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Satchu's Rich Wrap-Up
 
 
Thursday 14th of February 2013
 
Morning
Africa

Register and its all Free.

If you are tracking the NSE Do it via RICHLIVE and use Mozilla Firefox
as your Browser.
0930-1500 KENYA TIME
Normal Board - The Whole shebang
Prompt Board Next day settlement
Expert Board All you need re an Individual stock.

I thank Brenda Mbathi and Devlin Hainsworth of EABL for the Invitation
yesterday to Dinner with The COO Diageo Ivan M. Menezes and Members of
the Executive Committee including Nick Blazquez President, Africa,
Turkey, Russia & Eastern Europe, Diageo plc,  David Gosnell President,
Global Supply and Procurement, Diageo plc, Siobhan Moriarty General
Counsel Designate, Diageo plc amongst others.

read more



Ivan Menezes Chief Operating Officer, Diageo plc
Africa


Nick Blazquez - Interview with Aly Khan Satchu – 6 November 2012
http://www.rich.co.ke/rcfrbs/docs/Interview%20with%20Aly%20Khan%20Satchu%20FINAL.pdf

Nick Blazquez meets a shareholder at the EABL AGM
http://www.twitpic.com/b9dt5a

The Latest Daily PodCast can be found here on the Front Page of the site
http://www.rich.co.ke

@JohnGithongo #Mindspeak Saturday 16th February @InterConNairobi
http://www.twitpic.com/c2ghj7

#Mindspeak is at the @InterConHotels #Nairobi Twitpic
http://www.twitpic.com/bk14sw

Macro Thoughts

Home Thoughts

Happy Valentine's Day Makeup is applied at 2 A.M. for Nada’s wedding.
Photograph by Shannon Jensen (@shannonje) Photo Booth
http://www.newyorker.com/online/blogs/photobooth/2013/02/slide-show-across-the-continent-with-everyday-africa.html#slide_ss_0=12

Early Morning Ole Sereni Twitpic
http://www.twitpic.com/c386uh

read more


New Report: Brennan’s ‘Black Ops’ In Libya Caused “Benghazigate”, Stevens Death
Law & Politics


According to a new investigative book published by two former US
special operations soldiers, and serialised exclusively in yesterday’s
Daily Mail, former CIA Director, David Petraeus, was blackmailed by
two senior CIA officers into resigning and was made to publicly admit
to his affair with intelligence operative Paula Broadwell. Of course,
this angle of the story will surely drive book sales, but it’s not the
most significant revelation in the story

In their book which is due to be release tomorrow entitled, Benghazi:
The Definitive Report, authors Jack Murphy (Army Green Beret) and
co-author Brandon Webb (Navy SEAL and friend of Glen Doherty who died
in the Benghazi siege) also revealed that ‘Drone-Master J’, John O.
Brennan - President Barack Obama’s current CIA Director nominee who
was the President’s own deputy NSA advisor at the time, had been
authorizing covert ‘unilateral operations outside of the traditional
command structure’, using the Pentagon’s Joint Special Operations
Command (JSOC) across Libya and North Africa. It is Brennan’s black
ops that are said to have prompted retaliation inside Libya that led
to the September 11 Benghazi compound siege that killed four
Americans, including ‘Ambassador’ Chris Stevens and three other
Americans.

According to the Daily Mail, Webb and Murphy’s book does document that
“Stevens likely helped consolidate as many weapons as possible after
the war to safeguard them, at which point Brennan exported them
overseas to start another conflict”.

Chris Stevens was CIA point man for running illegal guns out of Libya
via Turkey into Syria for the Free Syrian Army (FSA)

Conclusions

Benghazi was and remains very murky, indeed.

read more


Currency Markets at a Glance WSJ
International Trade


Euro 1.33929 France’s GDP shrank 0.3 percent in the fourth quarter
Dollar Index 80.16
Japan Yen 93.54
Swiss Franc 0.9178
Pound 1.5515 lowest level since Aug. 3.
Aussie 1.0352
India Rupee 53.835
South Korea Won 1083.90 djfxtrader: Bank of #Korea Keeps Base Rate
Unchanged At 2.75%; May Cut Rate in Coming Months #KRW
Brazil Real 1.9647
Egypt Pound 6.7291
South Africa Rand 8.8572

Japan’s currency has tumbled 17 percent in the past three months, the
worst performer among 10 developed-nation currencies tracked by
Bloomberg Correlation-Weighted Indexes. The dollar declined 1.8
percent and the euro rose 4.3 percent.

