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EA Portland Cement HY19
Pesa Nane
#1 Posted : Wednesday, February 27, 2019 5:06:39 PM
Rank: Elder


Joined: 5/25/2012
Posts: 4,105
Location: 08c

Pesa Nane plans to be shilingi when he grows up.
murchr
#2 Posted : Wednesday, February 27, 2019 5:11:22 PM
Rank: Elder


Joined: 2/26/2012
Posts: 14,727
Hii ni mchezo.
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
Pesa Nane
#3 Posted : Wednesday, February 27, 2019 5:11:33 PM
Rank: Elder


Joined: 5/25/2012
Posts: 4,105
Location: 08c
Pesa Nane plans to be shilingi when he grows up.
Pesa Nane
#4 Posted : Wednesday, February 27, 2019 5:14:32 PM
Rank: Elder


Joined: 5/25/2012
Posts: 4,105
Location: 08c
Quote:

PERFORMANCE
The first half of the year reflected a difficult business environment on the backdrop of increased input prices, a sluggish market as well as production challenges arising from a tight EAPC PLC working capital position. This affected the ability of the company to effectively provide the product sufficiently to all its customers. Consequently, sales revenue declined by 55% over the same period in the prior year leading to an increase of 66% in loss from operating activities. The Company expects to continue reaping from reductions in administrative expenses driven by the ongoing staff rationalization and outsourcing of non – core administrative services.
Finance costs declined by 53% owing to restructuring of financing facilities. The current liabilities exceeded current assets by Kshs 7.3 billion (June 2018 Kshs 6 billion). The board is aggressively pursuing balance sheet restructuring to effectively address the negative working capital. Relevant consultations and approvals to recapitalize the business have been obtained.
Pesa Nane plans to be shilingi when he grows up.
Pesa Nane
#5 Posted : Wednesday, February 27, 2019 5:17:29 PM
Rank: Elder


Joined: 5/25/2012
Posts: 4,105
Location: 08c
Quote:

FUTURE OUTLOOK
Future market outlook remains positive with the unveiling of the Big Four Agenda by the National Government where affordable housing and manufacturing were among the top priorities. The competitive environment is expected to result in subdued cement prices in the near future. Revenue enhancement and cost optimization will therefore remain key focus objectives as the Company continues to leverage on its brand to weather competitive pressure. Despite the depressed results, the Board remains confident in realization of its turnaround efforts and takes cognizance of Government support in concretizing initiatives in sourcing for working capital. The Company is further reorganizing its
strategy and structure to reengineer the business in order to improve performance, cost rationalization and efficiency.
This is geared towards reduction of the high Finance and Administrative costs and stabilization of the value chain processes in order to enhance efficiency and ultimately the Company's competitive position.
The Board is optimistic that with the implementation of the Company’s medium term plan, the Company will return back to profitability.
Pesa Nane plans to be shilingi when he grows up.
deadpoet
#6 Posted : Wednesday, February 27, 2019 5:18:54 PM
Rank: Member


Joined: 9/27/2006
Posts: 421
Negative cashflow. How is this company alive?
Ericsson
#7 Posted : Wednesday, February 27, 2019 7:16:09 PM
Rank: Elder


Joined: 12/4/2009
Posts: 7,066
Location: NAIROBI
Pesa Nane wrote:
Quote:

PERFORMANCE
The first half of the year reflected a difficult business environment on the backdrop of increased input prices, a sluggish market as well as production challenges arising from a tight EAPC PLC working capital position. This affected the ability of the company to effectively provide the product sufficiently to all its customers. Consequently, sales revenue declined by 55% over the same period in the prior year leading to an increase of 66% in loss from operating activities. The Company expects to continue reaping from reductions in administrative expenses driven by the ongoing staff rationalization and outsourcing of non – core administrative services.
Finance costs declined by 53% owing to restructuring of financing facilities. The current liabilities exceeded current assets by Kshs 7.3 billion (June 2018 Kshs 6 billion). The board is aggressively pursuing balance sheet restructuring to effectively address the negative working capital. Relevant consultations and approvals to recapitalize the business have been obtained.


Big Four is dead on arrival.The company should have come up with another strategy to grow revenue.
Ericsson
#8 Posted : Wednesday, February 27, 2019 7:18:21 PM
Rank: Elder


Joined: 12/4/2009
Posts: 7,066
Location: NAIROBI
deadpoet wrote:
Negative cashflow. How is this company alive?


