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Britam FY 2018
Ericsson
#1 Posted : Friday, March 29, 2019 9:42:38 AM
Rank: Elder


Joined: 12/4/2009
Posts: 6,874
Location: NAIROBI
Loss of ksh.2.3bn compared to a profit before tax of ksh.868mn in 2017
Directors recommend no dividend
rwitre
#2 Posted : Friday, March 29, 2019 9:46:24 AM
Rank: Member


Joined: 3/8/2018
Posts: 327
Location: Nairobi
Ericsson wrote:
Loss of ksh.2.3bn compared to a profit before tax of ksh.868mn in 2017
Directors recommend no dividend



WTH Pray Pray d'oh!

What happended to being cash rich??
littledove
#3 Posted : Friday, March 29, 2019 9:49:49 AM
Rank: Member


Joined: 7/1/2014
Posts: 706
Location: sky
rwitre wrote:
Ericsson wrote:
Loss of ksh.2.3bn compared to a profit before tax of ksh.868mn in 2017
Directors recommend no dividend



WTH Pray Pray d'oh!

What happended to being cash rich??

and savings from early bond payment
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
#4 Posted : Friday, March 29, 2019 9:53:30 AM
Rank: Elder


Joined: 12/4/2009
Posts: 6,874
Location: NAIROBI
rwitre wrote:
Ericsson wrote:
Loss of ksh.2.3bn compared to a profit before tax of ksh.868mn in 2017
Directors recommend no dividend



WTH Pray Pray d'oh!

What happended to being cash rich??


Unrealised loss in listed equities at ksh.3.2bn compared to a gain of sh.0.9bn in 2017
Lower returns in property investments due to depressed property market
Provisions of the new IFRS9
xxxxx
#5 Posted : Friday, March 29, 2019 10:03:17 AM
Rank: Member


Joined: 3/20/2008
Posts: 451
Ericsson wrote:
rwitre wrote:
Ericsson wrote:
Loss of ksh.2.3bn compared to a profit before tax of ksh.868mn in 2017
Directors recommend no dividend



WTH Pray Pray d'oh!

What happended to being cash rich??


Unrealised loss in listed equities at ksh.3.2bn compared to a gain of sh.0.9bn in 2017
Lower returns in property investments due to depressed property market
Provisions of the new IFRS9


Chisas, it's like they are invested in KQ ARM and NBV (K-Shoe)Laughing out loudly Laughing out loudly
Ericsson
#6 Posted : Friday, March 29, 2019 10:09:53 AM
Rank: Elder


Joined: 12/4/2009
Posts: 6,874
Location: NAIROBI
xxxxx wrote:
Ericsson wrote:
rwitre wrote:
Ericsson wrote:
Loss of ksh.2.3bn compared to a profit before tax of ksh.868mn in 2017
Directors recommend no dividend



WTH Pray Pray d'oh!

What happended to being cash rich??


Unrealised loss in listed equities at ksh.3.2bn compared to a gain of sh.0.9bn in 2017
Lower returns in property investments due to depressed property market
Provisions of the new IFRS9


Chisas, it's like they are invested in KQ ARM and NBV (K-Shoe)Laughing out loudly Laughing out loudly


Return on assets is quite low coupled with high expenses
Angelica _ann
#7 Posted : Friday, March 29, 2019 10:37:03 AM
Rank: Elder


Joined: 12/7/2012
Posts: 10,554
Ericsson wrote:
xxxxx wrote:
Ericsson wrote:
rwitre wrote:
Ericsson wrote:
Loss of ksh.2.3bn compared to a profit before tax of ksh.868mn in 2017
Directors recommend no dividend



WTH Pray Pray d'oh!

What happended to being cash rich??


Unrealised loss in listed equities at ksh.3.2bn compared to a gain of sh.0.9bn in 2017
Lower returns in property investments due to depressed property market
Provisions of the new IFRS9


Chisas, it's like they are invested in KQ ARM and NBV (K-Shoe)Laughing out loudly Laughing out loudly


Return on assets is quite low coupled with high expenses


I thought property sector is on fire, you can never go wrong 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
littledove
#8 Posted : Friday, March 29, 2019 10:44:03 AM
Rank: Member


Joined: 7/1/2014
Posts: 706
Location: sky
Angelica _ann wrote:
Ericsson wrote:
xxxxx wrote:
Ericsson wrote:
rwitre wrote:
Ericsson wrote:
Loss of ksh.2.3bn compared to a profit before tax of ksh.868mn in 2017
Directors recommend no dividend



WTH Pray Pray d'oh!