Sterling 5 Day Chart INO 1.5515 Last
http://quotes.ino.com/charting/index.html?s=FOREX_GBPUSD&v=w&t=c&a=2&w=15

Sterling has tumbled 4.7 percent this year, the second- worst
performer after the yen among 10 developed-market currencies tracked
by Bloomberg Correlation-Weighted Indexes. It strengthened 2 percent
in 2012.

Conclusions

I had been saying for a while it was all set to wobble.

Bank of England Governor Mervyn King said U.K. growth is likely to be
weak and the economy faces “big challenges.”
http://www.bloomberg.com/news/2013-02-13/pound-is-little-changed-before-boe-publishes-inflation-re.html

King said at a press conference in London that there were “limits” to
what policy makers could achieve.

“If necessary, we will do more,” King said. “We must recognize,
however, that there are limits to what can be achieved via general
monetary stimulus -- in any form -- on its own. Monetary policy works,
at least in part, by providing incentives to households and businesses
to bring forward spending from the future to the present.”

Dollar Yen 3 Month Chart INO 93.55 Last
http://quotes.ino.com/charting/index.html?s=FOREX_USDJPY&v=d3&t=c&a=50&w=1

djfxtrader: #Japan Cabinet Office: Drop in Oct-Dec Imports Sharpest
Since April-June 2009; On-Year Drop in Oct-Dec Deflator Smallest in 13
Quarters
djfxtrader: #Japan Econ Min Amari: Some Econ Weakness May Remain for
Time Being; Expect Econ To Recover Gradually, Partly on BOJ Easing
djfxtrader: #Japan Oct-Dec Real GDP -0.1% Q/Q; Consensus +0.1%
Japan’s GDP contracted an annualized 0.4 percent in the three months
through December, following a revised 3.8 percent contraction in the
previous quarter, the Cabinet Office said today.
former Bank of Japan Deputy Governor Kazumasa Iwata said the currency
needs to correct further to fight deflation. Iwata’s comments came
after the government reported the economy unexpectedly shrank an
annualized 0.4 percent last quarter due to falling exports and a
decline in business investment.

Conclusions

Its headed to 100.00 but I expect Big Swings and News Headline driven Trading.

Euro versus the Dollar 3 Month Chart 1.33929 Last
http://quotes.ino.com/charting/index.html?s=FOREX_EURUSD&v=d3&t=c&a=50&w=1

Dollar Index 3 Month Chart INO 80.164 Last
http://quotes.ino.com/charting/index.html?s=NYBOT_DX&v=d3&t=c&a=50&w=1

Nestle $2-a-Shot Nespresso Propels Premium Brand Profit Bloomberg
http://www.bloomberg.com/news/2013-02-12/nestle-2-a-shot-nespresso-propels-premium-brand-profit.html

Nestle SA has found something even better than single-serve coffee
costing twice as much as ground java: a version that costs eight times
as much.

While consumers worldwide rein in spending, the Swiss company in
October introduced Hawaii Kona Special Reserve, a limited edition
coffee for its Nespresso machines. At $2 a shot, it cost four times
the price of regular Nespresso. It sold out within weeks, and the
company says more such offerings are in the works.

The Kona brew is part of a broader push upmarket that has helped the
world’s largest food company boost profitability beyond that of rivals
such as Unilever and Danone. Analysts say the effort helped Nestle’s
2012 sales growth exceed the company’s annual target of about 6
percent.

