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Uchumi FY16 loss Ksh 2.8Bn
lochaz-index
#11 Posted : Wednesday, February 01, 2017 10:33:21 AM
Rank: Veteran

Joined: 9/18/2014
Posts: 1,127
Gatheuzi wrote:
It is indeed the first qualified audit opinion I am reading... very interesting.

Not only did they issue a qualified audit opinion but they also issued a disclaimer of opinion. In other words those financial statements don't count for much.
The main purpose of the stock market is to make fools of as many people as possible.
alma1
#12 Posted : Wednesday, February 01, 2017 10:39:40 AM
Rank: Elder

Joined: 9/19/2015
Posts: 2,871
Location: hapo
One day when you buy me a Tusker, I'll tell you why you should never mix rotten potatoes with fresh ones. This company surviving shall be the tales of Business schools worldwide....From my personal experience.
Thieves are not good people. Tumeelewana?

ZZE123
#13 Posted : Wednesday, February 01, 2017 1:41:46 PM
Rank: Elder

Joined: 6/21/2008
Posts: 2,490
Uchumi should be left to die a natural death
The man who marries a beautiful woman, and the farmer who grows corn by the roadside have the same problem
Ngogoyo
#14 Posted : Wednesday, February 01, 2017 4:01:20 PM
Rank: Member

Joined: 6/22/2011
Posts: 561
Location: House
ZZE123 wrote:
Uchumi should be left to die a natural death


and the unlisted Nakumatt is falling into that.

Just a few days ago at their branch. Wife couldn't find her normal salt, nor the starsoft that she buys....well even the toilet soap was missing.

They have taken down the butchery.

and the liquor section i couldn't find my JD since Dec.

As for Uchumi, nothing is as frustrating as one or two visits without finding what you want to buy. Let it die
shalishali
#15 Posted : Wednesday, February 01, 2017 4:06:56 PM
Rank: Member

Joined: 12/15/2009
Posts: 142
Location: Nairobi
I hope Kipngetich has applied for the Ngunze Job at KQ
UKITAFUTA UKABILA UTAKUFA BILA!
VituVingiSana
#16 Posted : Wednesday, February 01, 2017 4:08:53 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,347
Location: Nairobi
Ngogoyo wrote:
ZZE123 wrote:
Uchumi should be left to die a natural death


and the unlisted Nakumatt is falling into that.

Just a few days ago at their branch. Wife couldn't find her normal salt, nor the starsoft that she buys....well even the toilet soap was missing.

They have taken down the butchery.

and the liquor section i couldn't find my JD since Dec.

As for Uchumi, nothing is as frustrating as one or two visits without finding what you want to buy. Let it die
Which supermarket chain will survive? Nakumatt might get the $75mn to help it through the year but can Uchumi survive another year? Any idea on Tuskys and Naivas?

These chains [esp Nakumatt and Uchumi] are ripe for a takeover but it needs a good, deep pocketed and experienced operator.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
sparkly
#17 Posted : Wednesday, February 01, 2017 5:07:50 PM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
VituVingiSana wrote:
Ngogoyo wrote:
ZZE123 wrote:
Uchumi should be left to die a natural death


and the unlisted Nakumatt is falling into that.

Just a few days ago at their branch. Wife couldn't find her normal salt, nor the starsoft that she buys....well even the toilet soap was missing.

They have taken down the butchery.

and the liquor section i couldn't find my JD since Dec.

As for Uchumi, nothing is as frustrating as one or two visits without finding what you want to buy. Let it die
Which supermarket chain will survive? Nakumatt might get the $75mn to help it through the year but can Uchumi survive another year? Any idea on Tuskys and Naivas?

These chains [esp Nakumatt and Uchumi] are ripe for a takeover but it needs a good, deep pocketed and experienced operator.


How can the economy be growing at 5-7% pa while retailers of basic goods are collapsing?
Life is short. Live passionately.
Ericsson
#18 Posted : Wednesday, February 01, 2017 6:11:44 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
Uchumi can survive if;
--They get a ksh.4-5bn bailout
--Pay out suppliers debt and in turn they will restock the shelf with the necessary stock
--Halt any further expansions and opening of branches.
--Repay the creditors from the revenue generated
--Start opening branches when creditors have been paid

With the strategic locations they have their branches customers who love Uchumi will drive to them
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
sparkly
#19 Posted : Wednesday, February 01, 2017 6:32:14 PM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
Ericsson wrote:
Uchumi can survive if;
--They get a ksh.4-5bn bailout
--Pay out suppliers debt and in turn they will restock the shelf with the necessary stock
--Halt any further expansions and opening of branches.
--Repay the creditors from the revenue generated
--Start opening branches when creditors have been paid

With the strategic locations they have their branches customers who love Uchumi will drive to them


That is roughly 30% of the Judiciary Budget.

Let Uchumi die.
Life is short. Live passionately.
muandiwambeu
#20 Posted : Wednesday, February 01, 2017 7:15:45 PM
Rank: Veteran

Joined: 8/28/2015
Posts: 1,247
lochaz-index wrote:
Gatheuzi wrote:
It is indeed the first qualified audit opinion I am reading... very interesting.

Not only did they issue a qualified audit opinion but they also issued a disclaimer of opinion. In other words those financial statements don't count for much.

You hit the nail right where it matters. In other words do not imagine some cooked them, cause the doctor says the patient belongs to the mortician. I can not touch this full blown Ebola case, not even with a mile pole. Eti auditors sincirely distanced themselves from this shenaniganism. Sad Sad Sad Sad
Something must give in for some traders to make sense how gold turns to dust in this NSE. CMA my harssh.
Jesus, and you can't even imagine somebody is sinking all his life into this dead beat monkey.
With this I open a list of blacklisted non investables since CMA has failed to it.
,Behold, a sower went forth to sow;....
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