12th December 2017
Authorised N.S.E Data Vendor
  home | rich profile | rich freebies | rich tools | rich data | online shop | my account | register |
  n.s.e daily prices | currency rates |
Company Data
 
Sasini Tea & Coffee Ltd.
http://www.sasini.co.ke/
Par Value:                  1/-
Closing Price:           25.75
Total Shares Issued:          228055504.00
Market Capitalization:        5,872,429,228
EPS:             3.39
PE:                 7.596
 

One of Kenyas lead tea and coffee producers.

H1 Revenue 1.453444b vs. 1.587013b -8.416%
H1 Gains/ [Losses] arising from changes in fair value of biological assets less cost to sell [44.025m] vs. [10.070m] -333.333%
H1 Results from operating activities 51.188m vs. 218.425m -76.565%
H1 Finance income 64.058m vs. 48.062m +33.282%
H1 Finance cost [4.828m] vs. 15.683m -130.785%
H1 Profit before tax 110.418m vs. 282.169m -60.868%
H1 Net profit for the year 77.293m vs. 197.519m -60.868%
EPS on Operating activities 0.47 vs. 0.89 -47.191%
EPS on biological assets [0.13] vs. [0.03] -333.333%
EPS 0.34 vs. 0.85 -60.000%
Cash and cash equivalents at the end of the period 1.957582b

Conclusions

I suspect the Drought impacted volumes but have yet to see any commentary.

FY Revenue 3.507629b vs. 2.786126b +28.157%
FY Gain/ [Losses] arising from changes in fair value of biological assets less cost to sell 133.566m vs. 18.290m +630.268%
FY Results from operating activities 917.501m vs. 964.524m -4.906%
FY Finance income 116.869m vs. 93.864m +24.509%
FY Profit before tax 1.020758b vs. 1.039222b -1.777%
FY Taxation [charge]/ credit [258.908m] vs. 61.990m -517.661%
FY Profit for the year 761.850m vs. 1.101212b -30.817%
FY Total comprehensive income 522.311m vs. 1.743357b -70.040%
FY Gains/ [Losses] arising from changes in fair value of biological assets after tax 93.496m vs. 21.113m +342.836%
EPS on operating activities 2.98 vs. 4.18 -28.708%
EPS on biological assets 0.41 vs. 0.09 +355.556%
EPS 3.39 vs. 4.27 -20.609%
Dividend per share 1.50 vs. 1.25 +20.000%
Total equity 13.960232b vs. 13.558505b +2.963%
Cash and cash equivalents at the end of the year 1.954551b vs. 1.200514b +62.810%

Company Commentary

11,108 tonnes of made Tea compared to 8,578 tons in the previous year.
average price realised $1.89 per KG versus 1.87
Coffee 944 tons average $4.57 per KG

Conclusions

Big surge in Tea Production.
Cheap share on a PE of 5.22

H1 Revenue 1.587013b vs. 1.268315b +25.128%
H1 Gains/[Losses] arising from changes in fair value of biological assets less cost to sell 449.199m vs. [59.102m] +860.040%
H1 Finance income 48.062m vs. 12.468m +265.483%
H1 PBT 746.127m vs. [131.424m] +667.725%
H1 Profit for the period 522.288m vs. [91.997m] +667.723%
EPS on operating activities 0.86 vs. [0.23] +473.913%
EPS on biological assets 1.39 vs. [0.19] +831.579%
EPS 2.25 vs. 0
Total equity 14.023780b vs. 13.558505b +3.432%

Conclusions

Real Strong H1 Earnings

Sasini Limited 2015 Full Year result through 30th September 2015 vs. 30th September 2014
FY Revenue 2.786126b vs. 2.762547b +0.854%
FY Gain/ [Losses] arising from changes in fair value of biological assets less costs to sell 18.290m vs. [50.198m] +136.436%
FY Results from operating activities 954.524m vs. 87.331m +992.996%
FY Finance income 81.684m vs. 2.199m +3,614.598%
FY Finance costs [6.966m] vs. [27.737m] -74.886%
FY Profit before tax 1,039.222m vs. 61.793m +1,581.779%
FY Profit/ [Losses] for the year 1,101.212m vs. 45.421m +2,324.456%
FY Reversal of revaluation gain-net of tax 405.712m vs. 5,674.530m -92.850%
FY Re-measurement of post employee benefits 32.734m vs. 18.105m +80.801%
FY Total comprehensive income/ [Losses] 1,539.658m vs. 5,716.293m -73.065%
FY Profit/ [Loss] arising from operating activities 953.650m vs. 85.476m +1,015.693%
FY Other comprehensive income/ [Losses] 438.446m vs. 5,692.636m -92.298%
FY [Losses] gains arising from changes in fair value of biological assets 21.113m vs. [51.819m] +140.744%
FY EPS 4.23 vs. 0.10 +4,130%
Dividend per share 0.15 vs. 0.25 -40%
Total assets 16.044527b vs. 14.929577b +7.468%
Cash and cash equivalents at the end of the year 1,200.514m vs. 325.885m +268.386%