Under Chief Executive Officer Paul Bulcke, the company has accelerated
the introduction of such products to give consumers a reason to stick
with Nestle brands such as Nespresso, Moevenpick ice cream and Maison
Cailler chocolate rather than defect to private labels.

“Nestle is probably more advanced than others in its quest for
premiumization,” said Marco Gulpers, an analyst at ING in Amsterdam.
“The move is clearly away from the middle where you have private label
competing with brands.”

Nestle’s revenue probably increased 6 percent in 2012, excluding
acquisitions, divestments and currency shifts, according to the
average of 11 analyst estimates. When it releases its 2012 results
tomorrow, the company will say higher- end products such as Nespresso
have helped boost profitability, analysts predict.

Nestle shares have gained 8.3 percent this year and 20 percent over
the past 12 months. The stock traded 0.5 percent higher at 64.60
francs at 1:36 p.m. in Zurich. A close at that level would be a
record. Aside from a dip at the end of last year, Nestle has had a
higher price-earnings ratio than rival Unilever since 2006. The
company trades at 22 times earnings, while Unilever is at 18 times.

Nestle has expanded the beverage-machine concept behind Nespresso,
which makes coffee from grounds delivered in an aluminum pod. In 2011,
the company added BabyNes, infant formula reconstituted in a 249-Swiss
franc ($271) machine from capsules costing about 2 francs per serving.
And in 2010 it introduced Special-T, a machine that makes more than 25
types of portioned tea from capsules costing as much as 20 euros for
10 pods.

Nestle’s Maison Cailler brand offers chocolates that shoppers can
customize with fillings ranging from peppercorn and vanilla to
raspberry and verbena. Prices start at about 20 francs for a box of 16
pieces. And it’s expanding its network of boutiques selling Moevenpick
ice cream for almost $5 a scoop.

Unilever last month said revenue excluding acquisitions and currency
shifts at its food division expanded 1.8 percent last year to 14.4
billion euros ($19.3 billion) with growing sales of products such as
Flora Cuisine liquid margarine, which costs about twice what standard
sunflower oil does. Kraft Foods Group Inc. and its spinoff Mondelez
International Inc. have introduced more expensive versions of
Philadelphia cream cheese, including one with Milka chocolate.

Nestle gets about 15 percent of revenue from high-end beverages and
snacks, versus less than 10 percent five years ago, according to Jon
Cox, head of Swiss research at Kepler Capital Markets in Zurich. For
Unilever, the high end represents about 10 percent of sales and at
Mondelez it’s about 5 percent, Cox said.

Since taking over from Peter Brabeck-Letmathe five years ago, CEO
Bulcke has continued Nestle’s commitment to other high- margin
businesses. Nestle in April agreed to buy Pfizer Inc.’s
infant-nutrition unit for $11.9 billion, boosting the Swiss company’s
revenue from fast-growing emerging markets. And two years ago it set
up a health-science unit to develop personalized nutrition treatments
for conditions such as diabetes, obesity or heart disease.

“Nestle already had the nutrition, health and wellness mantra, then
Bulcke came in and said, ‘and premiumization,’ and it’s getting
ingrained into the culture,” Cox said.

Nestle’s trading operating margin, a measure of profitability, rose to
15.3 percent from 15 percent in 2011 and 14.4 percent a year earlier,
analyst estimates show. The company, based in Vevey, Switzerland, has
said it aims to improve the margin each year based on constant
currencies.

Unilever last month reported a core operating profit margin of 13.8
percent for 2012. Danone has forecast that its operating margin
narrowed by a half percentage point last year from 14.7 percent in
2011.

Nespresso is the biggest contributor to Nestle’s upscale effort. The
brand had revenue of 3.5 billion francs in 2011, or 4 percent of
Nestle’s sales. The fastest-growing regions for Nespresso and Dolce
Gusto are Asia, Africa and Oceania, where the opportunity for premium
sales is “huge”

Conclusions

Nestle is an outstanding Business. The Premiumisation Story is also a
compelling one across the World.

