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Kenya Power FY 2017/2018
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Ericsson
#1 Posted : Saturday, October 20, 2018 1:28:34 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,639
Location: NAIROBI
--Profit warning on Today's Nation Newspaper.
Now let's wait for the figures next week.
Link as below;

https://pbs.twimg.com/media/Dp8Uo-LW4AAATU_.jpg

Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Angelica _ann
#2 Posted : Saturday, October 20, 2018 1:35:45 PM
Rank: Elder


Joined: 12/7/2012
Posts: 11,901
This was obvious. 'We' had given our own profit warning kitambo sana hapa wazua.
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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tandich
#3 Posted : Saturday, October 20, 2018 1:38:42 PM
Rank: Member


Joined: 5/6/2008
Posts: 199
How can they only realise now that earnings for the year to June will be 25% less. Don't they have management accounts? CMA and Shareholders need to stop tolerating such incompetence and fraud.
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ombaalbt
#4 Posted : Saturday, October 20, 2018 5:01:07 PM
Rank: New-farer


Joined: 5/19/2014
Posts: 68
Location: Migori
tandich wrote:
How can they only realise now that earnings for the year to June will be 25% less. Don't they have management accounts? CMA and Shareholders need to stop tolerating such incompetence and fraud.



CMA are not very quick to enforce regulations. I wish we could have a body like the SEC
Look at the CMA enforcement report below very little being done


Investigations and Enforcement
Date of enforcement action Licensee Breach Enforcement action taken
1

2.10.2017
Bid Plantation Ltd

Wash trades conducted on Eaagads Shares counter on 23rd and 24th February 2017




Regulatory warning and financial penalty of Kshs 30,850.
2 12.02.2018 Kenya Orchards Ltd

failure to publish interim financial statements for half year ending June 2017 in two newspapers of national circulation




Financial penalty of Kshs 220,000
3 23.02.2018

Mr. Kumar Sheth


Market manipulation of Nairobi Business Ventures Ltd shares




Warning and a financial penalty of Kshs 50,000.
4 8.03.2018 East African Portland Cement Plc Failure to publish a profit warning in respect of financial results for the year ending 30th June 2017.

Financial penalty of Kshs 50,000 for failure to issue a profit warning and regulatory directive to submit plan within 3 months setting out how they want to deal with negative working capital.
Learning to sit on my hands
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obiero
#5 Posted : Saturday, October 20, 2018 5:37:46 PM
Rank: Elder


Joined: 6/23/2009
Posts: 13,475
Location: nairobi
ombaalbt wrote:
tandich wrote:
How can they only realise now that earnings for the year to June will be 25% less. Don't they have management accounts? CMA and Shareholders need to stop tolerating such incompetence and fraud.



CMA are not very quick to enforce regulations. I wish we could have a body like the SEC
Look at the CMA enforcement report below very little being done


Investigations and Enforcement
Date of enforcement action Licensee Breach Enforcement action taken
1

2.10.2017
Bid Plantation Ltd

Wash trades conducted on Eaagads Shares counter on 23rd and 24th February 2017




Regulatory warning and financial penalty of Kshs 30,850.
2 12.02.2018 Kenya Orchards Ltd

failure to publish interim financial statements for half year ending June 2017 in two newspapers of national circulation




Financial penalty of Kshs 220,000
3 23.02.2018

Mr. Kumar Sheth


Market manipulation of Nairobi Business Ventures Ltd shares




Warning and a financial penalty of Kshs 50,000.
4 8.03.2018 East African Portland Cement Plc Failure to publish a profit warning in respect of financial results for the year ending 30th June 2017.

Financial penalty of Kshs 50,000 for failure to issue a profit warning and regulatory directive to submit plan within 3 months setting out how they want to deal with negative working capital.

Jokers paradise

HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
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mlennyma
#6 Posted : Saturday, October 20, 2018 11:31:42 PM
Rank: Elder


Joined: 7/21/2010
Posts: 6,175
Location: nairobi
Ericsson wrote:
--Profit warning on Today's Nation Newspaper.
Now let's wait for the figures next week.
Link as below;

https://pbs.twimg.com/media/Dp8Uo-LW4AAATU_.jpg


crap,just tell us corruption will kill kpl
"Don't let the fear of losing be greater than the excitement of winning."
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guru267
#7 Posted : Sunday, October 21, 2018 12:01:29 AM
Rank: Elder


Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
tandich wrote:
How can they only realise now that earnings for the year to June will be 25% less. Don't they have management accounts? CMA and Shareholders need to stop tolerating such incompetence and fraud.


