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Centum Full Year results 2017/2018
littledove
#1 Posted : Wednesday, June 13, 2018 9:18:46 AM
Rank: Member


Joined: 7/1/2014
Posts: 631
Location: sky
highlights
-Despite the challenging environment; @Centum_Inv has recorded positive cash flows with KES 4.3Billion from it's own operations.
-Dividend maintained at KES 1.20 per share, despite drop in PAT
-Decline in profitability is attributed to lower realized gains as recognition of GenAfrica disposal gains was deferred to FY 2019. Had the gains been booked, the company would have recorded 42% profit increase.
-total company assets increased by 7% to KES 66 Billion
-NAV of Centum shares at KES 73.20
There are only two emotions in the stock market, fear and hope. The problem is, you hope when you should fear and fear when you should hope
Ericsson
#2 Posted : Wednesday, June 13, 2018 9:21:35 AM
Rank: Elder


Joined: 12/4/2009
Posts: 5,669
Location: NAIROBI
Full year pretax profit drops by 64 pc, says Kenya's Centum Investment

Centum said in a statement its pretax profit dropped to 3.15 billion shillings ($31.16 million) from 8.74 billion shillings a year earlier.

It said the drop in profits was also attributed to a 2.3 billion shilling or 35 percent drop year-on-year of its fair value gain on its investment properties.
sparkly
#3 Posted : Wednesday, June 13, 2018 9:29:11 AM
Rank: Elder


Joined: 9/23/2009
Posts: 6,428
Location: Enk are Nyirobi
Ericsson wrote:
Full year pretax profit drops by 64 pc, says Kenya's Centum Investment

Centum said in a statement its pretax profit dropped to 3.15 billion shillings ($31.16 million) from 8.74 billion shillings a year earlier.

It said the drop in profits was also attributed to a 2.3 billion shilling or 35 percent drop year-on-year of its fair value gain on its investment properties.


Waiting for @Obiero to rubbish these poor results smile
Life is short. Live passionately.
madebe
#4 Posted : Wednesday, June 13, 2018 10:10:34 AM
Rank: Member


Joined: 10/7/2010
Posts: 251
Location: nairobi
anybody with the full presentation asambaze...
muganda
#5 Posted : Wednesday, June 13, 2018 12:45:32 PM
Rank: Elder


Joined: 9/15/2006
Posts: 3,835
madebe wrote:
anybody with the full presentation asambaze...

Sure feels like everything went down (apart from their quoted NAV) https://www.nse.co.ke/li...r-ended-31st-march-2018

costs up
trading profit down
income from financial services down
share of associates profit down
profit before tax down
earnings per share down

Ericsson
#6 Posted : Wednesday, June 13, 2018 12:49:47 PM
Rank: Elder


Joined: 12/4/2009
Posts: 5,669
Location: NAIROBI
Borrowings too went up from ksh.20.9bn to 24.4bn

For more results and analysis
http://www.centum.co.ke/...Audited_Results_FY18.pdf
VituVingiSana
#7 Posted : Wednesday, June 13, 2018 1:01:24 PM
Rank: Chief


Joined: 1/3/2007
Posts: 14,908
Location: Nairobi
What I heard but I need to re-watch the presentation
- GenAfrica sale will be completed in 1H so cash will reduce debt
- Sales of properties ongoing at Pearl, Two Rivers and Rea but this will take some time
- Debt:Equity has reduced y-o-y
- There’s are more “value uplifts” coming as businesses mature
- Sidian is on the mend but there’s work to be done
- Amu is on. Delayed but on. $1.5bn debt secured.

I need to go through the presentation and Annual Report with a fine tooth comb
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ericsson
#8 Posted : Wednesday, June 13, 2018 1:03:56 PM
Rank: Elder


Joined: 12/4/2009
Posts: 5,669
Location: NAIROBI
VituVingiSana wrote:
What I heard but I need to re-watch the presentation
- GenAfrica sale will be completed in 1H so cash will reduce debt--Mmmh
- Sales of properties ongoing at Pearl, Two Rivers and Rea but this will take some time--Long time with Jubilee policies

- Debt:Equity has reduced y-o-y
- There’s are more “value uplifts” coming as businesses mature--Give examples
- Sidian is on the mend but there’s work to be done
- Amu is on. Delayed but on. $1.5bn debt secured.