Nestle reports Earnings here Bloomberg
http://www.bloomberg.com/news/2013-02-14/nestle-reports-slowest-annual-sales-growth-in-three-years.html

Revenue advanced 5.9 percent excluding acquisitions, disposals and
currency shifts, the Vevey, Switzerland-based company said today.

Sales advanced 8.4 percent on a so-called organic basis in the Asia,
Oceania and Africa region in the full year, slowing from the 9.4
percent pace in the first nine months.

Nestle Chief Executive Officer Paul Bulcke said the company is
confident about reaching its long-term target of 5 percent to 6
percent annual sales growth this year, despite the “many challenges
2013 will no doubt bring.”

Net income rose 12 percent to 10.61 billion francs ($12 billion), more
than the 10.4 billion-franc average estimate.

The trading operating margin widened 0.2 percentage point to 15.2
percent in 2012.

Revenue from Nestle’s Europe business increased 1.8 percent on an
organic basis, boosted by demand for Nescafe Dolce Gusto coffee and
Maggi cooking products. Revenue from the emerging markets rose 11
percent and reached 43 percent of total sales. The company has a goal
of that proportion reaching 45 percent in 2020.

Nestle said it plans to raise its dividend 5.1 percent to 2.05 francs
a share this year.

Nestle share Price data via Bloomberg
http://www.bloomberg.com/quote/NESN:VX

64.5000 CHF 0.2500 +0.39%

read more




Dollar versus Rand 5 Day Chart INO 8.8573 Last
Africa


Egypt Pound versus The Dollar 3 Month Chart INO 6.7281 Last
http://quotes.ino.com/charting/index.html?s=FOREX_USDEGP&v=d3&t=c&a=50&w=1

Diesel shortage pushes Egyptians to the brink Reuters
http://www.reuters.com/article/2013/02/13/us-egypt-diesel-idUSBRE91C0RO20130213

Fathy Ali is beyond anger as he queues for hours in a line of 64
trucks and buses to fill his tank with scarce subsidized diesel fuel,
known in Egypt as "Solar."

"This has become part of my life. I come and wait for hours or days,
depending on my luck," the chain-smoking bus driver said at a besieged
gas station on Cairo's Suez High Road, wrapped in a scarf and thick
coat for the long ordeal. "At the start it used to upset me a lot but
now I've kind of given up."

Diesel supplies are drying up as a cash-strapped government struggles
to cap a mounting bill for subsidies it has promised the IMF it will
reform to secure an elusive $4.8 billion loan desperately needed to
keep a sagging economy afloat.

The situation appears near breakdown with growing shortages,
unsustainable subsidies and foreign exchange reserves running out,
raising the risk that fuel bottlenecks lead to food shortages and pose
a risk to political stability.

Foreign reserves are down below $15 billion, less than three months'
imports, despite deposits from Qatar and Turkey. The Egyptian pound
has lost 8 percent of its value this year and a black market has
emerged for hard currency.

The nation's strategic reserve of diesel fuel is down to three days'
supply, the official MENA news agency quoted a government official as
saying last week. Bakeries that use diesel to make staple subsidized
bread have been told to keep 10 days' fuel supply but not all have the
capacity.

Minister for Petroleum and Mineral Resources Osama Kamal said
subsidizing Solar, sold at a give-away price of 1.25 Egyptian pounds
($0.19) a liter, costs the government $35 million a day.

Until Tuesday evening, when the diesel shortage became the number one
topic of television and radio talk-shows, the government seemed to be
in denial.

"There is no shortage," Kamal said. "There is a crisis in the
distribution of Solar, not in the availability of it."

Asked whether a shortage of hard currency was constraining fuel
imports, he said: "Financial resources are still available for imports
but they must be reserved for the most important priorities."

The daily al-Ahram quoted drivers complaining about the emergence of a
black market in which a liter of diesel is sold at double the normal
price.

Conclusions

Its teetering on the Edge, I am afraid.

Tsvangirai says Zimbabwe elections expected in July Yahoo News
http://news.yahoo.com/tsvangirai-says-zimbabwe-elections-expected-july-170620615.html

 When questioned about the date for the elections at a human rights
forum to discuss the constitution approved by parliament last week,
Tsvangirai said simply "July".

