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
 
Unga Group Ltd.
n/a
Par Value:                  5/-
Closing Price:           32.75
Total Shares Issued:          75708872.00
Market Capitalization:        2,479,465,558
EPS:             4.32
PE:                 7.581
 

FY Turnover 19.528785b vs. 18.947944b +3.065%
FY Operating profit 201.800m vs. 714.328m -71.750%
FY Finance income 67.415m vs. 80.072m -15.807%
FY Finance costs [43.274m] vs. [45.241m] -4.348%
FY Foreign exchange losses [33.659m] vs. [11.075m] -203.919%
FY Profit before taxation 192.282m vs. 738.084m -73.948%
FY Profit for the year from continuing operations 86.665m vs. 511.476m -83.056%
FY Profit for the year from discontinuing operations [118.951m] vs. [2.660m] -4,371.842%
FY [Loss]/ Profit for the year [32.286m] vs. 508.816m -106.345%
FY [Loss]/ Profit attributable to owners of the parent 20.961m vs. 327.031m -93.591%
FY [Loss]/ Profit attributable to non-controlling interests [53.247m] vs. 181.785m -129.291%
Basic and diluted EPS 0.28 vs. 4.31 -93.503%
Basic and diluted EPS from continuing operations 1.85 vs. 4.35 -57.471%
Basic and diluted EPS from discontinuing operations [1.57] vs. [0.04] -3,825.000%
Total assets 10.267471b vs. 9.199783b +11.606%
Cash and cash equivalents at the end of the period 1.714755b vs. 1.102359b +55.553%
Dividend 1.00 vs. 1.00

Company Commentary

Sales volume +1.8%
Revenue increased +3%
Wheat +10% Porridge +6% maize -2.00%
Operating Profit declined by -71.7%
Kenyan business environment was characterised by maize supply challenges caused by the regional drought and crop disease impact.
Ugandan Subsidiary continued to be faced by a challenging business environment leading to an operating loss for the 3rd consecutive year
Bad Debt provisions and local currency depreciation against the Dollar significantly weakened its performance
The Board has reached a decision to cease milling operations...necessitated the reporting the Entity as a discontinuing operation.
The bakery business was negatively impacted by credit challenges facing the retail sector resulting in an exit from most Nakumatt stores where it had bakery implants and counters
Goodwill impairment of 151m
has reached an agreement with minority shareholders to purchase the entire 48% non-controlling interest in Ennsvalley Bakery limited
Group commissioned a state of the Art fish feed plant
Grain storage capacity was significantly increased

Conclusions

sharply weaker Year on Year Earnings.
very muscular Cash and Cash Equivalents position which is worth 22.64 a share!
NAV must be well North of 2.195b market Cap.

Unga Group Limited H1 2016 results through 31st December 2016 vs. 31st December 2015

H1 Turnover 10.246913b vs. 10.519764b -2.594%
H1 Operating profit 172.993m vs. 492.724m -64.890%
H1 Forex loss [29.783m] vs. [32.626m] -8.714%
H1 Profit before taxation 191.439m vs. 463.892m -58.732%
H1 Profit for the year 132.873m vs. 327.189m -59.390%
EPS 1.22 vs. 2.83 -56.890%
Total assets 10.209960b vs. 9.568280b +6.706%
Cash & cash equivalents at the end of the year 1.093590b vs. 0.653266b +67.403%
No interim dividend

Company Commentary

Revenue and profit before Tax declined by 2.6% and 58.7% respectively.
Flour volumes increased, maize flour and major animal category feed volumes reduced over prior year.
adverse climate that prevailed in the region during the first half of the financial year, and non-availability of quality maize grain posed a significant challenge in the ability quality maize grain posed a significant challenge in the ability to produce maize meal and animal feeds at full capacity and at competitive price.
high raw material costs and lower volumes resulted in reduced margins
general slow-down in demand and trading difficulties associated with the formal retail sector has affected the company's nutrition business in Kenya and Uganda.
Ugandan subsidiary continues to face challenges
Bakery business is undergoing a restructuring exercise
Maize grain shortage is expected to remain a major challenge for the remainder of the year

Conclusions

Sharply weaker H1 Earnings and they have issued a profits warning.
The accompanying commentary is quite granular in underlying the challenges.