NSE companies can legally announce a profit warning at least 24 hours before they release results. Blame the law not the CMA
Mark 12:29
Deuteronomy 4:16
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obiero
#8 Posted : Sunday, October 21, 2018 4:07:02 AM
Rank: Elder


Joined: 6/23/2009
Posts: 13,475
Location: nairobi
guru267 wrote:
tandich wrote:
How can they only realise now that earnings for the year to June will be 25% less. Don't they have management accounts? CMA and Shareholders need to stop tolerating such incompetence and fraud.


NSE companies can legally announce a profit warning at least 24 hours before they release results. Blame the law not the CMA

Sad. In this case, the 24hrs run over a weekend. Meaning an investor is a sitting duck, waiting for the slaughter on 22.10.2018

HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
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Fyatu
#9 Posted : Sunday, October 21, 2018 1:52:35 PM
Rank: Veteran


Joined: 1/20/2011
Posts: 1,820
Location: Nakuru
I wager that even with reduced profits Kenya power will still report a PAT of over 2 billion
Dumb money becomes dumb only when it listens to smart money
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tandich
#10 Posted : Sunday, October 21, 2018 1:54:57 PM
Rank: Member


Joined: 5/6/2008
Posts: 199
guru267 wrote:
tandich wrote:
How can they only realise now that earnings for the year to June will be 25% less. Don't they have management accounts? CMA and Shareholders need to stop tolerating such incompetence and fraud.


NSE companies can legally announce a profit warning at least 24 hours before they release results. Blame the law not the CMA


Surely they can’t have only realized this on Friday for a year ended in June 2018| The 24 hours is based on realization by management, not publishing.

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obiero
#11 Posted : Sunday, October 21, 2018 2:25:14 PM
Rank: Elder


Joined: 6/23/2009
Posts: 13,475
Location: nairobi
tandich wrote:
guru267 wrote:
tandich wrote:
How can they only realise now that earnings for the year to June will be 25% less. Don't they have management accounts? CMA and Shareholders need to stop tolerating such incompetence and fraud.


NSE companies can legally announce a profit warning at least 24 hours before they release results. Blame the law not the CMA


Surely they can’t have only realized this on Friday for a year ended in June 2018| The 24 hours is based on realization by management, not publishing.


I don't like seeing such screenshots. Remind me of the Open Offer fiasco at KQ

HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
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sparkly
#12 Posted : Sunday, October 21, 2018 4:55:34 PM
Rank: Elder


Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
obiero wrote:
tandich wrote:
guru267 wrote:
tandich wrote:
How can they only realise now that earnings for the year to June will be 25% less. Don't they have management accounts? CMA and Shareholders need to stop tolerating such incompetence and fraud.


NSE companies can legally announce a profit warning at least 24 hours before they release results. Blame the law not the CMA


Surely they can’t have only realized this on Friday for a year ended in June 2018| The 24 hours is based on realization by management, not publishing.


I don't like seeing such screenshots. Remind me of the Open Offer fiasco at KQ


Cytonn ranked Kenya Power ranked No. 6/47 in Corporate Governance compliance. Standards must be really low.
Life is short. Live passionately.
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Angelica _ann
#13 Posted : Sunday, October 21, 2018 7:37:30 PM
Rank: Elder


Joined: 12/7/2012
Posts: 11,901
sparkly wrote:
obiero wrote:
tandich wrote:
guru267 wrote:
tandich wrote:
How can they only realise now that earnings for the year to June will be 25% less. Don't they have management accounts? CMA and Shareholders need to stop tolerating such incompetence and fraud.


NSE companies can legally announce a profit warning at least 24 hours before they release results. Blame the law not the CMA


Surely they can’t have only realized this on Friday for a year ended in June 2018| The 24 hours is based on realization by management, not publishing.


I don't like seeing such screenshots. Remind me of the Open Offer fiasco at KQ


Cytonn ranked Kenya Power ranked No. 6/47 in Corporate Governance compliance. Standards must be really low.


To be fair to Cytonn, this had not happened & therefore will inform the next assessment cycle.

Though I thought there is a flaw in their assessment tool. BAT was ranked lower than some usual suspects which looked not right.
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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Ericsson
#14 Posted : Sunday, October 21, 2018 8:18:35 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,639
Location: NAIROBI
Angelica _ann wrote:
sparkly wrote:
obiero wrote:
tandich wrote:
guru267 wrote:
tandich wrote:
How can they only realise now that earnings for the year to June will be 25% less. Don't they have management accounts? CMA and Shareholders need to stop tolerating such incompetence and fraud.


NSE companies can legally announce a profit warning at least 24 hours before they release results. Blame the law not the CMA


Surely they can’t have only realized this on Friday for a year ended in June 2018| The 24 hours is based on realization by management, not publishing.