What happended to being cash rich??


Unrealised loss in listed equities at ksh.3.2bn compared to a gain of sh.0.9bn in 2017
Lower returns in property investments due to depressed property market
Provisions of the new IFRS9


Chisas, it's like they are invested in KQ ARM and NBV (K-Shoe)Laughing out loudly Laughing out loudly


Return on assets is quite low coupled with high expenses


I thought property sector is on fire, you can never go wrong Laughing out loudly Laughing out loudly Laughing out loudly

things are thick for britam, heavily invested in strungling property market and at the same time housing finance
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
xxxxx
#9 Posted : Friday, March 29, 2019 10:57:33 AM
Rank: Member


Joined: 3/20/2008
Posts: 451
littledove wrote:
Angelica _ann wrote:
Ericsson wrote:
xxxxx wrote:
Ericsson wrote:
rwitre wrote:
Ericsson wrote:
Loss of ksh.2.3bn compared to a profit before tax of ksh.868mn in 2017
Directors recommend no dividend



WTH Pray Pray d'oh!

What happended to being cash rich??


Unrealised loss in listed equities at ksh.3.2bn compared to a gain of sh.0.9bn in 2017
Lower returns in property investments due to depressed property market
Provisions of the new IFRS9


Chisas, it's like they are invested in KQ ARM and NBV (K-Shoe)Laughing out loudly Laughing out loudly


Return on assets is quite low coupled with high expenses


I thought property sector is on fire, you can never go wrong Laughing out loudly Laughing out loudly Laughing out loudly

things are thick for britam, heavily invested in strungling property market and at the same time housing finance


So do we buy Britam or Housing Finance right now??
Ericsson
#10 Posted : Friday, March 29, 2019 10:58:09 AM
Rank: Elder


Joined: 12/4/2009
Posts: 6,874
Location: NAIROBI
xxxxx wrote:
littledove wrote:
Angelica _ann wrote:
Ericsson wrote:
xxxxx wrote:
Ericsson wrote:
rwitre wrote:
Ericsson wrote:
Loss of ksh.2.3bn compared to a profit before tax of ksh.868mn in 2017
Directors recommend no dividend



WTH Pray Pray d'oh!

What happended to being cash rich??


Unrealised loss in listed equities at ksh.3.2bn compared to a gain of sh.0.9bn in 2017
Lower returns in property investments due to depressed property market
Provisions of the new IFRS9


Chisas, it's like they are invested in KQ ARM and NBV (K-Shoe)Laughing out loudly Laughing out loudly


Return on assets is quite low coupled with high expenses


I thought property sector is on fire, you can never go wrong Laughing out loudly Laughing out loudly Laughing out loudly

things are thick for britam, heavily invested in strungling property market and at the same time housing finance


So do we buy Britam or Housing Finance right now??

Sell all
rwitre
#11 Posted : Friday, March 29, 2019 11:53:12 AM
Rank: Member


Joined: 3/8/2018
Posts: 327
Location: Nairobi
LINK

No reason to panic sell yet.
Core business still growing.
Net assets looking good.
Premiums growing.
Shareholders funds increasing.

Paper losses on listed equities and IFRS 9 are storms that can be weathered. Buying HFCK was always a wrong move from the start, but Britam is stuck with it.

Dividend drought for the year is practical. Better than eating into reserves and then calling for a rights issue.

Tupatane AGM
Ericsson
#12 Posted : Friday, March 29, 2019 12:38:00 PM
Rank: Elder


Joined: 12/4/2009
Posts: 6,874
Location: NAIROBI
rwitre wrote:
LINK

No reason to panic sell yet.
Core business still growing.
Net assets looking good.
Premiums growing.
Shareholders funds increasing.