FY Turnover 19.743564b vs. 18.723250b +5.449%
FY Operating profit 674.034m vs. 754.630m -10.680%
FY Other income 120.588m vs. 107.709m +11.957%
FY Foreign exchange losses [11.075m] vs. [186.402m] -94.059%
FY Profit before tax 734.401m vs. 635.695m +15.527%
FY Profit for the year from discontinued operations vs. 192.085m
FY Profit for the year 508.816m vs. 621.866m -18.027%
EPS 4.32 vs. 5.27 -18.027%
Total Assets 9.199783b vs. 8.635129b +6.539%
Cash and cash equivalents at the end of the period 1.102359b vs. 1.192705b -7.575%
Dividends 1 per share

Company commentary

Turnover and profit for the year from continuing operations increased by +5.4% and 18.4% respectively.
Operating profit was impacted by higher distribution and administration expenses, attributable to ICT system upgrades, human resources and brand equity building.
production of maize flour and porridge declined compared to the prior year shortage of quality maize grain in H2.
Final dividend of 1 a share

Unga Group Limited H1 2016 through 31st December 2015 vs. 31st December 2014
H1 Revenue 10.519764b vs. 9.651343b +8.998%
H1 Operating profit 492.724m vs. 409.764m +20.242%
H1 Foreign exchange losses [32.626m] vs. [52.088m] -37.364%
H1 Profit before tax 463.892m vs. 376.212m +23.306%
H1 Income tax expense [136.703m] vs. [115.014m] +18.858%
H1 Profit for the period from continuing operations 327.189m vs. 261.199m +25.264%
H1 Profit for the period from discontinued operations – vs. 151.042m
H1 Profit for the period 327.189m vs. 412.241m -20.632%
EPS 2.83 vs. 3.41 -17.009%
No interim dividend

Company Commentary

Operating Profit improved by +20% over prior year, driven by growth in sales volumes and further gains in conversion efficiency.
The decline in net Profit for the period is primarily attributable to the gain in the prior year from the disposal of the Groups investment in Bullpak limited
Depreciation of the Kenya and the Uganda Shilling against the US Dollar, resulted in significant foreign exchange translation losses.

Conclusions

The Organic growth story is veiled by the Non Repeat of the One Off Gain from the prior year

Unga Group Limited FY Earnings through 30th June 2015 vs. through 30th June 2014
FY Turnover 18.723250b vs. 17.002302b +10.1%
FY Operating profit 754.630m vs. 540.746m +39.6%
FY Other income 107.709m vs. 68.742m +56.7%
FY Finance costs [40.242m] vs. [26.003m] +54.8%
FY Foreign exchange losses [186.402m] vs. [15.750m]
FY Profit before taxation 635.695m vs. 567.735m +11.97%
FY Profit for the year from continuing operations 429.781m vs. 382.767m +12.3%
FY Profit for the year from discontinuing operations 192.085m vs. 91.727m +109.4%
FY Profit for the year 621.866m vs. 474.494m +31.1%
FY EPS 5.27 vs. 3.65 +44.4%
Final Dividend 1 shilling a share

Conclusions

Interesting business spanning Wheat, Fast Gro broiler feed range, Amana range of Pulses. reentered bakery sector by acquiring a majority
shareholding in Ennsvalley Bakery.
Grain silo facilities being rehabilitated
increasing grain storage capacity at its Eldoret Plant
strong Earnings and on a single digit PE

First Half Results through 31st December 2014 versus through Dec 2013 [restated]
First Half Revenue 9.651343b versus 8.836517b
First Half Operating Profit 409.764m versus 293.541m
First Half Other Income 169.579m versus 32.964m
Foreign Exchange Losses [52.088m] versus 4.263m
First Half Profit before Taxation 527.254m versus 330.768m
First Half Profit after Tax 412.241m versus 231.537m +78.045%
First Half Earnings Per Share 3.41 versus 1.96

Company Commentary

improved financial performance attributable to the full period impact of capacity and efficiency gains from the new wheat mill and gains from the sale of groups investment in Bullpak limited
Increased sifted maize meal volumes realised as a consequence of a 25% average decline in finished product prices
new route to consumer strategy for its kenyan human nutrition business
acquisition of majority shareholding in Ennsvalley Bakery limited is progressing towards completion.

Conclusions

Strong Earnings.

