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KenolKobil HY 2017 profit before tax up 20%
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murchr
#1 Posted : Wednesday, August 02, 2017 6:50:52 PM
Rank: Elder


Joined: 2/26/2012
Posts: 15,979
(Reuters) wrote:
Aug 2 - KENOLKOBIL LTD:

* HY ENDED JUNE 2017 SALES 72.64 BILLION SHILLINGS VERSUS 39.94 BILLION SHILLINGS YEAR AGO

* HY ENDED JUNE 2017 PROFIT BEFORE TAX OF 2.08 BILLION SHILLINGS VERSUS 1.73 BILLION SHILLINGS YEAR AGO

* SAYS DECLARED INTERIM DIVIDEND OF 0.30 SHILLINGS PER SHARE, PAYABLE ON OR AROUND OCT 1, 2017 Further company coverage: (Bangalore.newsroom@thomsonreuters.com)
"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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obiero
#2 Posted : Wednesday, August 02, 2017 8:26:27 PM
Rank: Elder


Joined: 6/23/2009
Posts: 13,475
Location: nairobi
murchr wrote:
(Reuters) wrote:
Aug 2 - KENOLKOBIL LTD:

* HY ENDED JUNE 2017 SALES 72.64 BILLION SHILLINGS VERSUS 39.94 BILLION SHILLINGS YEAR AGO

* HY ENDED JUNE 2017 PROFIT BEFORE TAX OF 2.08 BILLION SHILLINGS VERSUS 1.73 BILLION SHILLINGS YEAR AGO

* SAYS DECLARED INTERIM DIVIDEND OF 0.30 SHILLINGS PER SHARE, PAYABLE ON OR AROUND OCT 1, 2017 Further company coverage: (Bangalore.newsroom@thomsonreuters.com)


All that increase in sales has come to nought
..

HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
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muganda
#3 Posted : Wednesday, August 02, 2017 9:08:13 PM
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alotoftalk
#4 Posted : Wednesday, August 02, 2017 10:22:29 PM
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Joined: 8/27/2015
Posts: 138
Location: Harare
muganda wrote:


http://www.kenolkobil.com/uploa...lf_year_results_2017.pdf


The Kenyan petroleum marketing business is a financing play and KK has mastered it. Taken advantage of lower oil prices and lower interest rates to ramped up sales while cutting down debt and finance costs. Great set of results.
Investment philosophy development in progress...
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mlennyma
#5 Posted : Wednesday, August 02, 2017 10:34:46 PM
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Joined: 7/21/2010
Posts: 6,175
Location: nairobi
alotoftalk wrote:
muganda wrote:


http://www.kenolkobil.com/uploa...lf_year_results_2017.pdf


The Kenyan petroleum marketing business is a financing play and KK has mastered it. Taken advantage of lower oil prices and lower interest rates to ramped up sales while cutting down debt and finance costs. Great set of results.

some 300million for kprl set aside na bado tunakula 30cts which is comfortable eps of 1bob at half year
"Don't let the fear of losing be greater than the excitement of winning."
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Realtreaty
#6 Posted : Wednesday, August 02, 2017 11:55:56 PM
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Joined: 8/16/2011
Posts: 2,260
Applause Applause Applause Applause Applause Pray Pray Pray Pray
After a good Voting and bringing back the govt that is helping growth KK will be a share to reckon with.
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VituVingiSana
#7 Posted : Thursday, August 03, 2017 12:22:43 AM
Rank: Chief


Joined: 1/3/2007
Posts: 18,055
Location: Nairobi
obiero wrote:
murchr wrote:
(Reuters) wrote:
Aug 2 - KENOLKOBIL LTD:

* HY ENDED JUNE 2017 SALES 72.64 BILLION SHILLINGS VERSUS 39.94 BILLION SHILLINGS YEAR AGO

* HY ENDED JUNE 2017 PROFIT BEFORE TAX OF 2.08 BILLION SHILLINGS VERSUS 1.73 BILLION SHILLINGS YEAR AGO

* SAYS DECLARED INTERIM DIVIDEND OF 0.30 SHILLINGS PER SHARE, PAYABLE ON OR AROUND OCT 1, 2017 Further company coverage: (Bangalore.newsroom@thomsonreuters.com)


All that increase in sales has come to nought
..

