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Eveready EA FY17
sparkly
#41 Posted : Thursday, May 31, 2018 4:33:43 PM
Rank: Elder


Joined: 9/23/2009
Posts: 6,698
Location: Enk are Nyirobi
Ericsson wrote:
https://www.businessdailyafrica.com/corporate/companies/Eveready-returns-to-losses-amid-decline-in-sales/4003102-4588622-7c1bt4z/index.html

Battery distributor Eveready East Africa returned to losses in the half year ended March on the absence of gains from a property disposal seen in the previous period.

The Nairobi Securities Exchange-listed firm made a net loss of Sh64.5 million in the review period, reversing net earnings of Sh364.9 million a year earlier when it benefitted from a Sh397.3 million gain from sale of its land in Nakuru.


Back to where it belongs


Where is @MugundaMan? Soon he will be called to collect this carcass to bury in which Mugunda.
Life is short. Live passionately.
Angelica _ann
#42 Posted : Thursday, May 31, 2018 5:17:16 PM
Rank: Elder


Joined: 12/7/2012
Posts: 10,118
sparkly wrote:
Ericsson wrote:
https://www.businessdailyafrica.com/corporate/companies/Eveready-returns-to-losses-amid-decline-in-sales/4003102-4588622-7c1bt4z/index.html

Battery distributor Eveready East Africa returned to losses in the half year ended March on the absence of gains from a property disposal seen in the previous period.

The Nairobi Securities Exchange-listed firm made a net loss of Sh64.5 million in the review period, reversing net earnings of Sh364.9 million a year earlier when it benefitted from a Sh397.3 million gain from sale of its land in Nakuru.


Back to where it belongs


Where is @MugundaMan? Soon he will be called to collect this carcass to bury in which Mugunda.


Laughing out loudly Laughing out loudly Laughing out loudly
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
Chaka
#43 Posted : Thursday, May 31, 2018 5:20:57 PM
Rank: Veteran


You have been a member since:: 2/16/2007
Posts: 2,065
What does this mean exactly,is it like after spending the money carried over and then spent,even after cash from sales they were left with a deficit of Sh64.5 million to break even(i.e had they made some sh 64.5 million more,they would be at zero and hence no profit or loss)? earned
Ericsson wrote:
https://www.businessdailyafrica.com/corporate/companies/Eveready-returns-to-losses-amid-decline-in-sales/4003102-4588622-7c1bt4z/index.html

Battery distributor Eveready East Africa returned to losses in the half year ended March on the absence of gains from a property disposal seen in the previous period.

The Nairobi Securities Exchange-listed firm made a net loss of Sh64.5 million in the review period, reversing net earnings of Sh364.9 million a year earlier when it benefitted from a Sh397.3 million gain from sale of its land in Nakuru.


Back to where it belongs

MugundaMan
#44 Posted : Thursday, May 31, 2018 7:07:19 PM
Rank: Veteran


Joined: 1/8/2018
Posts: 1,535
Location: DC (Dustbowl County)
Mugundaman ako hapa hapa buying heavily on the dip! Drool

Bure gabisa reporting from so called business daily. Here is a more balanced report;

Quote:
NAIROBI, KENYA: Eveready East Africa has posted half year loss of Sh64.5 million from a profit of Sh365 million in a similar period last year, prompting it to issue a profit warning. In the absence of the Sh452.4 million one-off gain enjoyed last year from the sale of assets, the company expects its full year earnings to be at least 25 per cent lower than even as sales revenue in the first six months of trading fell by more than a third.

Managing Director Jackson Mutua says that the results for half-year period ended March 31, 2017 was weighed down by a depressed economy occasioned by unfavorable political environment. He added that preliminary assessment of the projected financial results of the company for the financial year ending September 30, 2018 pointed to a profit warning. The company is now entering the second year since cutting ties with key supplier- Energizer- to start its own brand, Turbo.

Mr Mutua says that there is still a challenge in fully entrenching the new brand in the customers’ minds.“We are confident that the initiative taken by the company provides a clear path to growth and profitability while ensuring that the long term sustainability of the business is realised,” he said.