ZANU-PF's chief spokesman Rugare Gumbo said the timetable Tsvangirai
outlined was in line with the framework Mugabe, the 88-year-old
political veteran who has ruled the country since independence from
Britain in 1980, was working around.

"That time frame is in tandem with what we as a party have been
working with, but the confirmation and actual dates will be fixed by
the president," he told Reuters.

 "I am not budgeting for chaos. I am certainly bullish about the way
things will go in the elections," he said, adding that human rights
watchdogs should not be overly worried over isolated incidents of
intimidation and harassment.

A confident Tsvangirai said he was looking forward to the end of the
government of national unity (GNU) as it had limited capacity to fix
an economy.

The economy has recovered slightly due to political stability brought
about by the power-sharing deal after being crushed about five years
ago by hyperinflation.

"I don't expect the next elections to produce a hung parliament. Four
years of this GNU have been torture and I do not wish for another
GNU," he said.

Conclusions

President Mugabe will win.

Cyrus Kabiru: The C-Stunners March 1st - 9th 2013 Los Angeles via EdCrossFineArt
http://edcrossfineart.com/news/21/

read more


Kenya: India 'To Respect Wish of Kenyans' All Africa
Kenyan Economy


High Commissioner Sibabrata Tripathi said his country did not have a
policy of alienating a country where leaders had been democratically
elected.

Speaking in Embu when he paid a courtesy call on County Commissioner
Hellen Kiilu, the envoy assured that his country had confidence in the
current electoral process and expressed optimism that Kenya would hold
a free and fair election.

"As the representative of the world's most populous democracy, I would
only wish Kenya and its people well as they embark on this very
historic elections coming after the promulgation of the most
progressive constitution that the world is aware of at this moment,"
he said

"We are fully comfortable with the fact that Kenyans will choose
whoever they want to chose through the ballot. And we will work with
the government of Kenya consistently," Tripathi added.

He said his country had strong business and social ties and was keen
on maintaining the friendship even after President Mwai Kibaki
retires.

Tripathi said his country would not be influenced by countries which
had indicated they would shun the country if candidates facing charges
at the ICC were elected and called on the international community to
respect the right of Kenyans to elect their preferred candidates.

"The choice will be that of Kenyans and they must be allowed to
exercise their right. India will not issue any sanctions and will
always allow people to visit us," he affirmed.

Conclusions

@BarackObama 's Message to Kenyan People and a Tsunami of Messaging The Star
http://www.rich.co.ke/media/docs/alykhan.pdf

Habari Yako started President @BarackObama 's Message to the Kenyan
People delivered via a Podcast, earlier this week. The President
continued to say

''The choice of who will lead Kenya is up to the Kenyan people. The
United States does not endorse any candidate for office, but we do
support an election that is peaceful and reflects the will of the
people.''

And then signs off in his inimitable style with

''And I say to all of you who are willing to walk this path of
progress-you will continue to have a strong friend and partner in the
United States of America. Kwaheri.''

Coincidentally and on the very same Day, The British High Commissioner
to Kenya Dr. Christian Turner said:

'“The UK will remain impartial. What is important to us is not who
wins the general election but how he wins the polls” and then Via
Twitter reiterated that ''Whoever wins election, ongoing Kenyan
co-operation with ICC essential.''

And Then on Friday Johnnie Carson The Assistant Secretary of the
Bureau of African Affairs on U.S.--Africa foreign policy weighed in

"Choices have consequences, We live in an interconnected world and
people should be thoughtful about the impact that their choices have
on their nation, on the region, on the economy, on the society and on
the world in which they live. Choices have consequences.”

Carson Speaking to Kenyan journalists from Washington via video link
warned that as much as the general election is a Kenyan affair, its
outcome will have implications since a president "must work with the
international community."

The French Ambassador to Kenya Etienne De Poncins added on Friday that

"France will stick to the EU stand to respect the ICC, and the member
countries in relation to ICC suspects."

