Profit before tax fell 73.3%

Earnings Per Share fell 70%..

Negative cashflow balance to tune of 648million means on a pershare basis..they r runnin on debt...

I totally have nothing to say.

The race is not always to the swift..nor the battle always to the strong..nor food always to the wise..nor riches always to the intelligent..favor is not always to the skilled..or learned..but time and chance happens to all. Ecl9:5..

Anyone with the results,please post them.

Could it be a result of the Poll violence? Bad whether conditions?Mismanagement?

Whatever the cause,should one who has those shares just cut there losses and dump them?

Is all lost? I bought mine @ 14 shillings so right now the value has dropped by more than 50% !!!!


wakahoro

Does anyone know what became of the case MSC had logded against an importer who imported a large quantity of cheap sugar in 'Mumias Sugar' branded sacks?

Manufacturin industry had a terrible 6months endin dec 08..i doubt many are eager to publish interim result....n Mumias is the first.. atleast u understand why eveready results are 2weeks late from traditional reportin date..

The race is not always to the swift..nor the battle always to the strong..nor food always to the wise..nor riches always to the intelligent..favor is not always to the skilled..or learned..but time and chance happens to all. Ecl9:5..

Fear set in at NSE,and people started bidding at 4bob ( lowest)! I managed to sell mine at 5bob,making a cool 1bob loss!

Anyway,fear not! Demand is slowly building........I guess 3bob or even 2bob is far too low! The share could settle at 4-5bob range! Well,that is my guess!

But you shall remember the LORD your God,for it is He who is giving you power to make wealth,that He may confirm His covenant which He swore to your fathers,as it is this day. Deu 8:18

@kyt.... Not really. May be next time investors won't peg such high dreams on decision to buy a stock... Stock down 15% today..what do u do? Ignore lamenting n cursing. What decision do u need to make n make now! Sorry for the word but 'shit' happens. Make the best of it. Otherwise..disclaimers are nice to consider while takin advice. Mumias as a longterm investment has suddenly increased that longterm definition to much much longer. Portfolio realignin.... cost average...or write off as loss and salvage what u can... What will u do? Do it soon.

The race is not always to the swift..nor the battle always to the strong..nor food always to the wise..nor riches always to the intelligent..favor is not always to the skilled..or learned..but time and chance happens to all. Ecl9:5..

@ njunge

yes i can wait till end of the year as long as the patience pays .my fear was i keep holding for so long yet the price may stagnate.

thanks


anyone who lives within their means suffer from lack of imagination

So if you decide to sell now,then you shall have half of you cash...........as in 9.75/2 = 4.8

That's the bid price people were placing today...............It went as high as 5.20bob,before dropping to 5bob.

In short,you'll get half of your cash back. Now,we are in this business to make money. Not to make losses! I would suggest that you wait.......................Sample this:

While I was at the market today,I overhead a lady speak thus: ' I swear,I will never take in a loss. I once took in a loss when Equity was 312bob,and it went to 170bob and she sold the shares and make a cool loss. Her 0.5M was reduced considerably! She has since learnt to wait,even if its 5 years. This time round,she owns mumias shares which she bought at 12bob,and now the dem share is 5bob. Her verdict: She will wait.'

Selling shares at a loss is giving away 'free' money to someone else! Someone who is ready to wait and make a profit from the same shares! So at that instance you are making a loss and he is making a profit (by buying from you). My verdict: wait,unless there is no otherwise,sell the dem thing: Take in the loss!


But you shall remember the LORD your God,for it is He who is giving you power to make wealth,that He may confirm His covenant which He swore to your fathers,as it is this day. Deu 8:18

I bought this company at 60 in 2007 and was lucky to get off at 30. Truth is after analyzing the company I knew it should have been worth about 6kshs but I was blinded by the market sentiment at that time.
Time is the friend of the good company but the enemy of the bad company.
The main problem with this company seems to be ownership - if it was more privately owned they would be less likely to make as many blunders and for politicians to take advantage of the company.
However at some point it's bound to get very cheap but buying a bad company may eventually lead to losses.