Read more at: https://www.standardmedi...-sh64-5m-half-year-loss


A paltry 65m loss on a 1/3 dip in sales due to the election cycle is not worth ruka rukaring about hapa in glee singing RIP Eveready, as has been done on Wazoo for the past 10 years Laughing out loudly

For comparison purposes, it lost a whopping 206m a mere couple of years back in 2016 and 201m in 2015! Source HAPA

So 65m half year loss in a terrible political/economic environment and with NEW products still slowly getting traction in the market is quite commendable! This second half when the Kenyan economy has picked up should see the loss minimized even further compared to previous losses.

For the umpteenth time I will say it again.. RELAAAAAAAAAAAAX my brodas and sistas, the journey is long. The loss was expected, the small magnitude of it has put me back in buy mode on the dip. I love the cost cutting measures they have continued to put in place to get this ship back on course. Meanwhile, please sell all your shares (if you have any) so the price can go even lower so we can buy more! :)
"90% of humanity are just talkers. 10% are doers."
Dustbowl County is the Future of Kenya.
Jesus is Lord
Angelica _ann
#45 Posted : Thursday, May 31, 2018 8:08:49 PM
Rank: Elder


Joined: 12/7/2012
Posts: 10,118
MugundaMan wrote:
Mugundaman ako hapa hapa buying heavily on the dip! Drool

Bure gabisa reporting from so called business daily. Here is a more balanced report;

Quote:
NAIROBI, KENYA: Eveready East Africa has posted half year loss of Sh64.5 million from a profit of Sh365 million in a similar period last year, prompting it to issue a profit warning. In the absence of the Sh452.4 million one-off gain enjoyed last year from the sale of assets, the company expects its full year earnings to be at least 25 per cent lower than even as sales revenue in the first six months of trading fell by more than a third.

Managing Director Jackson Mutua says that the results for half-year period ended March 31, 2017 was weighed down by a depressed economy occasioned by unfavorable political environment. He added that preliminary assessment of the projected financial results of the company for the financial year ending September 30, 2018 pointed to a profit warning. The company is now entering the second year since cutting ties with key supplier- Energizer- to start its own brand, Turbo.

Mr Mutua says that there is still a challenge in fully entrenching the new brand in the customers’ minds.“We are confident that the initiative taken by the company provides a clear path to growth and profitability while ensuring that the long term sustainability of the business is realised,” he said.

Read more at: https://www.standardmedi...-sh64-5m-half-year-loss


A paltry 65m loss on a 1/3 dip in sales due to the election cycle is not worth ruka rukaring about hapa in glee singing RIP Eveready, as has been done on Wazoo for the past 10 years Laughing out loudly

For comparison purposes, it lost a whopping 206m a mere couple of years back in 2016 and 201m in 2015! Source HAPA

So 65m half year loss in a terrible political/economic environment and with NEW products still slowly getting traction in the market is quite commendable! This second half when the Kenyan economy has picked up should see the loss minimized even further compared to previous losses.

For the umpteenth time I will say it again.. RELAAAAAAAAAAAAX my brodas and sistas, the journey is long. The loss was expected, the small magnitude of it has put me back in buy mode on the dip. I love the cost cutting measures they have continued to put in place to get this ship back on course. Meanwhile, please sell all your shares (if you have any) so the price can go even lower so we can buy more! :)


So today you are lacing the loss with kizungu mingi sana. Isorite!!!
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
Chaka
#46 Posted : Thursday, May 31, 2018 8:20:52 PM
Rank: Veteran


You have been a member since:: 2/16/2007
Posts: 2,065
I wish to know which other products this Co.sells apart from turbo batteries(Own brand??).Was energizer barred from selling their batteries in this market?
MugundaMan
#47 Posted : Thursday, May 31, 2018 8:30:42 PM
Rank: Veteran


Joined: 1/8/2018
Posts: 1,535
Location: DC (Dustbowl County)


From the horses mouth not half baked news. Products doing very well considering the circumstances :)
"90% of humanity are just talkers. 10% are doers."
Dustbowl County is the Future of Kenya.
Jesus is Lord
MugundaMan
#48 Posted : Thursday, May 31, 2018 9:02:39 PM
Rank: Veteran


Joined: 1/8/2018
Posts: 1,535
Location: DC (Dustbowl County)