Company Commentary

Significant contributions to this improvement arose from restructuring of non performing Assets
The Sale of part of the land in two of the subsidiary companies was completed
The successful disposal of these assets in the second half yielded considerable contribution to the bottom line.
Factories produced 8,578 tons of made Tea compared to 11,564 tons in the previous year.
Factories produced 993 tons of Coffee compared to 1,153 tons in the previous year

Conclusions

Real Estate Sales fuelled the +4,130% FY EPS Gain and there is plenty more of that to come, I venture

Announcement of results for the ten months ended 31st July 2015
Revenue 1.882930b versus 2.088270b
Gains [Losses] arising from changes in fair value of biological assets [98.503m] versus [12.334m]
Other Income 874.448m versus 0
Results from Operating Activities 789.373m versus 69.481m
First Half Profit before Tax 834.023m versus 76.457m +990%
First Half Profit after Tax 554.265m versus 53.520m +935.6%
10 month EPS 2.01 versus 0.21 +857%
Cash and cash equivalents at end of period 1.100757b

Company Commentary

increase in profitability in operating activities and restructuring of non performing assets
Year has been characterised by a biting drought that severely affected the operations of the Tea Division
Production volumes in both tea and coffee divisions dropped considerably
sale of Wahenya Estate and part of Mweiga Estate was completed
Dividend 1 shilling a share

Conclusions

Not sure why they are reporting 10 month numbers.
Clearly they have booked some Land sales through the Earnings. There is probably plenty more to come.
Its a cheap share and this might prove the catalyst for a material rerating.

First Half Earnings through 31st March 2015 versus 31st March 2014
First Half revenue 1.268315b versus 1.377568b
First Half Profit before Tax [131.425m] versus 40.744m
First Half Profit after Tax [91.997m] versus 28.521m
EPS Operating Activity [0.23] versus 0.17
EPS [biological Assets] [0.19] versus [0.07]
H1 EPS [0.42] versus 0.10

Conclusions

Tea Prices ramped a lot higher over this reporting Period. The First Half Results do not seem to have ridden the rebound.

Full Year Results through September 30th 2014 versus through September 30th 2013
FY Revenue 2.762547b versus 2.816834b
[Losses]Gains arising from change in Fair Value of biological assets [50.200m] versus 379.098m
FY Results from Operating Activities 87.331m versus 144.730m -39.659%
FY Finance Costs [27.737m] versus [8.631m] +221.631%
FY Profit before Tax 61.793m versus 158.407m -60.99%
FY Profit after Tax 45.241m versus 91.689m -50.65%
FY EPS 0.10 versus 0.54 -81.48%
FY Dividend 25cents a share unchanged

Company Commentary

Tea Price realization dropped sharply from last years average of $2.26 per KG to $1.82 per KG.
Reduced Coffee Production levels

Conclusions

They eked out a Profit in a very difficult Year for Tea Prices.

Earnings 6 months through 31st March 2014 versus 6 months through 31st March 2013
6 Month Revenues 1.377568b versus 1.474913b -6.6%
Fair Value Biological Gains or [losses] [12.334m] versus 50.253m
Results from operating activities 39.463m versus 285.059m -86.156%
H1 Profit Before Tax 40.744m versus 286.368m -85.77%
H1 Profit After Tax 28.621m versus 200.458m -85.722%
H1 Earnings Per Share 0.10 versus 0.91 -89.01%

Company Commentary

The decrease in the Profits is largely as a result of significantly lower prices of Tea and lower production of Coffee in the Period under review.
No Interim Dividend

Conclusions

dramatic slow down in Earnings. Tea Prices have been soft and Coffee production lower and therefore company was unable to ride the higher Coffee price structure
The Issue with these Companies is that the Net Asset Value is significantly higher than the share price.
FY Through 30.09.2013 versus 30.09.2012
FY Revenue 2.816834b versus 2.779883b +1.3292286%
[Losses]Gains arising from changes in Fair Value of Biological Assets [31.517m] versus [420.986m]
FY PBT 158.407m [85.225m]
FY PAT 91.689m versus [124.113m]
EPS OPERATING ACTIVITIES 0.56 versus 0.82 -31.707%
Earnings Per Share on Biological Assets [0.03] versus [1.12]
FY EPS 0.54 versus [0.30]

Conclusions

The Swing Factor was a sharply reduced Biological Loss in FY 2013 versus FY 2012
The Net Asset Value is a multiple of the share Price.
Tea Prices have been soft all Year.

