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Is it the right time to buy CENTUM?
Rank: Chief Joined: 1/3/2007 Posts: 18,342 Location: Nairobi
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Ericsson wrote:Industrial and Commercial Bank of China (ICBC) has withdrawn funding for the Lamu Coal project Old news. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Member Joined: 9/14/2011 Posts: 869 Location: nairobi
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https://citizentv.co.ke/...fit-90-per-cent-590756/
Centum Group lending subsidiary Sidian Bank has booked a 90 per cent dip in profits across nine months to September 30 with earnings down at Ksh.8.1 million. The sharp contraction in profits from Ksh.83.5 million last year is highly attributable to a shrink in the bank’s operating income. Sidian’s net interest income for instance retracted by 17.3 per cent to Ksh.583 million while streams from non-interest funded (NFI) income fell to Ksh.973.1 million from Ksh.1.1 billion last year. The bank incurred higher interest expenses of Ksh.1.1 billion from Ksh.786 million in 2019 indicated a higher cost of mobilizing customer deposits.
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Rank: Chief Joined: 1/3/2007 Posts: 18,342 Location: Nairobi
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heri wrote:https://citizentv.co.ke/business/sidian-bank-nine-months-profit-90-per-cent-590756/
Centum Group lending subsidiary Sidian Bank has booked a 90 per cent dip in profits across nine months to September 30 with earnings down at Ksh.8.1 million.
The sharp contraction in profits from Ksh.83.5 million last year is highly attributable to a shrink in the bank’s operating income.
Sidian’s net interest income for instance retracted by 17.3 per cent to Ksh.583 million while streams from non-interest funded (NFI) income fell to Ksh.973.1 million from Ksh.1.1 billion last year.
The bank incurred higher interest expenses of Ksh.1.1 billion from Ksh.786 million in 2019 indicated a higher cost of mobilizing customer deposits. Tough times. Good to take provisions sooner than later! Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Chief Joined: 1/3/2007 Posts: 18,342 Location: Nairobi
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Centum Real Estate Opens KSh4bn Project Bond https://centumre.co.ke/n...ens-ksh4bn-project-bond/Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Member Joined: 9/14/2011 Posts: 869 Location: nairobi
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Rank: Member Joined: 7/6/2018 Posts: 175 Location: Kinshasa
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Same dudes had issued a BUY recommendation for Bamburi a few weeks before the share price started tumbling. A brokerage firm is like a hype man. He/she has no fiduciary duty. (Someone replied to the tweet with a "SELL,SELL"  ) Anyway BUY or SELL the broker makes their money. If it don't make dollars, it don't make sense
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Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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HY profits drop from ksh.6.6bn to a loss og 2bn Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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Balaa wrote:Same dudes had issued a BUY recommendation for Bamburi a few weeks before the share price started tumbling. A brokerage firm is like a hype man. He/she has no fiduciary duty. (Someone replied to the tweet with a "SELL,SELL" ) Anyway BUY or SELL the broker makes their money. Well...  possunt quia posse videntur
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Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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The biggest loss in the history of the company Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/7/2012 Posts: 11,935
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Ericsson wrote:The biggest loss in the history of the company Why the big loss, contributed by? In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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Angelica _ann wrote:Ericsson wrote:The biggest loss in the history of the company Why the big loss, contributed by? Drop in trading income after disposal of Almasi beverages and stake in Nairobi bottlers. Drop in investment income,since there was no asset disposal. Poor performance in Sidian, Longhorn publishers and NAS. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Veteran Joined: 8/10/2014 Posts: 992 Location: Kenya
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Angelica _ann wrote:Ericsson wrote:The biggest loss in the history of the company Why the big loss, contributed by? Last year there was a gain in disposal (Almasi)of about Ksh12bn recognized in the consolidated income statement and the sales by Almasi of ksh4 bn were still being consolidated into the statement. These were not present in the current financial year. There has also been an uptick of losses in some associates and joint ventures (Two Rivers, Sabis, Nas Servair),some of them were not in operation after covid measures kicked in. The rest of the items are largely similar apart from the decrease in interest cost. Personally, I never look at the consolidated income statement since these are many companies in different industries and shareholding being consolidated together. I look at the company statement to see what comes back as dividend, interest income and gains in disposal of assets. This is what will determine whether I get a dividend or not.
