Looks like aquisition is yielding good returns. @qw, what do you see from the charts?

this question should be more like what do you see in the crystal glass?

For the benefit of all, quote direct from website

The performance of the Company for the first quarter of 2010 is in line with the management projections. Sales volume went up by 134 KT as compared to same period in 2009 resulting not only from the merger but also from very good performance in the Network and Consumer Channels. This increase in sales volume led to an increase in the company's inland market share from 18.2 % in March 2009 to 31.1 % in March 2010.
Turnover went up by KSh 12,076 million as a result, coupled with increase in international oil prices. Gross profit on the other hand went up by over 300% due to positive margins in 2010 as compared to negative margins realised in the first quarter of 2009. Operating expenses increased by 77 % which is in line with increased operations for the merged company. Financial expenses went up by KSh 213 million due to interest charged on the medium term loan and the financing cost of the increased working capital requirements.
Net profit reached KSh 206 million compared to a net loss of KSh 109 million recorded in 2009. The performance for the remainder of the year is dependent on improvement in product availability to up country depots through the pipeline system, increased efficiency at the refinery and stability of prices in the international market. The management is also optimistic that we shall begin to realise the benefits of synergies of the merged company which have the potential for improved performance.


Felix Majekodunmi
Managing Director

This counter gonna hit 33 and swing back. I always stoch at sub 30 level and on major announcement discard at 33-34 region, if dividends get me well and good, it is an added gain.

The value is yet to be unlocked, when it does, people will smile like those who bought ARM at 90 bob recently. They will not get ulcers when it drops from 160 to 145.