What is an absolute Truth is that Kenyans have the absolute right to
vote for whomsoever we wish to vote for.

Now How do we parse this Deluge of Comments? We self-referred
ourselves to The ICC with our Mantra 'Don't be Vague Let's go to The
Hague.' So The Idea that this is an Evil Conspiracy hatched outside
Kenya does not stack up. We self-selected the ICC. Interestingly, The
Myth around the ICC has consolidated the Vote on a Tribal Basis. And
The Messages we heard last week from our Western Partners has only
consolidated it further. In fact, it's very counterintuitive but
Commentary from The West has actually snagged Votes for Uhuru Kenyatta
and William Ruto and My Analysis now shows They have a Shot at taking
this Lock, Stock and Barrel in the 1st Round,

The Sanctions risk is [in my View] only triggered if having won the
Popular Mandate the newly minted President and His Deputy decide to
skip the ICC Process. And whilst Many Folks Tend to pose the Question
back to me

'Would You go, Aly-Khan?'

I will take Mr. Kenyatta at his Word. He wins big and confounds
everyone by making his Way to the Hague.

By Way of Contrast, China had already stated the Following “No matter
who is elected, the Chinese Government is willing to work with the
Kenyan Government,” said Chinese Embassy to Kenya Chief of
Communications and Public Affairs Shifan Yu.

It is clear that China is willing to work with whomever and that can
be taken to The Bank. President Omar Al-Bashir has been relying on
China's Guarantee for quite a while now. It has not been a Road strewn
with scented Rose Petals for Khartoum, however.

The Stock Market has been roaring in 2013. The Nairobi All Share is at
a more than 5 Year High and +13.24% so far in 2013. Kenya Commercial
Bank +19.3227% in 2013, EABL +15.849%, ScanGroup +8.7591% in 2013 are
all at Record Highs. BAT is +9.775% in 2013 and just 0.185% off a
Record, Nation Media is +19.457% and just 0.3773% off a Record. One
Session last week, The Securities Exchange traded over 2b shillings
which is a rocket fuelled session any which way You care to cut it.

Time and again I heard him say, "Well, this is a bull market, you
know!" as though he were giving to you a priceless talisman wrapped up
in a million-dollar accident-insurance policy. And, of course, I did
not get his meaning. Reminiscences of a Stock Operator published in
1923.

Political Barometer Survey: Post-Presidential Debate Poll Prepared by
Ipsos Synovate Kenya Release Date: 13th February 2013Look at P.36
@@IpsosSynovateKe
http://www.rich.co.ke/rcfrbs/docs/Post_Debate_Poll_February_2013.pdf

Undecided respondents Who they going to vote for as the fourth
president of Kenya?
Uhuru Kenyatta
44%
Peter Kenneth
17%
Raila Odinga
16%
Musalia Mudavadi
6%
Martha Karua
4%
Undecided /
6%

Via Ipsos Synovate Kenya @IpsosSynovateKe #KeDebate13IpsosPoll UK
converted 3% to support him, RAO lost 3% (based on those who watched
#KeDebate13)

India topples UAE as chief exporter of goods to Kenya Business Daily
http://www.businessdailyafrica.com/India-topples-UAE-as-chief-exporter-of-goods-to-Kenya/-/539552/1693492/-/12ega9xz/-/index.html

India has overtaken the United Arab Emirates (UAE) to become Kenya’s
top source of imported goods, newly released data show.

The world’s second most populous nation grew its exports to Kenya by
27.1 per cent to Sh174.6 billion in the first 11 months of last year
or 15 per cent of Kenya’s total imports.

India’s stride to the top spot came on the back of big-ticket
contracts in healthcare and energy sectors that were concluded in the
past 12 months.

The Indian High Commission in Nairobi said Indian investors had
intensified their search for business opportunities in Kenya and that
the effort was bearing fruit.

“Kenya has become an important market for Indian firms and most have
intensified their search for business opportunities with very positive
results,” said Tanmaya Lal, the deputy High Commissioner at the Indian
embassy.