273 million in retained earnings,
185 million in deferred income tax
131 million cash in the bank
No financing costs
Rapidly falling inventories (as opposed to piling, meaning lack of sales)

Oh yes, Eveready has surely "collapsed" smile
"90% of humanity are just talkers. 10% are doers."
Dustbowl County is the Future of Kenya.
Jesus is Lord
Metch
#49 Posted : Friday, June 01, 2018 10:11:07 AM
Rank: Member


Joined: 12/22/2015
Posts: 136
Location: Mombasa, Kenya
MugundaMan wrote:


273 million in retained earnings,
185 million in deferred income tax
131 million cash in the bank
No financing costs
Rapidly falling inventories (as opposed to piling, meaning lack of sales)

Oh yes, Eveready has surely "collapsed" smile

Resurrection is a rare miracle. More rare for a being that was useless while alive.
I don't see why it should trade above 1 bob
Start!
MugundaMan
#50 Posted : Friday, June 01, 2018 10:50:50 AM
Rank: Veteran


Joined: 1/8/2018
Posts: 1,535
Location: DC (Dustbowl County)
Metch wrote:

Resurrection is a rare miracle. More rare for a being that was useless while alive.
I don't see why it should trade above 1 bob


Having a short memory is not a very nice thing! KQ 1990s "resurrected" did well for a decade then got back into doldrums. It is now "resurrecting" again. The ten largest banks in Kenya all struggled in the 1990s, many posting massive losses, yet they all "resurrected" and are considered blue chip as we speak! Almost ALL stocks were "dead and useless" prior to December 2002, yet "resurrected" with gusto shortly thereafter. Resurrection is as common as the African nzi my broda.

"90% of humanity are just talkers. 10% are doers."
Dustbowl County is the Future of Kenya.
Jesus is Lord
VituVingiSana
#51 Posted : Friday, June 01, 2018 11:13:06 AM
Rank: Chief


Joined: 1/3/2007
Posts: 15,264
Location: Nairobi
MugundaMan wrote:
Metch wrote:

Resurrection is a rare miracle. More rare for a being that was useless while alive.
I don't see why it should trade above 1 bob


Having a short memory is not a very nice thing! KQ 1990s "resurrected" did well for a decade then got back into doldrums. It is now "resurrecting" again. The ten largest banks in Kenya all struggled in the 1990s, many posting massive losses, yet they all "resurrected" and are considered blue chip as we speak! Almost ALL stocks were "dead and useless" prior to December 2002, yet "resurrected" with gusto shortly thereafter. Resurrection is as common as the African nzi my broda.


KQ got a massive injection of cash [& was run by Brian Presbury] from KLM in the 90s. Then Naikuni came onboard and coasted on what Brian had started. Of course, we know what he did. In 2016-17, Michael Joseph was recruited as the "executive" chairman to revitalize KQ. Another massive injection of cash from GoK and KQLC (via Debt Conversion, Guarantees and new loans).

EEA isn't a GoK project.

KCB was given a lifeline by GoK/CBK after it was run down by Kaminchia (?) and Bii. There were multiple Rights Issues to bolster KCB. GoK business is given to KCB which is a freebie. Again, a GoK project.

The 1990s were horrible for banks with the rampant inflation and printing of money under the corrupt regime of dan moi. Goldenberg.

Good luck! Laughing out loudly Laughing out loudly Laughing out loudly
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Angelica _ann
#52 Posted : Friday, June 01, 2018 11:25:53 AM
Rank: Elder


Joined: 12/7/2012
Posts: 10,118
You can see erosion of retained earning has started. A quarter B will be wiped off in less than 3 years. This is Kenya....
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
MugundaMan
#53 Posted : Friday, June 01, 2018 11:43:30 AM
Rank: Veteran


Joined: 1/8/2018
Posts: 1,535
Location: DC (Dustbowl County)
VituVingiSana wrote:

KQ got a massive injection of cash [& was run by Brian Presbury] from KLM in the 90s. Then Naikuni came onboard and coasted on what Brian had started. Of course, we know what he did. In 2016-17, Michael Joseph was recruited as the "executive" chairman to revitalize KQ. Another massive injection of cash from GoK and KQLC (via Debt Conversion, Guarantees and new loans).

EEA isn't a GoK project.