Paper losses on listed equities and IFRS 9 are storms that can be weathered. Buying HFCK was always a wrong move from the start, but Britam is stuck with it.

Dividend drought for the year is practical. Better than eating into reserves and then calling for a rights issue.

Tupatane AGM


Retained earnings has all been wiped off
the deal
#13 Posted : Friday, March 29, 2019 1:14:00 PM
Rank: Elder


Joined: 9/25/2009
Posts: 4,479
Location: Windhoek/Nairobbery
Ericsson wrote:
Loss of ksh.2.3bn compared to a profit before tax of ksh.868mn in 2017
Directors recommend no dividend


Big monkey this one...
Bigchick
#14 Posted : Friday, March 29, 2019 8:56:21 PM
Rank: Elder


Joined: 2/8/2013
Posts: 3,649
Location: At Large.
Ericsson wrote:
rwitre wrote:
Ericsson wrote:
Loss of ksh.2.3bn compared to a profit before tax of ksh.868mn in 2017
Directors recommend no dividend



WTH Pray Pray d'oh!

What happended to being cash rich??


Unrealised loss in listed equities at ksh.3.2bn compared to a gain of sh.0.9bn in 2017
Lower returns in property investments due to depressed property market
Provisions of the new IFRS9



Please explain to me the above especially the IFRS9.I thought it only applies to banks(Or the HFCK relationship kicks in)
Love is beautiful and so are those who share it.With Love, Marriage is an amazing event in ones life time, the foundation of joy, happiness and success.
obiero
#15 Posted : Friday, March 29, 2019 9:43:12 PM
Rank: Elder


Joined: 6/23/2009
Posts: 11,859
Location: nairobi
Always refer to Yasserbigchair list
COOP 5,500; KCB 3,700; KQ 221,100
murchr
#16 Posted : Monday, April 01, 2019 11:44:53 PM
Rank: Elder


Joined: 2/26/2012
Posts: 14,595
@Realtreaty has not been spotted yet?
"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
.
Angelica _ann
#17 Posted : Tuesday, April 02, 2019 8:02:08 AM
Rank: Elder


Joined: 12/7/2012
Posts: 10,554
murchr wrote:
@Realtreaty has not been spotted yet?


Yesterday i saw him comment on South Africa: Foreigners injured in xenophobia clashes thread and disappeared. He went to sell all his RSA linked shares including BBK 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
Ericsson
#18 Posted : Tuesday, April 02, 2019 11:57:33 AM
Rank: Elder


Joined: 12/4/2009
Posts: 6,874
Location: NAIROBI
Kenya’s largest insurance company, Britam is in discussions to own part of Tiserin Capital, a Private Equity company focused on African investments. The insurer aims to spread out its investments beyond real estate, stocks, and government securities.

Although the exact details on the transaction are not clear, Britam’s board has approved the acquisition and it is set to be the largest investor in the PE firm as per the Business Daily.

Tiserin Capital invests in healthcare, technology companies, agri-business, and the food industry.

Britam’s CEO Mr. Benson Wairegi said, “We are excited about this new partnership with Tiserin Capital that introduces us directly into the private equity space, an area with considerable potential in the region.”

Tiserin Capital Chief Executive Officer shared his delight on the partnership saying, “We are impressed by Britam’s regional expansion, its push for innovation and the stamp of approval provided by leading investors such as IFC, Swiss-Re and AfricInvest.”

Private Equity companies are largely responsible for the exponential growth in sectors such as financial services, healthcare, education, and manufacturing in most African nations. Local and international investors are moving their funds to private equity with the hope of generating higher returns than in traditional investments such as bonds, stocks, and property.

In the last financial year, Britam made a huge net loss of KSh2.2 billion. The loss was largely attributed to a decline in the value of investments in the stock market. Britam’s partial acquisition of Tiserin will provide the insurer indirect ownership in the companies the PE firm invests in.

Shareholders hapa wanachezwa
wukan
#19 Posted : Tuesday, April 02, 2019 12:25:12 PM
Rank: Veteran


Joined: 11/13/2015
Posts: 1,126
Ericsson wrote:
Kenya’s largest insurance company, Britam is in discussions to own part of Tiserin Capital, a Private Equity company focused on African investments. The insurer aims to spread out its investments beyond real estate, stocks, and government securities.

