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mukiha
#1 Posted : Wednesday, January 13, 2010 1:16:05 PM
Rank: Elder

Joined: 6/27/2008
Posts: 4,114
39% drop in PBT....even after the Passat deal.

42% drop in EPS

But not to worry....don't sell in panic.....the Passats accounted for ONLY about 10% of sales. Without them, the results would have been just marginally lower.

Truly; I don't understand what the panic selling was all about. After all, the company issued a profit warning last month so any price adjustment should have taken place at that time.

I give it a few weeks and we'll be looking at 13++ In the meantime, if you have spare cash, it remains a good buy.

But; hey; you know I have romantic feelings about this girl!!!!
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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VituVingiSana
#2 Posted : Wednesday, January 13, 2010 1:52:50 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,348
Location: Nairobi
I agree... CMC remains Kenya's #1 vehicle dealer & has exposure to UG & TZ as well. The rains should boost sales of farm equipment as well.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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xtina
#3 Posted : Wednesday, January 13, 2010 2:18:45 PM
Rank: Member

Joined: 6/26/2008
Posts: 399
Good to hear some positive comments on this stocksmile
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the deal
#4 Posted : Wednesday, January 13, 2010 2:30:32 PM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
@ mukiha hehehehe i see panic buttons being pushed there...my advice is stay away from them car sellers atleast until the economy is running at full steam....
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the deal
#5 Posted : Wednesday, January 13, 2010 2:33:10 PM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
@ mukiha hehehehe i see panic buttons being pushed there...my advice is stay away from them car sellers atleast until the economy is running at full steam....
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VituVingiSana
#6 Posted : Wednesday, January 13, 2010 3:09:50 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,348
Location: Nairobi
@thedeal @mukiha I think CMC is a well-run firm & will be OK going forward.

Spoke to my banker today who said... they have approved lots of loan applications in 4Q 2009 & will release funds in 1Q 2010. Many of these loan applications were from 2Q & 3Q but were 'held up' since the bank was 'collecting' on loans rather than making new loans.

Sorta short-sighted but what can I say?

So for CMC, banks will start lending... and more vehicles may be sold...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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mukiha
#7 Posted : Thursday, January 14, 2010 8:07:20 AM
Rank: Elder

Joined: 6/27/2008
Posts: 4,114
the deal wrote:
@ mukiha hehehehe i see panic buttons being pushed there...my advice is stay away from them car sellers atleast until the economy is running at full steam....


By that time, it could be too late....
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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mukiha
#8 Posted : Friday, January 15, 2010 12:31:46 PM
Rank: Elder

Joined: 6/27/2008
Posts: 4,114
See what I meant... closed at 11.40 today ... and it touched 11.50 at one point.
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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the deal
#9 Posted : Sunday, January 17, 2010 8:38:22 AM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
@mukiha cmc is trading cum div...once it trades ex div the price dip below 11 mayb around 10.20...thats were i will come in ofcourse i might be wrong...
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Wa_ithaka
#10 Posted : Sunday, January 17, 2010 1:32:50 PM
Rank: Veteran

Joined: 1/7/2010
Posts: 1,279
Location: nbi
Tough yr for most stocks, but CMC has compe from car dealers and thus is not slowing down. If anything, its growing...
The Governor of Nyeri - 2017
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