I don't like seeing such screenshots. Remind me of the Open Offer fiasco at KQ


Cytonn ranked Kenya Power ranked No. 6/47 in Corporate Governance compliance. Standards must be really low.


To be fair to Cytonn, this had not happened & therefore will inform the next assessment cycle.

Though I thought there is a flaw in their assessment tool. BAT was ranked lower than some usual suspects which looked not right.


Kenya power is turning over a new chapter.
The previous management under arap singh cronies has brought it to its knees
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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VituVingiSana
#15 Posted : Sunday, October 21, 2018 8:50:51 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,053
Location: Nairobi
Arap Mashamba is taking a break. Atarudi.
Which worries me about KenRe.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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limanika
#16 Posted : Sunday, October 21, 2018 9:05:36 PM
Rank: Veteran


Joined: 9/21/2011
Posts: 2,032
Ericsson wrote:
Angelica _ann wrote:
sparkly wrote:
obiero wrote:
tandich wrote:
guru267 wrote:
tandich wrote:
How can they only realise now that earnings for the year to June will be 25% less. Don't they have management accounts? CMA and Shareholders need to stop tolerating such incompetence and fraud.


NSE companies can legally announce a profit warning at least 24 hours before they release results. Blame the law not the CMA


Surely they can’t have only realized this on Friday for a year ended in June 2018| The 24 hours is based on realization by management, not publishing.


I don't like seeing such screenshots. Remind me of the Open Offer fiasco at KQ


Cytonn ranked Kenya Power ranked No. 6/47 in Corporate Governance compliance. Standards must be really low.


To be fair to Cytonn, this had not happened & therefore will inform the next assessment cycle.

Though I thought there is a flaw in their assessment tool. BAT was ranked lower than some usual suspects which looked not right.


Kenya power is turning over a new chapter.
The previous management under arap singh cronies has brought it to its knees

Last time i checked there hasn't been cabinet reshuffle so he's still in charge.
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Superprime1
#17 Posted : Monday, October 22, 2018 12:00:10 PM
Rank: Member


Joined: 5/2/2018
Posts: 267
ombaalbt wrote:
tandich wrote:
How can they only realise now that earnings for the year to June will be 25% less. Don't they have management accounts? CMA and Shareholders need to stop tolerating such incompetence and fraud.



CMA are not very quick to enforce regulations. I wish we could have a body like the SEC
Look at the CMA enforcement report below very little being done


Investigations and Enforcement
Date of enforcement action Licensee Breach Enforcement action taken
1

2.10.2017
Bid Plantation Ltd

Wash trades conducted on Eaagads Shares counter on 23rd and 24th February 2017




Regulatory warning and financial penalty of Kshs 30,850.
2 12.02.2018 Kenya Orchards Ltd

failure to publish interim financial statements for half year ending June 2017 in two newspapers of national circulation




Financial penalty of Kshs 220,000
3 23.02.2018

Mr. Kumar Sheth


Market manipulation of Nairobi Business Ventures Ltd shares




Warning and a financial penalty of Kshs 50,000.
4 8.03.2018 East African Portland Cement Plc Failure to publish a profit warning in respect of financial results for the year ending 30th June 2017.

Financial penalty of Kshs 50,000 for failure to issue a profit warning and regulatory directive to submit plan within 3 months setting out how they want to deal with negative working capital.


So long as penalties are this friendly, the rules will always be flouted.

Issuing a profit warning this late is as good as not issuing one at all. CMA is a joke of a regulator. Perhaps the DPP should look into this?(pun-intended)
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muandiwambeu
#18 Posted : Monday, October 22, 2018 12:20:23 PM
Rank: Veteran


Joined: 8/28/2015
Posts: 1,247
Fyatu wrote:
I wager that even with reduced profits Kenya power will still report a PAT of over 2 billion

Very expectant of Fyatu, I wager you planted a seed here.
,Behold, a sower went forth to sow;....
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Ebenyo
#19 Posted : Monday, October 22, 2018 12:30:14 PM
Rank: Veteran


Joined: 4/4/2016
Posts: 1,996
Location: Kitale
VituVingiSana wrote:
Arap Mashamba is taking a break. Atarudi.
Which worries me about KenRe.


We need to research as to which companies were doing well during mtukufu rais moi regime especially here in NSE.
Towards the goal of financial freedom
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Ericsson
#20 Posted : Monday, October 22, 2018 12:34:18 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,639
Location: NAIROBI
Ebenyo wrote:
VituVingiSana wrote:
Arap Mashamba is taking a break. Atarudi.
Which worries me about KenRe.


We need to research as to which companies were doing well during mtukufu rais moi regime especially here in NSE.


Now let's wait for the figures
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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