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Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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watesh wrote:Angelica _ann wrote:Ericsson wrote:The biggest loss in the history of the company Why the big loss, contributed by? Last year there was a gain in disposal (Almasi)of about Ksh12bn recognized in the consolidated income statement and the sales by Almasi of ksh4 bn were still being consolidated into the statement. These were not present in the current financial year. There has also been an uptick of losses in some associates and joint ventures (Two Rivers, Sabis, Nas Servair),some of them were not in operation after covid measures kicked in. The rest of the items are largely similar apart from the decrease in interest cost. Personally, I never look at the consolidated income statement since these are many companies in different industries and shareholding being consolidated together. I look at the company statement to see what comes back as dividend, interest income and gains in disposal of assets. This is what will determine whether I get a dividend or not. To reverse that loss into a profit and pay dividend is a tall order. The next asset to be disposed I see is Sidian bank Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Member Joined: 7/6/2018 Posts: 175 Location: Kinshasa
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Ericsson wrote:watesh wrote:Angelica _ann wrote:Ericsson wrote:The biggest loss in the history of the company Why the big loss, contributed by? Last year there was a gain in disposal (Almasi)of about Ksh12bn recognized in the consolidated income statement and the sales by Almasi of ksh4 bn were still being consolidated into the statement. These were not present in the current financial year. There has also been an uptick of losses in some associates and joint ventures (Two Rivers, Sabis, Nas Servair),some of them were not in operation after covid measures kicked in. The rest of the items are largely similar apart from the decrease in interest cost. Personally, I never look at the consolidated income statement since these are many companies in different industries and shareholding being consolidated together. I look at the company statement to see what comes back as dividend, interest income and gains in disposal of assets. This is what will determine whether I get a dividend or not. To reverse that loss into a profit and pay dividend is a tall order. The next asset to be disposed I see is Sidian bank Would that (i.e continued disposal) not be tantamount to swimming naked as the tide is yet to completely go out? If it don't make dollars, it don't make sense
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Rank: Veteran Joined: 8/10/2014 Posts: 992 Location: Kenya
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Ericsson wrote:watesh wrote:Angelica _ann wrote:Ericsson wrote:The biggest loss in the history of the company Why the big loss, contributed by? Last year there was a gain in disposal (Almasi)of about Ksh12bn recognized in the consolidated income statement and the sales by Almasi of ksh4 bn were still being consolidated into the statement. These were not present in the current financial year. There has also been an uptick of losses in some associates and joint ventures (Two Rivers, Sabis, Nas Servair),some of them were not in operation after covid measures kicked in. The rest of the items are largely similar apart from the decrease in interest cost. Personally, I never look at the consolidated income statement since these are many companies in different industries and shareholding being consolidated together. I look at the company statement to see what comes back as dividend, interest income and gains in disposal of assets. This is what will determine whether I get a dividend or not. To reverse that loss into a profit and pay dividend is a tall order. The next asset to be disposed I see is Sidian bank From what I understood (I may be wrong), there is a lot of liquidity coming in from the real estate business but it isn't flowing through the company's income statement. So when Centum Re pays the parent company Centum the money comes in as debt repayment of the shareholder loans rather than dividends (They didn't input a lot of share capital to the subsidiary but lent money). It is visible in the company's cash flow statement. The CEO indicated this is enough to sustain the dividend. Sidian for now is still lagging behind as compared to its peer of similar size which is Credit Bank. It may not fetch a good market price.
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Is it the right time to buy CENTUM?
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