21st February 2017
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Company Data
 
FTG Holdings Ltd
http://www.flametreegroup.com/
Par Value:                  
Closing Price:           5.15
Total Shares Issued:          161866804.00
Market Capitalization:        833,614,041
EPS:             1.1
PE:                 4.682
 

H1 Revenue 1.202089149b vs. 1.114323376b +7.876%
H1 Cost of sales [753.268442m] vs. [746.059485m] +0.966%
H1 Gross profit 448.820707m vs. 368.263891m +21.875%
H1 Selling and distribution costs [175.204317m] vs. [98.671692m] +77.563%
H1 Administrative expenses [123.335764m] vs. [124.586679m] -1.004%
H1 Operating profit before gain on disposal of property, plant and equipment 127.970077m vs. 95.790657m +33.593%
H1 Gain on disposal of property, plant and equipment 0.786620m vs.
H1 Finance costs [43.771777m] vs. [19.620598m] +123.091%
H1 Profit before tax 84.980920m vs. 76.170059m +11.567%
H1 Profit for the period 80.528312m vs. 81.211426m -0.841%
H1 Exchange differences on translation of foreign operations [9.814609m] vs. 36.877608m -126.614%
EPS 0.50 vs. 0.50
Shareholders funds 698.334070m vs. 525.875391m +32.795%
Cash and cash equivalents at the end of June 30th [105.677692m]

Company Commentary

diversified manufacturer and distributor of plastic tanks cosmetics and snacks
+34% EBITDA to 128.8m versus 95.79m

CEO Heril Bangera said FTGH delivered a strong performance in the first 6 months of 2016 in a very tough economic environment. The increase in total operating expenses is attributable to rigorous advertising and marketing campaigns geared to increase revenue in the plastics and FMCH divisions
In january 2016 the group acquired Suziebeauty line of colour cosmetic brand venturing into personal care prestige portfolio.

FTGH operates across two business verticals, manufacturing and trading, in six countries. Its strategy is to build a diversified portfolio of African manufactured brands for African consumers, covering plastics, cosmetics and food in multiple markets and verticals.

Conclusions

On a PE of 3.591 Thats seriously a price in disequilibrium.

FY Revenue 2.283151865b vs. 1.764847673b +29.368%
FY Cost of sales [1.476312127b] vs. [1.197755467b] +23.257%
FY Gross profit 806.839738m vs. 567.092206m +42.277%
FY Selling and distribution costs [260.515766m] vs. [150.530394m] +73.065%
FY Administrative expenses [244.278863m] vs. [219.906436m] +11.083%
FY Operating profit [loss] before gain on disposal of property, plant and equipment 259.016014m vs. 139.371325m +85.846%
FY Gain on disposal of property, plant and equipment 2.086323m vs. 61.338464m -96.599%
FY Profit [loss] before tax 198.387446m vs. 144.798997m +37.009%
FY Profit for the year 178.848086m vs. 153.126198m +16.798%
FY Exchange differences on translation of foreign operations 40.985924m vs. 7.027966m
EPS 1.10 vs. 0.95 +15.789%
Shareholders Funds 627.620367m vs. 407.786357m +53.909%
Cash and cash equivalents at the end of the year 13.684023m vs. 47.190220m -71.002%

From an accompanying hard copy release

Group Revenue for FY2015 +29%
FY EPS +37%
Manufacturing vertical 75% of Total Revenue
Heril Bangera we have made considerable progress on our strategic plans, to generate an 86% increase in our normalised operating profits. The Acquisitions made in foods, snacks and cosmetics capped off FY 2015 really well for us
acquisitions doubled the size of the Food Portfolio
Annual Net Sales for FY 2015 +29% to 2.28b

Conclusions

Strong Earnings. Good Headline growth and a very clearly defined strategy.

FTGH results: earnings per share increases 37% @coldtusker @kenyanwalstreet @alykhansatchu @BurbidgeCapital
https://twitter.com/FlameTreeGroup/status/725196973087834113
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: 20 Feb 2017
 
Downloads
 
  13-SEP-2016 ::  Opening of a New Tank Manufacturing Facility in Nampula, Mozambique.
  Opening of a New Tank Manufacturing Facility in Nampula, Mozambique.

Download N.S.E Announcement
   
  23-AUG-2016 ::  Consolidated financial statements for the period ended 30th June 2016.
  Consolidated financial statements for the period ended 30th June 2016.

Download N.S.E Announcement
   
  20-JUN-2016 ::  AGM Resolutions
  AGM Resolutions

Download N.S.E Announcement
   
  17-MAY-2016 ::  Notice of the 2nd Annual General Meeting
  Notice of the 2nd Annual General Meeting

Download N.S.E Announcement
   
  27-APR-2016 ::  Audited financial statements as at 31st December 2015.
  Audited financial statements as at 31st December 2015.

Download N.S.E Announcement
   
 
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