Full Year Earnings through 30th June 2014 versus through 30th June 2013
FY Turnover 17.002302b versus 15.142017b +12.3%
FY Operating Profit 540.746m versus 313.284m
FY Other Income 68.742m versus 101.462m
FY Finance Costs [26.003m] versus [8.950m]
FY Profit Before Tax 567.735m versus 389.458m
FY Profit for the Year from continuing operations 382.767m versus 264.773m
FY Profit for the year from discontinuing operations 91.727m versus 73.423m
FY Profit for the Year 474.494m versus 338.196m +40.3%
FY EPS 6.35 versus 2.59
The Board is pleased to recommend the payment of a first and final dividend of Shs. 0.75 per share, subject to approval by the shareholders at the Annual General Meeting to be held on 2 December 2014.

Company Commentary

gross profit increased by 33%, reflecting volume growth and processing improvements realised in the human nutrition sector.
Flour volumes grew by 10.9% volumes in the animal nutrition and health
sector increased by 9.8%.

Conclusions

Compelling Earnings.

6 months through 31st December 2013 versus through 31st Dec 2012
H1 Turnover 8.836517b versus 8.188051b +7.919%
H1 Operating Profit 261.496m versus 206.048 +26.91%
H1 PBT 298.723m versus 195.809m +52.55%
H1 Profit before minority interests 210.604m versus 137.916m
H1 Profit attributable to Shareholders 122.049m versus 84.914m
H1 EPS 1.61 versus 1.12 +43.75%

Company Commentary

The introduction of VAT on animal nutrition products resulted in reduced demand as farmers sought alternative sources of feed supply. Since maize meal and wheat flour are now exempt from VAT, the company is no longer able to claim back input VAT (they were previously zero rated) and has been placed under further margin pressure.
A new and more efficient wheat mill was commissioned at the Commercial Street site towards the end of the last calendar year. Several projects are ongoing towards improving animal feed diets to bolster our high quality product offering as well as restructuring of the route to market to bring us closer to our customers and improve consumer relations.
The cost of wheat products in Uganda was relatively higher than Kenya, following the introduction of 10% import duty on imported wheat grain, 18% VAT on finished product and 60% import duty on flour imports from Kenya. Consequently, informal imports from Kenya will pose an increasing challenge to the Ugandan subsidiary.
Following shareholder approval at the November 2013 AGM, the Company is divesting of its shareholding in Bullpak Limited. Meanwhile, the Company is progressing with its plans to invest in the premium end of the bakery product market.
The Directors do not recommend the payment of an interim dividend.

Conclusions

Strong Results.

Swot Analysis 6 Months to Dec 2011 versus 6 Months to Dec 2010
Turnover 8.420070b versus 6.263068b
Operating Profit 213.808m versus 356.544m
PBT 344.261m versus 366.694m
PAT 149.027m versus 146.704m
EPS 1.97 versus 1.94

Conclusions

On a PE Basis its a very cheap share.

Swot Analysis FY to June 2011 versus June 2010
Turnover 13.214442b versus 11.524454b
Gross Profit 1.677079b versus 1.220185b
Net Foreign Exchange Losses [183.175m] versus [77.33m]
PAT 441.043m versus 236.173m +86.745%
EPS 3.57 versus 1.81
0.75 Final Dividend

Conclusions

Strong FY Results. Dividend Yield of 7.14% and a PE of 2.9411 Looks compelling

Swot Analysis FY to June 2011 versus June 2010
Turnover 13.214442b versus 11.524454b
Gross Profit 1.677079b versus 1.220185b
Net Foreign Exchange Losses [183.175m] versus [77.33m]
PAT 441.043m versus 236.173m +86.745%
EPS 3.57 versus 1.81
0.75 Final Dividend

Conclusions

Strong FY Results. Dividend Yield of 7.14% and a PE of 2.9411 Looks compelling
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
 
  07-NOV-2017 ::  AGM Notice
  Notice of Annual General Meeting 2017.

Download N.S.E Announcement
   
  29-SEP-2017 ::  Full Year Results
  Audited Financial Results for the Year Ended 30 June 2017.

Download N.S.E Announcement
   
  24-FEB-2017 ::  Unaudited Financial Results for the Six Month Ended 31st December 2016 & Profit Warning Announcement.
  Unaudited Financial Results for the Six Month Ended 31st December 2016 & Profit Warning Announcement.

Download N.S.E Announcement
   
 
Login / Register
 

 
 
Forgot your password? Register Now