I need to go through the presentation and Annual Report with a fine tooth comb


Kabisa ili usidanganywe
Angelica _ann
#9 Posted : Wednesday, June 13, 2018 1:59:40 PM
Rank: Elder


Joined: 12/7/2012
Posts: 9,525
Decline in profitability is attributed to lower realized gains as recognition of GenAfrica disposal gains was deferred to FY 2019. Had the gains been booked, the company would have recorded 42% profit increase.


So they are trying to use one transaction for 2 financial years, smile
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
Ericsson
#10 Posted : Thursday, June 14, 2018 9:49:46 AM
Rank: Elder


Joined: 12/4/2009
Posts: 5,669
Location: NAIROBI
Angelica _ann wrote:
Decline in profitability is attributed to lower realized gains as recognition of GenAfrica disposal gains was deferred to FY 2019. Had the gains been booked, the company would have recorded 42% profit increase.


So they are trying to use one transaction for 2 financial years, smile


GenAfrica disposal gains deliberately deferred so that HY 18/19 looks good.
Ebenyo
#11 Posted : Thursday, June 14, 2018 11:16:32 AM
Rank: Veteran


Joined: 4/4/2016
Posts: 1,368
Location: Kitale
These guys sometimes makes decisions which doesnt add value.
They sold platinum credit service which was making profit and pumped the money into loss making sidian bank.
Then they ordered Longhorn publishers to sell its head office so that they get the cash.
Towards the goal of financial freedom
Angelica _ann
#12 Posted : Thursday, June 14, 2018 12:05:54 PM
Rank: Elder


Joined: 12/7/2012
Posts: 9,525
Ericsson wrote:
Angelica _ann wrote:
Decline in profitability is attributed to lower realized gains as recognition of GenAfrica disposal gains was deferred to FY 2019. Had the gains been booked, the company would have recorded 42% profit increase.


So they are trying to use one transaction for 2 financial years, smile


GenAfrica disposal gains deliberately deferred so that HY 18/19 looks good.


I know but you can see the 42% comment has been planted in the financials for this year - therefore serve two periods - is also trying to show 2017/18 was to that level which it is not. Ukora, time will tell.
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
Ericsson
#13 Posted : Thursday, June 14, 2018 12:09:53 PM
Rank: Elder


Joined: 12/4/2009
Posts: 5,669
Location: NAIROBI
Ebenyo wrote:
These guys sometimes makes decisions which doesnt add value.
They sold platinum credit service which was making profit and pumped the money into loss making sidian bank.
Then they ordered Longhorn publishers to sell its head office so that they get the cash.


At one time they had a 7% stake in KCB.
The rest is history.
RIEK01
#14 Posted : Thursday, June 14, 2018 12:51:37 PM
Rank: New-farer


Joined: 2/8/2018
Posts: 43
If a decision does not add value or make sense, chances are that it's an under the table deal.it's like you selling your KCB/Equity bank shares to buy NBK.
sparkly
#15 Posted : Thursday, June 14, 2018 4:41:13 PM
Rank: Elder


Joined: 9/23/2009
Posts: 6,428
Location: Enk are Nyirobi
RIEK01 wrote:
If a decision does not add value or make sense, chances are that it's an under the table deal.it's like you selliung your KCB/Equity bank shares to buy NBK.


Or KQ
Life is short. Live passionately.
Ebenyo
#16 Posted : Friday, June 22, 2018 5:30:53 PM
Rank: Veteran


Joined: 4/4/2016
Posts: 1,368
Location: Kitale
sparkly wrote:
RIEK01 wrote:
If a decision does not add value or make sense, chances are that it's an under the table deal.it's like you selliung your KCB/Equity bank shares to buy NBK.