Laughing out loudly Laughing out loudly Laughing out loudly Jealous much?
KK will pay more in a single interim dividend on a single share than KQ has made in profits in 5 years! Applause Applause Applause

And this profit is AFTER providing 300mn for KPRL and other legal costs/payouts. Drool Drool Drool Sweeter stuff coming in 2H 2017.

Banks want to lend KK money unlike KQ using GoK to arm-twist banks into lending money! Laughing out loudly Laughing out loudly Laughing out loudly
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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mlennyma
#8 Posted : Thursday, August 03, 2017 6:47:29 AM
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Joined: 7/21/2010
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Location: nairobi
VituVingiSana wrote:
obiero wrote:
murchr wrote:
(Reuters) wrote:
Aug 2 - KENOLKOBIL LTD:

* HY ENDED JUNE 2017 SALES 72.64 BILLION SHILLINGS VERSUS 39.94 BILLION SHILLINGS YEAR AGO

* HY ENDED JUNE 2017 PROFIT BEFORE TAX OF 2.08 BILLION SHILLINGS VERSUS 1.73 BILLION SHILLINGS YEAR AGO

* SAYS DECLARED INTERIM DIVIDEND OF 0.30 SHILLINGS PER SHARE, PAYABLE ON OR AROUND OCT 1, 2017 Further company coverage: (Bangalore.newsroom@thomsonreuters.com)


All that increase in sales has come to nought
..

Laughing out loudly Laughing out loudly Laughing out loudly Jealous much?
KK will pay more in a single interim dividend on a single share than KQ has made in profits in 5 years! Applause Applause Applause

And this profit is AFTER providing 300mn for KPRL and other legal costs/payouts. Drool Drool Drool Sweeter stuff coming in 2H 2017.

Banks want to lend KK money unlike KQ using GoK to arm-twist banks into lending money! Laughing out loudly Laughing out loudly Laughing out loudly

that man who won the pangani legal tussle was paid and still no major impact and the amount was almost the equivalent of the kprl provision they have made...we were paid 30cts recently and now another 30cts and still expect atleast 40 cts year end
"Don't let the fear of losing be greater than the excitement of winning."
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VituVingiSana
#9 Posted : Thursday, August 03, 2017 8:23:14 AM
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Joined: 1/3/2007
Posts: 18,055
Location: Nairobi
So @miennyma - KK could have had almost 1.8bn in PAT [300mn KPRL + 300mn Pangani]
There may be a KPRL amount left to write-off in 2H but it looks good!
FY EPS even with the write-offs could exceed 2/-.

If GoK settles the KPRL yield shift losses for the industry after the elections or in 2018-19, then that's just extra cream on the cake! Total has sued GoK/KPRL, KPRL has tanks/land it can sell to KPC and the industry will pressurize KPRL/GoK to settle this.

Doesn't KPC also owe KK 6bn+ awarded to KK in an arbitration? This matter is slowly winding itself through the courts. Perhaps another 2 years?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Aguytrying
#10 Posted : Thursday, August 03, 2017 9:37:27 AM
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Joined: 7/11/2010
Posts: 5,040
VituVingiSana wrote:
So @miennyma - KK could have had almost 1.8bn in PAT [300mn KPRL + 300mn Pangani]
There may be a KPRL amount left to write-off in 2H but it looks good!
FY EPS even with the write-offs could exceed 2/-.

If GoK settles the KPRL yield shift losses for the industry after the elections or in 2018-19, then that's just extra cream on the cake! Total has sued GoK/KPRL, KPRL has tanks/land it can sell to KPC and the industry will pressurize KPRL/GoK to settle this.

Doesn't KPC also owe KK 6bn+ awarded to KK in an arbitration? This matter is slowly winding itself through the courts. Perhaps another 2 years?


