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Housing Finance HY 2015 up 2.2%; dividend of 0.65
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mwekez@ji
#11 Posted : Wednesday, July 22, 2015 3:38:03 PM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
streetwise wrote:
I never understand why HF can't perform better

Clearly a lacklustre performance
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mwekez@ji
#12 Posted : Wednesday, July 22, 2015 3:40:01 PM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
Which projects is their KBS currently undertaking?
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Aguytrying
#13 Posted : Wednesday, July 22, 2015 3:51:06 PM
Rank: Elder

Joined: 7/11/2010
Posts: 5,040
mwekez@ji wrote:
Which projects is their KBS currently undertaking?


From SIB. Komarock 5B and Komarock commercial due for sale in H2 2015
The investor's chief problem - and even his worst enemy - is likely to be himself
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heri
#14 Posted : Wednesday, July 22, 2015 4:02:54 PM
Rank: Member

Joined: 9/14/2011
Posts: 869
Location: nairobi
streetwise wrote:
I never understand why HF can't perform better


i have been wondering the same. My little experience with building houses tells me that for a house i sell at say Kshs 8M, i can construct it with not more than 5M inclusive of all costs. Hence i cannot understand why if they are selling houses at 8M, why don't they make better profit margins

Their costs must be very high unless other people eat in the supply chain deals
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Othelo
#15 Posted : Wednesday, July 22, 2015 4:23:38 PM
Rank: User

Joined: 1/20/2014
Posts: 3,528
heri wrote:
streetwise wrote:
I never understand why HF can't perform better


i have been wondering the same. My little experience with building houses tells me that for a house i sell at say Kshs 8M, i can construct it with not more than 5M inclusive of all costs. Hence i cannot understand why if they are selling houses at 8M, why don't they make better profit margins

Their costs must be very high unless other people eat in the supply chain deals

HFCK costs should even be lower because of economies of scale and expereince resulting in wider net revenue margins!
Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
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murchr
#16 Posted : Wednesday, July 22, 2015 4:44:24 PM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
mwekez@ji wrote:
Which projects is their KBS currently undertaking?


Komarock Ph5. They were to sell that this year
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
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mwekez@ji
#17 Posted : Wednesday, July 22, 2015 7:15:00 PM
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Joined: 5/31/2011
Posts: 5,121
Asanta @Aguy @murchr. Thats the space to watch in H2
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mwekez@ji
#18 Posted : Wednesday, July 22, 2015 7:41:02 PM
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Joined: 5/31/2011
Posts: 5,121
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Aguytrying
#19 Posted : Wednesday, July 22, 2015 7:50:39 PM
Rank: Elder

Joined: 7/11/2010
Posts: 5,040
Othelo wrote:
heri wrote:
streetwise wrote:
I never understand why HF can't perform better


i have been wondering the same. My little experience with building houses tells me that for a house i sell at say Kshs 8M, i can construct it with not more than 5M inclusive of all costs. Hence i cannot understand why if they are selling houses at 8M, why don't they make better profit margins

Their costs must be very high unless other people eat in the supply chain deals

HFCK costs should even be lower because of economies of scale and expereince resulting in wider net revenue margins!


What profit margins have they been making from selling houses?
The investor's chief problem - and even his worst enemy - is likely to be himself
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mwekez@ji
#20 Posted : Wednesday, July 22, 2015 8:50:14 PM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
@Aguy,

in 2013 which was the initial year of this segment:

House sales income, Kes. 1,021,644,000/-
Cost of sold houses, Kes. 793,753,000/-
Profit from sale of the houses, 227,891,000/-
Profit Margin, 22%

Source; Page 80-81 of 2013 Annual Report http://www.housing.co.ke/images/pdf/AnnualReport2013.pdf


In 2014, we need the 2014 Annual Report to tell, any link?

Bottom line, this is good income. They also gain further by lending mortgage loans to the house buyers

.
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  | | Edit by user: Wednesday, July 22, 2015 10:09 PM | Reason: Not specified
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