Or KQ


Laughing out loudly Laughing out loudly
Towards the goal of financial freedom
Ericsson
#17 Posted : Saturday, June 23, 2018 11:56:14 PM
Rank: Elder


Joined: 12/4/2009
Posts: 5,669
Location: NAIROBI
Instead of putting money into Sidian bank,centum could have put the money for a stake in Java as private equity,Avenue hospitals etc.
But hey its kirubi calling the shots
VituVingiSana
#18 Posted : Friday, June 29, 2018 12:06:39 AM
Rank: Chief


Joined: 1/3/2007
Posts: 14,908
Location: Nairobi
Amu Power - Good stuff!
https://www.businessdail...24518-108vr0m/index.html
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ericsson
#19 Posted : Friday, July 06, 2018 12:54:14 PM
Rank: Elder


Joined: 12/4/2009
Posts: 5,669
Location: NAIROBI
http://estatecloud.co.ke...illion-industrial-park/

Listed investment firm Centum Plc has broken ground for the Sh.100 billion industrial park to be set up in Kilifi County. The new development will bring to size Centum’s real estate portfolio in the East African market which includes Pearl Marina in Uganda and Two Rivers Mall in Kenya.

The Vipingo Industrial Park project will cover an area of 10,254 acres of land in the Vipingo area of Kilifi County where currently large swathes of land roll over in neat rows of sisal plantations.

Centum Plc via its subsidiary, Vipingo Development Limited, intends to convert into a much sought after location. Kenneth Mbae, Vipingo Development Limited’s managing director said that the industrial park would be a mixed-use economic hub, integrating industrial, commercial, residential, hospitality and institutional uses.

The project has set aside 1,150 acres of serviced plots for manufacturing, warehousing, logistics and commercial developments and is offering them to investors at between Sh. 18million and Sh. 20million per acre.

According to Centum, the industrial park was conceived back in 2015 and a market survey completed two years ago. The groundbreaking is part of the projects timeline to begin work in 2018 according to the master plan.

Part of the 10,254 acres will be used to develop a 200-acre Vipingo Lifestyle City which will host a residential development, Vipingo Awali Estate. The development will also include a sea water desalination facility, shopping mall, school, hospital, church and a mosque.

“We are also looking into the affordable housing segment. We will have the Ridge Homes that will see the development of 1,200 units consisting of one-, two-, and three-bedroom apartments going for less than Sh4 million per unit,” Centum said in a statement.

Centum have already acquired an export processing zone status for the development that is located along the Mombasa-Malindi highway, which will enable tax incentives to licensed export processing companies. According to Centum, a number of local and international investors have expressed interest in setting up base in the area.
Angelica _ann
#20 Posted : Friday, July 06, 2018 1:20:38 PM
Rank: Elder


Joined: 12/7/2012
Posts: 9,525
Ericsson wrote:
http://estatecloud.co.ke/centum-to-begin-work-on-sh-100-billion-industrial-park/

Listed investment firm Centum Plc has broken ground for the Sh.100 billion industrial park to be set up in Kilifi County. The new development will bring to size Centum’s real estate portfolio in the East African market which includes Pearl Marina in Uganda and Two Rivers Mall in Kenya.

The Vipingo Industrial Park project will cover an area of 10,254 acres of land in the Vipingo area of Kilifi County where currently large swathes of land roll over in neat rows of sisal plantations.

Centum Plc via its subsidiary, Vipingo Development Limited, intends to convert into a much sought after location. Kenneth Mbae, Vipingo Development Limited’s managing director said that the industrial park would be a mixed-use economic hub, integrating industrial, commercial, residential, hospitality and institutional uses.

The project has set aside 1,150 acres of serviced plots for manufacturing, warehousing, logistics and commercial developments and is offering them to investors at between Sh. 18million and Sh. 20million per acre.

According to Centum, the industrial park was conceived back in 2015 and a market survey completed two years ago. The groundbreaking is part of the projects timeline to begin work in 2018 according to the master plan.

Part of the 10,254 acres will be used to develop a 200-acre Vipingo Lifestyle City which will host a residential development, Vipingo Awali Estate. The development will also include a sea water desalination facility, shopping mall, school, hospital, church and a mosque.

“We are also looking into the affordable housing segment. We will have the Ridge Homes that will see the development of 1,200 units consisting of one-, two-, and three-bedroom apartments going for less than Sh4 million per unit,” Centum said in a statement.

Centum have already acquired an export processing zone status for the development that is located along the Mombasa-Malindi highway, which will enable tax incentives to licensed export processing companies. According to Centum, a number of local and international investors have expressed interest in setting up base in the area.


To be sold in manageable pieces, great idea!!!
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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