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Flame Tree Group Buying Spree
Pesa Nane
#1 Posted : Tuesday, September 08, 2015 12:00:53 PM
Rank: Elder


Joined: 5/25/2012
Posts: 4,105
Location: 08c
Pesa Nane plans to be shilingi when he grows up.
Pesa Nane
#2 Posted : Tuesday, September 08, 2015 12:03:44 PM
Rank: Elder


Joined: 5/25/2012
Posts: 4,105
Location: 08c
Quote:
About Flame Tree Group

Flame Tree Group is a world class corporation in the heart of Africa developing and providing quality and affordable brands. We are a customer centric, results driven and forward thinking company. We build long term relationships with our customers, our people and our shareholders.

Flame Tree Group is listed under the Growth and Enterprise Market Segment (GEMS) on the Nairobi Securities Exchange (NSE) as NSE: FTGH
It has operations in Kenya, Rwanda, Ethiopia, Mauritius, Mozambique and Dubai. It operates in cosmetics, plastics and trading, with a brand portfolio that includes Roto Tanks, Jojo Plastics, Natures Own Spices, Chigs, Honeycomb, Gonuts, Happy’s, Zoe, Cerro, Alana Skin, Siora, and Buildmart. It was founded in
1989 and now employs over 1,000 people, who are focused on delivering quality, value and innovation to improve their customer’s lives.
Pesa Nane plans to be shilingi when he grows up.
Aguytrying
#3 Posted : Tuesday, September 08, 2015 12:57:13 PM
Rank: Elder


Joined: 7/11/2010
Posts: 5,023
Pesa Nane wrote:
Quote:
About Flame Tree Group

Flame Tree Group is a world class corporation in the heart of Africa developing and providing quality and affordable brands. We are a customer centric, results driven and forward thinking company. We build long term relationships with our customers, our people and our shareholders.

Flame Tree Group is listed under the Growth and Enterprise Market Segment (GEMS) on the Nairobi Securities Exchange (NSE) as NSE: FTGH
It has operations in Kenya, Rwanda, Ethiopia, Mauritius, Mozambique and Dubai. It operates in cosmetics, plastics and trading, with a brand portfolio that includes Roto Tanks, Jojo Plastics, Natures Own Spices, Chigs, Honeycomb, Gonuts, Happy’s, Zoe, Cerro, Alana Skin, Siora, and Buildmart. It was founded in
1989 and now employs over 1,000 people, who are focused on delivering quality, value and innovation to improve their customer’s lives.


It has triggered my buy price of below 7.00 but i still haven't pulled the trigger.
Should the many acquisitions worry potential investors?
This company has some healthy margins and churns out a tidy EPS
The investor's chief problem - and even his worst enemy - is likely to be himself
VituVingiSana
#4 Posted : Wednesday, September 09, 2015 1:01:59 AM
Rank: Chief


Joined: 1/3/2007
Posts: 16,685
Location: Nairobi
Aguytrying wrote:
Pesa Nane wrote:
Quote:
About Flame Tree Group

Flame Tree Group is a world class corporation in the heart of Africa developing and providing quality and affordable brands. We are a customer centric, results driven and forward thinking company. We build long term relationships with our customers, our people and our shareholders.

Flame Tree Group is listed under the Growth and Enterprise Market Segment (GEMS) on the Nairobi Securities Exchange (NSE) as NSE: FTGH
It has operations in Kenya, Rwanda, Ethiopia, Mauritius, Mozambique and Dubai. It operates in cosmetics, plastics and trading, with a brand portfolio that includes Roto Tanks, Jojo Plastics, Natures Own Spices, Chigs, Honeycomb, Gonuts, Happy’s, Zoe, Cerro, Alana Skin, Siora, and Buildmart. It was founded in
1989 and now employs over 1,000 people, who are focused on delivering quality, value and innovation to improve their customer’s lives.


It has triggered my buy price of below 7.00 but i still haven't pulled the trigger.
Should the many acquisitions worry potential investors?
This company has some healthy margins and churns out a tidy EPS

Looks cheap BUT
1) Lots of competition in the categories including food, beauty products and tanks. Each category has many competitors.
2) How is FTG financing the deals? [Some IPO cash but then debt?]