It's a state owned company so it has exemptions.
Yliett
#9 Posted : Saturday, March 30, 2019 8:03:32 AM
Rank: New-farer


Joined: 12/23/2018
Posts: 38
Location: germany
I am not sure about cement business prospects. Margins are relatively low as there is sort of increasing competition in this industry. And I am not necessarily speaking about local competition, but from imports also
VituVingiSana
#10 Posted : Tuesday, May 21, 2019 10:07:41 PM
Rank: Chief


Joined: 1/3/2007
Posts: 16,185
Location: Nairobi
CEO fired https://www.businessdail...125818-5qwnvc/index.html
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
obiero
#11 Posted : Wednesday, May 22, 2019 8:21:21 PM
Rank: Elder


Joined: 6/23/2009
Posts: 12,040
Location: nairobi

With Bamburi 12.5% shareholding in EAPCC, it should angle for purchase of majority stake.. The EAPCC land assets are sweet!
COOP 5,500; KCB 3,700; KNRE 100,000; KQ 221,100
Ericsson
#12 Posted : Thursday, August 08, 2019 12:24:05 PM
Rank: Elder


Joined: 12/4/2009
Posts: 7,066
Location: NAIROBI
East Africa Portland cement declares all jobs redundant as it undertakes a restructuring to reverse a daily loss position of ksh.8 million. Payment will be made at points of exit and employees are encouraged to reapply for reconfigured positions
Angelica _ann
#13 Posted : Thursday, August 08, 2019 12:26:00 PM
Rank: Elder


Joined: 12/7/2012
Posts: 10,703
Ericsson wrote:
East Africa Portland cement declares all jobs redundant as it undertakes a restructuring to reverse a daily loss position of ksh.8 million. Payment will be made at points of exit and employees are encouraged to reapply for reconfigured positions


It has come to this. Anyway Jubilee eating its own shudren!!!
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
#14 Posted : Thursday, August 08, 2019 4:16:37 PM
Rank: Veteran


Joined: 2/16/2007
Posts: 2,089
Ericsson wrote:
East Africa Portland cement declares all jobs redundant as it undertakes a restructuring to reverse a daily loss position of ksh.8 million. Payment will be made at points of exit and employees are encouraged to reapply for reconfigured positions

So, the accountant's last job will be giving out those last pay cheques?
sparkly
#15 Posted : Thursday, August 08, 2019 7:32:51 PM
Rank: Elder


Joined: 9/23/2009
Posts: 7,130
Location: Enk are Nyirobi
Ericsson wrote:
East Africa Portland cement declares all jobs redundant as it undertakes a restructuring to reverse a daily loss position of ksh.8 million. Payment will be made at points of exit and employees are encouraged to reapply for reconfigured positions


Surely how can all jobs become redundant? Are they handing over the company to robots?
Life is short. Live passionately.
Impunity
#16 Posted : Friday, August 09, 2019 12:14:25 AM
Rank: Elder


Joined: 3/2/2009
Posts: 26,115
Location: Masada
Chaka wrote:
Ericsson wrote:
East Africa Portland cement declares all jobs redundant as it undertakes a restructuring to reverse a daily loss position of ksh.8 million. Payment will be made at points of exit and employees are encouraged to reapply for reconfigured positions

So, the accountant's last job will be giving out those last pay cheques?


The last job will be security guy at the gate ushering out the last nigga and closing the gate behind.
Laughing out loudly Laughing out loudly
Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.

kawi254
#17 Posted : Friday, August 09, 2019 1:17:38 AM
Rank: Member


Joined: 2/20/2015
Posts: 313
Location: Nairobi
EAPCC & ARM cite competition (amongst other reasons) for their woes. Who is this new competition that has disrupted the cement industry exposing those that were swimming naked? Simba cement or imports?
nairobby
#18 Posted : Friday, August 09, 2019 8:46:53 AM
Rank: Member


Joined: 1/18/2019
Posts: 123
Location: kenya
Ericsson wrote:
East Africa Portland cement declares all jobs redundant as it undertakes a restructuring to reverse a daily loss position of ksh.8 million. Payment will be made at points of exit and employees are encouraged to reapply for reconfigured positions


This is what KQ should doLaughing out loudly
nairobby
#19 Posted : Friday, August 09, 2019 8:52:30 AM
Rank: Member


Joined: 1/18/2019
Posts: 123
Location: kenya
Ericsson wrote:
East Africa Portland cement declares all jobs redundant as it undertakes a restructuring to reverse a daily loss position of ksh.8 million. Payment will be made at points of exit and employees are encouraged to reapply for reconfigured positions


This is what KQ should doLaughing out loudly
VituVingiSana
#20 Posted : Friday, August 09, 2019 9:27:00 AM
Rank: Chief


Joined: 1/3/2007
Posts: 16,185
Location: Nairobi
obiero wrote:

With Bamburi 12.5% shareholding in EAPCC, it should angle for purchase of majority stake.. The EAPCC land assets are sweet!
The politics. Let EAPCC die as should other firms like it. The land should be TRANSPARENTLY sold off. The equipment is probably scrap but can be auctioned.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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