Although the exact details on the transaction are not clear, Britam’s board has approved the acquisition and it is set to be the largest investor in the PE firm as per the Business Daily.

Tiserin Capital invests in healthcare, technology companies, agri-business, and the food industry.

Britam’s CEO Mr. Benson Wairegi said, “We are excited about this new partnership with Tiserin Capital that introduces us directly into the private equity space, an area with considerable potential in the region.”

Tiserin Capital Chief Executive Officer shared his delight on the partnership saying, “We are impressed by Britam’s regional expansion, its push for innovation and the stamp of approval provided by leading investors such as IFC, Swiss-Re and AfricInvest.”

Private Equity companies are largely responsible for the exponential growth in sectors such as financial services, healthcare, education, and manufacturing in most African nations. Local and international investors are moving their funds to private equity with the hope of generating higher returns than in traditional investments such as bonds, stocks, and property.

In the last financial year, Britam made a huge net loss of KSh2.2 billion. The loss was largely attributed to a decline in the value of investments in the stock market. Britam’s partial acquisition of Tiserin will provide the insurer indirect ownership in the companies the PE firm invests in.

Shareholders hapa wanachezwa


This sounds like Matu of Olympia and his escapades around the SA world cup. Exotic sounding investments don't lead to good returns. Britam needs a whole management shakeup, the seem to be out of touch with reality. They are too focused on being posh ignoring the reality on the ground. They thought upperhill real estate will do well but turns that location is no longer hot. Asking prices in that locale have started trending downwards. Even rental rates have stagnated.

NSE is almost at the same level it was under Moi around April 1999 (index 2767) next two years the index went to all time low of 1050s. If it repeats then the shareholders here will be burnt to recognition



mulla
#20 Posted : Tuesday, April 02, 2019 5:37:37 PM
Rank: Member


Joined: 6/15/2013
Posts: 272
wukan wrote:
Ericsson wrote:
Kenya’s largest insurance company, Britam is in discussions to own part of Tiserin Capital, a Private Equity company focused on African investments. The insurer aims to spread out its investments beyond real estate, stocks, and government securities.

Although the exact details on the transaction are not clear, Britam’s board has approved the acquisition and it is set to be the largest investor in the PE firm as per the Business Daily.

Tiserin Capital invests in healthcare, technology companies, agri-business, and the food industry.

Britam’s CEO Mr. Benson Wairegi said, “We are excited about this new partnership with Tiserin Capital that introduces us directly into the private equity space, an area with considerable potential in the region.”

Tiserin Capital Chief Executive Officer shared his delight on the partnership saying, “We are impressed by Britam’s regional expansion, its push for innovation and the stamp of approval provided by leading investors such as IFC, Swiss-Re and AfricInvest.”

Private Equity companies are largely responsible for the exponential growth in sectors such as financial services, healthcare, education, and manufacturing in most African nations. Local and international investors are moving their funds to private equity with the hope of generating higher returns than in traditional investments such as bonds, stocks, and property.

In the last financial year, Britam made a huge net loss of KSh2.2 billion. The loss was largely attributed to a decline in the value of investments in the stock market. Britam’s partial acquisition of Tiserin will provide the insurer indirect ownership in the companies the PE firm invests in.

Shareholders hapa wanachezwa


This sounds like Matu of Olympia and his escapades around the SA world cup. Exotic sounding investments don't lead to good returns. Britam needs a whole management shakeup, the seem to be out of touch with reality. They are too focused on being posh ignoring the reality on the ground. They thought upperhill real estate will do well but turns that location is no longer hot. Asking prices in that locale have started trending downwards. Even rental rates have stagnated.

NSE is almost at the same level it was under Moi around April 1999 (index 2767) next two years the index went to all time low of 1050s.
If it repeats then the shareholders here will be burnt to recognition




This is very serious. I recently asked a seasoned businessman his comparison in his business performance between Moi's time and now. He felt its worse now. Dont know how true that is statistically but wukans statement is very telling.
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