China also grew its exports to Kenya by 16.4 per cent to Sh154.7
billion beating the UAE to the third position.

Chinese goods now account for 13.3 per cent of Kenya’s total imports,
affirming the rise of Asia as an important trading partner for East
Africa’s largest economy.

Conclusions

Informs India and China's Perspective on the Elections, I venture.

EABL share price data here +18.867% 2013 Record High reports H1
Earnings tomorrow Pre-Opening
http://www.rich.co.ke/rcdata/company.php?i=MzQ%3D

Par Value:                  2/-
Closing Price:           315.00
Total Shares Issued:          790774976.00
Market Capitalization:        249,094,117,440
EPS:             13.46
PE:                 23.403

FY 2012 versus FY 2011
Consolidated Income Statement
Revenue 55.522166b versus 44.895037b +23.67105522%
Cost of Sales 28.657047b versus 22.828144b +25.533845%
Gross Profit 26.865119b versus 22.066893b +21.74400356%
Other Income 3.797208b versus 0.320673b +1084%
Administration Expenses 7.450204b versus 6.474500b +15.069951%
Finance Costs 4.562537b versus 0.272156b +1576%
Full Year Profit Before Tax 15.253049b versus 12.258989b +24.42338434%
Full Year Profit After Tax 11.186113b versus 9.023660b +23.9642561%
Earnings Per Share 13.46 versus 9.30 +44.731182%
Borrowings 19.982236b versus 3.917688b
Final Dividend 6.00 shillings a share Unchanged
Final + Interim = 8.50

Via The Investor Relations Briefing Document
In this Region since 1922
TBL Share Gain 3.646339b
Beer Net Sales +21%
Uganda Net Sales +38%
Tanzania Net Sales +76%
EABLi Net Sales +30%
CAPEX Investment Moshi Brewery, Uganda Mash Filter, Kenya Canning Line
Tusker +17%
Guinness +23%
Serengeti Beer +49%
Senator +53%
Johnnie Walker +74%
Spirit Net Sales +47%
Premiumisation
Female Opportunity

An interview with Devlin Hainsworth CEO EABL Post FY Earnings Release
last Year RICH TV
http://www.rich.co.ke/rctools/richtvi.php?d=MjAxMi0xMi0zMQ%3D%3D

read more



Seni Adetu was my Guest at #Mindspeak now CEO Guinness Nigeria RICH TV
Kenyan Economy


Seni Adetu at #Mindspeak #EABL #Tusker Lite @InterConNairobi #Africa
2.0 Diageo Twitpic
http://www.twitpic.com/7k0cbe

Tullow @TullowOilPLC eyes first commercial oil for Kenya Reuters
http://www.reuters.com/article/2013/02/13/tullow-results-idUSL5N0BD1R520130213

Tullow Oil Plc released a set of Kenyan well test results on Wednesday
which it said could lead to the country's first commercial production.

Tullow, which has been under pressure to deliver some good drilling
news after a disappointing trading update in January, said results
from its Twiga South-1 well showed "the first potentially commercial
flow rates achieved in Kenya."

Four flow tests were carried out on Twiga South-1 in January and early
February and a fifth test is ongoing, Tullow said, predicting a total
combined flow rate of over 2,850 barrels of oil per day for the well
in western Kenya.

"That's better than the 500 barrels a day... they discussed as an
expectation," said Macquarie analyst Mark Wilson. "They've pulled a
rabbit out of the hat there on operational progress."

Energy Ministry Permanent Secretary Patrick Nyoike welcomed the
development. "There will be more focus on Kenya as a potential oil
producing country," he said.

The tests also provide "real encouragement" for Ngamia, another Tullow
prospect in Kenya's Rift Basin, the company said.

The Weatherford-804 rig that was drilling at Twiga South-1 will now
move to Ngamia-1A to re-enter the well there and perform four flow
tests.

Tullow said these tests are expected to deliver rates similar to Twiga South-1.

