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KenolKobil first HY 2011 pretax profit up 86%
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VituVingiSana
#61 Posted : Tuesday, July 26, 2011 8:55:16 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,361
Location: Nairobi
Iborian wrote:
Another interesting thing to think about. KK made a lot of money from the arbitrage opportunities arising from increasing product prices on the local market.

Being the smart guys they are, walikikisha, they had sufficient inventory ahead of the controlled price increases.

Kwenda mbele, can this continue at the same rate? Serikali will be on them, au siyo?
KK was smart to load up on cheap inventory so is being smart (in a clean way) a crime? NOCK gives away 90mn to Prisko. Plus imports pricey diesel. That is stupid.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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VituVingiSana
#62 Posted : Tuesday, July 26, 2011 8:59:24 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,361
Location: Nairobi
@stocksmaster has been consistently behind KK. I believe we have been vindicated. Heck, I would be happy if the price did not rise tomorrow! Why? I wanna buy more!

Forget Britak, TransCentury or Bank of Kigali coz I am invested in Rwanda thru KK...!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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the deal
#63 Posted : Tuesday, July 26, 2011 9:40:40 PM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
VituVingiSana wrote:
@stocksmaster has been consistently behind KK. I believe we have been vindicated. Heck, I would be happy if the price did not rise tomorrow! Why? I wanna buy more!

Forget Britak, TransCentury or Bank of Kigali coz I am invested in Rwanda thru KK...!

KK has been trading below 11 bob for the past 2 weeks...the time to buy has passed...with an interim dividend...let it rally...
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Aguytrying
#64 Posted : Tuesday, July 26, 2011 11:13:57 PM
Rank: Elder

Joined: 7/11/2010
Posts: 5,040
When is book closure anyone? EA cables rallied 16 percent on a 30cts dividend, from 12-13.50. A few weeks ago. Sasini also got jolted by an ID from 10.00 to around 12.00. Was it two months ago. And these aint at kk's level. Last Share traded was at 13.13, i think due to announcement. Let her go.......
The investor's chief problem - and even his worst enemy - is likely to be himself
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kenyainvestor
#65 Posted : Tuesday, July 26, 2011 11:48:26 PM
Rank: Member

Joined: 7/12/2011
Posts: 194
Interesting to see at what price the opening bids will be tomorrow
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Gordon Gekko
#66 Posted : Wednesday, July 27, 2011 7:08:31 AM
Rank: Elder

Joined: 5/27/2008
Posts: 3,760
cnn wrote:
The one and only J.Segman live on CNBC tomorrow at 1.40pm,make a date.


Charles Njogu, put this interview on the website, like you did with the AGM.
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Gordon Gekko
#67 Posted : Wednesday, July 27, 2011 7:12:29 AM
Rank: Elder

Joined: 5/27/2008
Posts: 3,760
Renegade wrote:
@Iborian. Worse still would be for International oil prices to tumble at a time like this with 20 billion in stocks. It happened to them before and they made quite a loss. Hope they learnt a good lesson.


With price controls, the Govt has in effect hedged KK against this risk as purchases are done only once at the beginning of the month and costs factored into the ERC formula and retail prices guaranteed regardless of volatility in the world market.
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Gordon Gekko
#68 Posted : Wednesday, July 27, 2011 7:20:14 AM
Rank: Elder

Joined: 5/27/2008
Posts: 3,760
I have been looking at the numbers.

Real cash was 4B, against a negative position the previous year. Good.
As at the end of the period KK had borrowed 20B. Finance costs for the period were 1.3B, meaning a finance cost of roughly 6%. Good
Accounts Receivable went down to 7.7B from 11B, meaning they are collecting their debts sooner. Good.
They were sitting on cash of 10B, probably why the finance costs are lower. Good.
I'm not able to decipher if any exchange gains have been recognized as income, with the depreciation of the shilling. Could be bad.
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Aguytrying
#69 Posted : Wednesday, July 27, 2011 7:41:03 AM
Rank: Elder

Joined: 7/11/2010
Posts: 5,040
kenyainvestor wrote:
KenolKobil is making too much money. Where are THE THREE STOOGES? Anxious

good review. In your estimate of 2011 full yr, you put net profit at 2.87b. While half year net profit as at now is 2.1b. Meaning u predict they will make 0.7b in H2. Ie less than 50 percent of H1. Why is this?
The investor's chief problem - and even his worst enemy - is likely to be himself
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Cde Monomotapa
#70 Posted : Wednesday, July 27, 2011 8:28:00 AM
Rank: Chief

Joined: 1/13/2011
Posts: 5,964
Mah8r hawakosi. How can KK make so much money? Coz it can.
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