
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sheep
#32 Posted : Monday, July 19, 2010 11:44:03 AM
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Joined: 7/24/2008
Posts: 781
The down season is here with us mpaka october...expect 50% losses on some counters.
The utimate goal of investing is to buy low sell high;if we re-write this core equation in psychology terms it becomes buy fear sell greed.
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Jaguar
#33 Posted : Monday, July 19, 2010 11:53:05 AM
Rank: Member


Joined: 6/7/2007
Posts: 263
Location: humu humu
NAIROBI (Reuters) - Kenya's East African Cables on Saturday issued a profit warning for the financial year ending December due to unsatisfactory performance by its Tanzanian unit.

The company recorded a 51 percent drop in pre-tax profit for the first quarter of 2010 to 84.67 million Kenya shillings, due to high metal prices that put pressure on its margins.

East African Cables said its Kenyan unit was strong and profitable, but its Tanzanian unit was not faring well.

"A decline in profitability has occurred within our subsidiary in Tanzania ... arising from ... significant provisioning of bad and doubtful debts and inventory ... (and) continued volatility in sales in the Tanzanian utility sector," it said in a statement published in the local Nation newspaper.

"The impact of the above factors, which see the subsidiary report a significant loss, will be reflected in the group's unaudited results of the first half of this financial year..."

East African Cables' shares closed Friday trade on the Nairobi Stock Exchange at 21.75 shillings, from 20.25 shillings a day earlier.

http://af.reuters.com/ar...ws/idAFJOE66G01920100717
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Wa_ithaka
#34 Posted : Monday, July 19, 2010 12:12:48 PM
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Joined: 1/7/2010
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Location: nbi
guru267- I am surprised to hear you say profit warnings should be banned. I believe CMA/NSE explicitly requires listed firms to notify firms of material changes in the firms' perfomance
The Governor of Nyeri - 2017
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winston
#35 Posted : Monday, July 19, 2010 1:03:49 PM
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Joined: 4/14/2010
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Location: Nairobi
sheep wrote:
The down season is here with us mpaka october...expect 50% losses on some counters.


Please elaborate...I thought (other than the Referendum) the release of first half results and the improved economic forecasts should spur the market or at the very least hold steady?
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mukiha
#36 Posted : Monday, July 19, 2010 1:52:39 PM
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Joined: 6/27/2008
Posts: 4,114
Profit warning is just a blip in an otherwise good company. Every electrician I talk to sings praise of wire from from EA Cables. They are pricy but are recognised as the best in the market....
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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mukiha
#37 Posted : Monday, July 19, 2010 1:54:48 PM
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Joined: 6/27/2008
Posts: 4,114
VituVingiSana wrote:
EA Cables used their political heft here but it will benefit since it MANUFACTURES cables locally...

EAC imports copper (Zambia) & Aluminum... The tax on the imported FINISHED products has gone up...

Isn't duty on imported finished products what we've been advocating for all these years?
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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VituVingiSana
#38 Posted : Tuesday, December 03, 2019 9:58:31 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,050
Location: Nairobi
https://www.businessdail...0620-mn9kukz/index.html Competition
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Kusadikika
#39 Posted : Tuesday, December 03, 2019 11:36:18 PM
Rank: Elder


Joined: 7/22/2008
Posts: 2,695
VituVingiSana wrote:
https://www.businessdailyafrica.com/corporate/companies/Firm-targets-real-estate-with-Sh1bn-cables-factory/4003102-5370620-mn9kukz/index.html Competition


Ukishindana na ndovu kunya utapasuka msamba. The only way you can make money in manufacturing things in Kenya that can be procured way cheaper from China is if you have a personal relationship with everybody on the board of Kenya Power and the whole management including everyone in procurement and they have assured you that they will pay you 10 times the market price of cables and you have deposited their cut from the deal even before you begin construction of the factory......... You also need to have contacts at the port and all border points to ensure no cables ever enter Kenya for at least 5 years..
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FUNKY
#40 Posted : Monday, January 27, 2020 1:06:08 PM
Rank: Veteran


Joined: 4/30/2010
Posts: 1,635
BREAKING NEWS: @sbmbankkenya Ltd. has filed a petition before the High Court to liquidate East African Cables Ltd. Through its advocates, Robson Harris and Company Advocates, the bank says the petition is scheduled to be mentioned in court next Tuesday on 4th February 2020. https://t.co/hkyqyjRppA
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