To temper expectations Tullow said it will require considerably more
exploration and appraisal before the commercial threshold for the
basin is achieved.

Another keenly-watched prospect in its Kenya-Ethiopia portfolio, the
Paipai-1 well, encountered "difficult hole conditions" Tullow said. It
hopes to draw some conclusions on it by the end of February.

Africa Oil is a partner at Twiga South-1 and Afren Plc is a partner at PaiPai.

A $701 million pretax gain from the sale of part of its Ugandan
operations to large international oil companies CNOOC and Total to
help fund its exploration programme was largely offset by $671 million
of writedowns and by higher operating costs in mature fields.

Conclusions

Those Results were better than expected.

Barclays Kenya eyes income growth from Absa tie-up Reuters
http://www.reuters.com/article/2013/02/13/bbk-earnings-idUSL5N0BD0XZ20130213

Barclays Kenya expects to grow income by drawing on the resources and
experience of Absa Group after the two businesses are integrated, the
incoming head of the Kenyan business said on Wednesday.

Parent company Barclays decided to merge its Africa operations last
year to increase the share of profit from the operation, which
accounts for about 8 percent of the British bank's global business.

"The integration with Absa as we move forward is going to bring new
capabilities which we are going to be able to leverage ... to drive
future income growth," Jeremy Awori told reporters after an investor
briefing.

"The numbers were very defensive. The bank's model is not a high
growth model," said Aly Khan Satchu, an independent trader and
analyst. Both Equity and KCB routinely post high double-digit profit
growth.

Mohamed said he expected the bank to benefit from the integration with
Absa but ruled out a radical change to strategy. "The risk philosophy
and portfolio is not going to change. If the macro-environment changes
for the better, then you will see us do more business" he told
reporters.

Barclays Bank prepares for another round of layoffs Business Daily
http://www.businessdailyafrica.com/Corporate-News/-/539550/1693474/-/ymiv4d/-/index.html

“As we embark on restructuring, we will take some actions such as
redeployment of staff. It is those who will not find a position in
this exercise that will be released,” the bank’s outgoing managing
director, Adan Mohamed, said.

He added that the fate of those to be declared redundant was the
subject of continuing discussions with unions.

“We have recently been in contact over the matter of pending
retrenchments at Barclays. But we need to see what they are floating
as compensation for those who will leave before we can move forward,”
Bankers, Insurance and Finance Union (BIFU) secretary- general Isaiah
Kubai said.

Barclays Bank share price data and FY 2012 Earnings Release here
http://www.rich.co.ke/rcdata/company.php?i=MTQ%3D

Par Value:                  2/-
Closing Price:           16.15
Total Shares Issued:          5431540000.00
Market Capitalization:        87,719,371,000
EPS:             1.61
PE:                 10.031

FY Results through Dec 2012 versus Dec 2011
FY Profit Before Tax 13.019744b versus 12.070555b +7.86367%
FY Profit After Tax 8.740703b versus 8.112637b +7.741%
FY Earnings Per Share 1.61 versus 1.49 +8.0536%
FY Dividend 70 cents a share
[Barclays paid an Interim of 30cents a share]

Conclusions

Barclays has reported a +7.741% FY PAT Increase.
The Loan Loss Provision of 80.186% was helpful
The Total Dividend Pay Out inclusive of the Interim is 1 shilling a share.
The Dividend Pay Out Ratio is 62.111%
The Final Dividend is worth 4.334% of Yield and will underpin the
Price after todays Drawdown.

Kenya Shilling versus The Dollar Live ForexPros
http://j.mp/5jDOot

Nairobi All Share Bloomberg  +15.433% 2013
http://www.BLOOMBERG.COM/quote/NSEASI:IND

Nairobi ^NSE20 Bloomberg +12.4606% 2013 a 27 Month High
http://j.mp/ajuMHJ

Every Listed Share can be interrogated here
http://www.rich.co.ke/rcdata/nsestocks.php

read more



 
 
by Aly Khan Satchu (www.rich.co.ke)
 
 
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February 2013
 
 
 
 
 
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