Pros: Growth areas as construction [tanks, plastics] increases in the region.
Food is food. Prepared foods market is growing. And we know as long as we like the ladies put on makeup...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
KulaRaha
#5 Posted : Wednesday, September 09, 2015 7:43:59 AM
Rank: Elder


Joined: 7/26/2007
Posts: 6,462
I just have a simple question: with all these acquisitions, do they have enough human assets to manage everything properly?
Business opportunities are like buses,there's always another one coming
Horton
#6 Posted : Wednesday, September 09, 2015 9:56:20 AM
Rank: Veteran


Joined: 8/30/2007
Posts: 1,493
Location: Nairobi
I read somewhere that they are targeting a rights issue in the next 2 years or so..
rwitre
#7 Posted : Friday, January 31, 2020 1:02:15 PM
Rank: Member


Joined: 3/8/2018
Posts: 384
Location: Nairobi
Pray Pray Pray Pray Pray

Massacre.
VituVingiSana
#8 Posted : Friday, January 31, 2020 1:27:17 PM
Rank: Chief


Joined: 1/3/2007
Posts: 16,685
Location: Nairobi
rwitre wrote:
Pray Pray Pray Pray Pray

Massacre.
The market is suffering.
2020 is going to be tough for FTGH.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
sparkly
#9 Posted : Friday, February 07, 2020 8:02:16 AM
Rank: Elder


Joined: 9/23/2009
Posts: 7,543
Location: Enk are Nyirobi
VituVingiSana wrote:
rwitre wrote:
Pray Pray Pray Pray Pray

Massacre.
The market is suffering.
2020 is going to be tough for FTGH.


Are you still in this tuktuk?
Life is short. Live passionately.
Fyatu
#10 Posted : Friday, February 07, 2020 11:24:41 AM
Rank: Veteran


Joined: 1/20/2011
Posts: 1,693
Location: Nakuru
sparkly wrote:
VituVingiSana wrote:
rwitre wrote:
Pray Pray Pray Pray Pray

Massacre.
The market is suffering.
2020 is going to be tough for FTGH.


Are you still in this tuktuk?



No need to panic. FY 2019 will be a profit and perhaps a dividend.
Dumb money becomes dumb only when it listens to smart money
VituVingiSana
#11 Posted : Friday, February 07, 2020 2:03:06 PM
Rank: Chief


Joined: 1/3/2007
Posts: 16,685
Location: Nairobi
sparkly wrote:
VituVingiSana wrote:
rwitre wrote:
Pray Pray Pray Pray Pray

Massacre.
The market is suffering.
2020 is going to be tough for FTGH.

Are you still in this tuktuk?
Never sold them. Luckily this was one of my smaller positions so I am not particularly worried. I need to start looking at them again at the sub-2 level but I prefer my "core" holdings.

I have been transitioning a larger % into my "Core" picks. 5 comprise 85%+ of my total holdings in value.

I don't mind lower prices given there may be value if the firm is doing OK over time.
To paraphrase WB: Socks or stocks, I like them at a discount!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Kenyan Oracle
#12 Posted : Friday, February 07, 2020 2:51:08 PM
Rank: Member


Joined: 5/31/2011
Posts: 161
VituVingiSana wrote:
sparkly wrote:
VituVingiSana wrote:
rwitre wrote:
Pray Pray Pray Pray Pray

Massacre.
The market is suffering.
2020 is going to be tough for FTGH.

Are you still in this tuktuk?
Never sold them. Luckily this was one of my smaller positions so I am not particularly worried. I need to start looking at them again at the sub-2 level but I prefer my "core" holdings.

I have been transitioning a larger % into my "Core" picks. 5 comprise 85%+ of my total holdings in value.

I don't mind lower prices given there may be value if the firm is doing OK over time.
To paraphrase WB: Socks or stocks, I like them at a discount!


VVS which are your core holdings?
Care to share?
You lose money chasing women, but you never lose women chasing money - NAS
VituVingiSana
#13 Posted : Friday, February 07, 2020 3:00:03 PM
Rank: Chief


Joined: 1/3/2007
Posts: 16,685
Location: Nairobi
Kenyan Oracle wrote:
VituVingiSana wrote:
sparkly wrote:
VituVingiSana wrote:
rwitre wrote:
Pray Pray Pray Pray Pray

Massacre.
The market is suffering.
2020 is going to be tough for FTGH.

Are you still in this tuktuk?
Never sold them. Luckily this was one of my smaller positions so I am not particularly worried. I need to start looking at them again at the sub-2 level but I prefer my "core" holdings.