KCB was given a lifeline by GoK/CBK after it was run down by Kaminchia (?) and Bii. There were multiple Rights Issues to bolster KCB. GoK business is given to KCB which is a freebie. Again, a GoK project.

The 1990s were horrible for banks with the rampant inflation and printing of money under the corrupt regime of dan moi. Goldenberg.

Good luck! Laughing out loudly Laughing out loudly Laughing out loudly


hehehehe! A selective memory is WORSE than no memory at all! There were so many other NSE listed PRIVATE banks and companies that "resurrected" without the government dole. As for macro factors, the same are at play in terms of the political environment last year, so you are in fact supporting my point. Now that the economy is getting back in solid footing and handshakes (and hugs) are being traded left right centre, EEA is on a sure path to "resurrection". Notice how overhead costs are dropping like a stone thanks to cost cutting by management. All EEA needs is for its products to gain traction in the market and this gem will be pouring out profits like a bad smell (if they hold the line on costs as it recovers.) I give it 3 years at most to get to that level. It closed jana at 1.65 if I remember correctly. Monday I hope it drops to 1.50 so I can load up some more on it vibaya sana.
"90% of humanity are just talkers. 10% are doers."
Dustbowl County is the Future of Kenya.
Jesus is Lord
obiero
#54 Posted : Saturday, June 02, 2018 8:27:39 AM
Rank: Elder


Joined: 6/23/2009
Posts: 11,066
Location: nairobi
MugundaMan wrote:


From the horses mouth not half baked news. Products doing very well considering the circumstances :)

Atleast the firm has decency to report an early profit warning
COOP 5,500; KCB 3,700; KQ 96,100
Chaka
#55 Posted : Saturday, June 02, 2018 5:02:25 PM
Rank: Veteran


You have been a member since:: 2/16/2007
Posts: 2,065
Does EEA own the TURBO trademark,ie are those batteries being manufactured under licence in China?
Whose products are at position one since in the report they talk of being at position two?
Who now distributes Energizer products in the local and regional market?
Ericsson
#56 Posted : Sunday, June 03, 2018 12:27:53 AM
Rank: Elder


Joined: 12/4/2009
Posts: 6,180
Location: NAIROBI
Chaka wrote:
Does EEA own the TURBO trademark,ie are those batteries being manufactured under licence in China?
Whose products are at position one since in the report they talk of being at position two?
Who now distributes Energizer products in the local and regional market?

Energizer is at position one
MugundaMan
#57 Posted : Sunday, June 03, 2018 6:59:41 AM
Rank: Veteran


Joined: 1/8/2018
Posts: 1,535
Location: DC (Dustbowl County)
Ericsson wrote:

Energizer is at position one


On what planet? Laughing out loudly

1. Chloride Exide
2. Turbo by our lovely friends at Eveready East Africa :)
3. "Others"


"90% of humanity are just talkers. 10% are doers."
Dustbowl County is the Future of Kenya.
Jesus is Lord
Chaka
#58 Posted : Sunday, June 03, 2018 9:39:56 AM
Rank: Veteran


You have been a member since:: 2/16/2007
Posts: 2,065
How was this ranking determined?
MugundaMan wrote:
Ericsson wrote:

Energizer is at position one


On what planet? Laughing out loudly

1. Chloride Exide
2. Turbo by our lovely friends at Eveready East Africa :)
3. "Others"



2012
#59 Posted : Wednesday, January 09, 2019 9:00:17 AM
Rank: Elder


Joined: 12/9/2009
Posts: 6,185
Location: Nairobi
Very surprised to see Eveready's new appointment, Sitati in the dailies today. Shouldn't he be in jail after knocking a man dead while driving under the influence?
d'oh!

One thing is clear about Kenya, taxes are for enriching thieves.
VituVingiSana
#60 Posted : Wednesday, January 09, 2019 9:48:48 AM
Rank: Chief


Joined: 1/3/2007
Posts: 15,264
Location: Nairobi
2012 wrote:
Very surprised to see Eveready's new appointment, Sitati in the dailies today. Shouldn't he be in jail after knocking a man dead while driving under the influence?
d'oh!

Jaguar is an MP
Joel Kibe is out on bail.
#ThisIsKenya
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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