FY Earnings through September 2012
Revenue 2.779883b versus 2.665877b
Biological Assets Revaluation [0.420986b] versus 0.416043b
Results from Operating Activities [-95.402m] versus 977.211m
Profit Before Tax [-85.225m] versus 1.014139b
Profit After Tax [-67.793m] versus 391.233m
Earnings Per Share from Operating Activities 0.82 versus 1.69
Earnings Per Share from Biological Assets [1.12] versus 0.03
FY EPS [0.30] versus 1.72
Final Dividend 0.25
Total Dividend 0.75 versus 1.00

Company Commentary cites reduced Coffee Prices and Drought experienced in first 3 months of 2012.

Conclusions

Coffee Prices have come considerably lower.
Biological Revaluation crimped.
The NAV is a multiple of the Share Price.

Swot Analysis Six Months to March 2012 versus Six Months to March 2011
Group Revenue
1.3734475b versus 1.260922b +8.924%
Gains or Losses from Biological Revaluation -46.597m versus +329.052m
Profit Before Tax 177.879m versus 614.512m -58.188%
Profit After Tax 177.083m versus 423.53m
Profit arising out of Operating Activities 160.251m versus 198.267m -19.1741%
Earnings Per Share EPS 0.78 versus 1.88 [0.99 was a Biological Gain]
Company cites Costs of Farm Inputs and Labour.
A Lower Coffee Price.
Interim Dividend of 50 cents a share.

Conclusions

I would like more granularity around the Separate Business Lines, Tea, Coffee, Horticulture, Savannah. The Head Line Number veils the Fact that Profits arising out of Operating Activities were -19.1741% versus the Headline Profit After Tax Fall of -58.188%. The Interim Dividend is worth 4.1493% of Yield. Setting the Company and Group Numbers side by side and there is a wide Divergence.

Swot Analysis FT Sep 2011 versus FY Sep 2010
Revenue 2.665877b versus 2.297927b
Gains from Biological Revaluation less estimated Point Of Sale Costs 413.082m versus 904.382m
Profit Before Tax 1.014139b versus 1.382375b
PAT 391.233m versus 980.907m
EPS Operating Activities 1.70 versus 1.55
EPS 1.72 versus 4.30
Non Controlling Interest [59.114m] versus [12.823m] +360.99%
Final Dividend 50 cents
Interim Dividend Paid 50 cents

Conclusions

Operating Profits increased I need to see Production and Point of Sale Price Data but these are hardly correlated to the underlying Commodity Price Trends

Swot Analysis

Full Year Sep 2010 versus Full Year 2009
Turnover 2.29 Billion versus 2.18 Billion
PAT 352.5m versus 137.2m
Company redeemed 540m Fixed Rate Loan Notes
Final Dividend 0.30 cents + Interim 0.20 Cents makes 0.50 Cents
EPS 4.30 [2.75 Biological] versus 2.30 [1.70 Biological]

Conclusions

Strong Results reflecting The Tea Curve Sweet Spot
Average Price Over the last 5 Weeks
Average Price Over the last 5 Months
No. Of Shares Traded Over the last 5 Weeks
No. Of Shares Traded Over the last 5 Months
Market Capitalization Over the last 5 Weeks
Market Capitalization Over the last 5 Months
Data Source: Nairobi Stock Exchange
Trading Day: 11 Dec 2017
 
Downloads
 
  29-MAY-2017 ::  HALF YEAR RESULTS
  unaudited Financial Results for Six Months ended 31 March 2017.

Download N.S.E Announcement
   
  28-MAR-2017 ::  AGM Resolutions
  Annual General Meeting Resolutions.

Download N.S.E Announcement
   
  22-FEB-2017 ::  Notice of Annual General Meeting.
  Notice of the 65th Annual General Meeting for Sasini Limited.

Download N.S.E Announcement
   
  03-JAN-2017 ::  Appointment of Group Managing Director
  Appointment of Group Managing Director

Download N.S.E Announcement
   
  16-DEC-2016 ::  Profit Warning Announcement
  Profit Warning Announcement

Download N.S.E Announcement
   
 
Login / Register
 

 
 
Forgot your password? Register Now