I have been transitioning a larger % into my "Core" picks. 5 comprise 85%+ of my total holdings in value.

I don't mind lower prices given there may be value if the firm is doing OK over time.
To paraphrase WB: Socks or stocks, I like them at a discount!


VVS which are your core holdings?
Care to share?
This is a FTG thread but here goes in no particular order:

Centum
Kenya Re
Banks (mid-sized I&M, NIC (now large as NCBA), DTB)
Unga

The reasons are posted elsewhere.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Kenyan Oracle
#14 Posted : Friday, February 07, 2020 3:56:07 PM
Rank: Member


Joined: 5/31/2011
Posts: 161
VituVingiSana wrote:
Kenyan Oracle wrote:
VituVingiSana wrote:
sparkly wrote:
VituVingiSana wrote:
rwitre wrote:
Pray Pray Pray Pray Pray

Massacre.
The market is suffering.
2020 is going to be tough for FTGH.

Are you still in this tuktuk?
Never sold them. Luckily this was one of my smaller positions so I am not particularly worried. I need to start looking at them again at the sub-2 level but I prefer my "core" holdings.

I have been transitioning a larger % into my "Core" picks. 5 comprise 85%+ of my total holdings in value.

I don't mind lower prices given there may be value if the firm is doing OK over time.
To paraphrase WB: Socks or stocks, I like them at a discount!


VVS which are your core holdings?
Care to share?
This is a FTG thread but here goes in no particular order:

Centum
Kenya Re
Banks (mid-sized I&M, NIC (now large as NCBA), DTB)
Unga

The reasons are posted elsewhere.


Hebu tag me on the other thread. Dont want to hijack this thread.
You lose money chasing women, but you never lose women chasing money - NAS
VituVingiSana
#15 Posted : Friday, February 07, 2020 4:35:01 PM
Rank: Chief


Joined: 1/3/2007
Posts: 16,685
Location: Nairobi
Kenyan Oracle wrote:
VituVingiSana wrote:
Kenyan Oracle wrote:
VituVingiSana wrote:
sparkly wrote:
VituVingiSana wrote:
rwitre wrote:
Pray Pray Pray Pray Pray

Massacre.
The market is suffering.
2020 is going to be tough for FTGH.

Are you still in this tuktuk?
Never sold them. Luckily this was one of my smaller positions so I am not particularly worried. I need to start looking at them again at the sub-2 level but I prefer my "core" holdings.

I have been transitioning a larger % into my "Core" picks. 5 comprise 85%+ of my total holdings in value.

I don't mind lower prices given there may be value if the firm is doing OK over time.
To paraphrase WB: Socks or stocks, I like them at a discount!


VVS which are your core holdings?
Care to share?
This is a FTG thread but here goes in no particular order:

Centum
Kenya Re
Banks (mid-sized I&M, NIC (now large as NCBA), DTB)
Unga

The reasons are posted elsewhere.


Hebu tag me on the other thread. Dont want to hijack this thread.
Please search. I did this in 2018 and 2019. My reasons on why. I may need to update the reasons/logic to reflect changes.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Sober
#16 Posted : Saturday, February 08, 2020 5:48:46 PM
Rank: Elder


Joined: 11/27/2007
Posts: 3,601
VituVingiSana wrote:
Kenyan Oracle wrote:
VituVingiSana wrote:
Kenyan Oracle wrote:
VituVingiSana wrote:
sparkly wrote:
VituVingiSana wrote:
rwitre wrote:
Pray Pray Pray Pray Pray

Massacre.
The market is suffering.
2020 is going to be tough for FTGH.

Are you still in this tuktuk?
Never sold them. Luckily this was one of my smaller positions so I am not particularly worried. I need to start looking at them again at the sub-2 level but I prefer my "core" holdings.

I have been transitioning a larger % into my "Core" picks. 5 comprise 85%+ of my total holdings in value.

I don't mind lower prices given there may be value if the firm is doing OK over time.
To paraphrase WB: Socks or stocks, I like them at a discount!


VVS which are your core holdings?
Care to share?
This is a FTG thread but here goes in no particular order:

Centum
Kenya Re
Banks (mid-sized I&M, NIC (now large as NCBA), DTB)
Unga

The reasons are posted elsewhere.


Hebu tag me on the other thread. Dont want to hijack this thread.
Please search. I did this in 2018 and 2019. My reasons on why. I may need to update the reasons/logic to reflect changes.