Excellent performance. An eps of 2.00 will definitely translate to 20 bob per share. We've been patient and the rewards keep coming
The investor's chief problem - and even his worst enemy - is likely to be himself
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VituVingiSana
#11 Posted : Thursday, August 03, 2017 9:38:53 AM
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Joined: 1/3/2007
Posts: 18,055
Location: Nairobi
Aguytrying wrote:
VituVingiSana wrote:
So @miennyma - KK could have had almost 1.8bn in PAT [300mn KPRL + 300mn Pangani]
There may be a KPRL amount left to write-off in 2H but it looks good!
FY EPS even with the write-offs could exceed 2/-.

If GoK settles the KPRL yield shift losses for the industry after the elections or in 2018-19, then that's just extra cream on the cake! Total has sued GoK/KPRL, KPRL has tanks/land it can sell to KPC and the industry will pressurize KPRL/GoK to settle this.

Doesn't KPC also owe KK 6bn+ awarded to KK in an arbitration? This matter is slowly winding itself through the courts. Perhaps another 2 years?


Excellent performance. An eps of 2.00 will definitely translate to 20 bob per share. We've been patient and the rewards keep coming

Perhaps a takeover? [Though I am happy with the current status too!]
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Ericsson
#12 Posted : Thursday, August 03, 2017 10:26:25 AM
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Joined: 12/4/2009
Posts: 10,639
Location: NAIROBI
KK should do an acquisition of an oil firm rival.They are doing well and the owners reaping benefits.
Don't see the need of the owners selling the business.
David Ohana is doing a good job
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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mlennyma
#13 Posted : Thursday, August 03, 2017 11:42:01 AM
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Joined: 7/21/2010
Posts: 6,175
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Ericsson wrote:
KK should do an acquisition of an oil firm rival.They are doing well and the owners reaping benefits.
Don't see the need of the owners selling the business.
David Ohana is doing a good job

He is the top earning CEO in kenya. .not even safaricom
"Don't let the fear of losing be greater than the excitement of winning."
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winston
#14 Posted : Thursday, August 03, 2017 2:46:22 PM
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Joined: 4/14/2010
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Kudos...almost doubling top line!
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Gatheuzi
#15 Posted : Thursday, August 03, 2017 8:44:36 PM
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Joined: 8/16/2009
Posts: 994
winston wrote:
Kudos...almost doubling top line!

Topline has more to do with rise in oil prices, though volumes could also be up.
Time is money, so money is time. Money saved is time gained in reverse! Money stores your life’s energy. You expend your energy, get paid money, and store that money for a future purchase made in a currency.
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winston
#16 Posted : Friday, August 04, 2017 9:12:02 AM
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Posts: 806
Location: Nairobi
Gatheuzi wrote:
winston wrote:
Kudos...almost doubling top line!

Topline has more to do with rise in oil prices, though volumes could also be up.


True...if prices didnt double...then they also grew volumes
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h2s
#17 Posted : Friday, August 04, 2017 10:34:19 AM
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mlennyma
#18 Posted : Friday, August 04, 2017 2:30:02 PM
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Posts: 6,175
Location: nairobi
h2s wrote:
Kenol to write off Sh1.8bn KPRL debt by December

This story sounds like a puma condition
"Don't let the fear of losing be greater than the excitement of winning."
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winston
#19 Posted : Friday, August 04, 2017 2:39:20 PM
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mlennyma wrote:
h2s wrote:
Kenol to write off Sh1.8bn KPRL debt by December

This story sounds like a puma condition


What about the other side of the story 'The KPRL made a counterclaim of Sh1.2 billion from the oil marketer for allegedly defaulting on payment for petroleum products, leading to a stalemate'

Did KPRL also writeoff?
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VituVingiSana
#20 Posted : Friday, August 04, 2017 2:48:44 PM
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winston wrote:
mlennyma wrote:
h2s wrote:
Kenol to write off Sh1.8bn KPRL debt by December

This story sounds like a puma condition


What about the other side of the story 'The KPRL made a counterclaim of Sh1.2 billion from the oil marketer for allegedly defaulting on payment for petroleum products, leading to a stalemate'

Did KPRL also writeoff?

A write-off by KK doesn't mean they have given up on the claim from KPRL. They are cleaning the books but I expect a global settlement to happen in the future and KK will "write-back" the amount.

As for KPRL's claim, if they succeed then they can offset it vs what they owe KK.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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