Waiting to see how this turns out.
African parents don't know how to say sorry.. the closest you will get to a sorry is a 'have you eaten'
VituVingiSana
#17 Posted : Sunday, February 09, 2020 5:45:58 PM
Rank: Chief


Joined: 1/3/2007
Posts: 16,685
Location: Nairobi
Sober wrote:
VituVingiSana wrote:
Kenyan Oracle wrote:
VituVingiSana wrote:
Kenyan Oracle wrote:
VituVingiSana wrote:
sparkly wrote:
VituVingiSana wrote:
rwitre wrote:
Pray Pray Pray Pray Pray

Massacre.
The market is suffering.
2020 is going to be tough for FTGH.

Are you still in this tuktuk?
Never sold them. Luckily this was one of my smaller positions so I am not particularly worried. I need to start looking at them again at the sub-2 level but I prefer my "core" holdings.

I have been transitioning a larger % into my "Core" picks. 5 comprise 85%+ of my total holdings in value.

I don't mind lower prices given there may be value if the firm is doing OK over time.
To paraphrase WB: Socks or stocks, I like them at a discount!


VVS which are your core holdings?
Care to share?
This is a FTG thread but here goes in no particular order:

Centum
Kenya Re
Banks (mid-sized I&M, NIC (now large as NCBA), DTB)
Unga

The reasons are posted elsewhere.


Hebu tag me on the other thread. Dont want to hijack this thread.
Please search. I did this in 2018 and 2019. My reasons on why. I may need to update the reasons/logic to reflect changes.


Waiting to see how this turns out.
Centum
Kenya Re
Banks (mid-sized I&M, NIC (now large as NCBA), DTB)
Unga

OR

FTGH?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
sparkly
#18 Posted : Monday, February 10, 2020 5:46:24 PM
Rank: Elder


Joined: 9/23/2009
Posts: 7,543
Location: Enk are Nyirobi
VituVingiSana wrote:
Sober wrote:
VituVingiSana wrote:
Kenyan Oracle wrote:
VituVingiSana wrote:
Kenyan Oracle wrote:
VituVingiSana wrote:
sparkly wrote:
VituVingiSana wrote:
rwitre wrote:
Pray Pray Pray Pray Pray

Massacre.
The market is suffering.
2020 is going to be tough for FTGH.

Are you still in this tuktuk?
Never sold them. Luckily this was one of my smaller positions so I am not particularly worried. I need to start looking at them again at the sub-2 level but I prefer my "core" holdings.

I have been transitioning a larger % into my "Core" picks. 5 comprise 85%+ of my total holdings in value.

I don't mind lower prices given there may be value if the firm is doing OK over time.
To paraphrase WB: Socks or stocks, I like them at a discount!


VVS which are your core holdings?
Care to share?
This is a FTG thread but here goes in no particular order:

Centum
Kenya Re
Banks (mid-sized I&M, NIC (now large as NCBA), DTB)
Unga

The reasons are posted elsewhere.


Hebu tag me on the other thread. Dont want to hijack this thread.
Please search. I did this in 2018 and 2019. My reasons on why. I may need to update the reasons/logic to reflect changes.


Waiting to see how this turns out.
Centum
Kenya Re
Banks (mid-sized I&M, NIC (now large as NCBA), DTB)
Unga

OR

FTGH?


Obviously FTGH.
Life is short. Live passionately.
VituVingiSana
#19 Posted : Monday, February 10, 2020 6:01:17 PM
Rank: Chief


Joined: 1/3/2007
Posts: 16,685
Location: Nairobi
@sparkly - Manufacturing in Kenya suffered in 2019 and is still suffering. At best, I expect modest results from FTG for FY19. Nothing to write home about.

Except for "sin" manufacturing eg EABL and BAT, I don't think the other manufacturing firms (BOC, Bamburi, EAC, etc) did well in 2019.
Even the once unassailable Bamburi has been hurting.

On the other hand, at sub-2 (vs 7 at one point), perhaps FTG is well priced.

FTG's level of receivables and debt is higher than I would like but if FTG can grow the business without increasing receivables and debt then it looks more attractive.

I bought Centum at 28-35 given it looks very attractive compared to the NAV.
Kenya Re at 3/- given the low P/B and high PER.

Finally, not that it's a guarantee of success (see ARM) but the CEO owns 80%+ which is a lot of skin in the game.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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