Tuesday, August 15, 2006

Unga Group: a smart investment today?

Unga group has been trading at between 14 - 20 for 12 months now. The low share price is a reflection of the financial situation; the company has been undergoing some restructuring since 2001. Last year, they posted 73m in profits after several years of loss making. However, they suffered a blow this year when they put up a profit warning in March. Apparently, they expected their current year earnings to be hit but as much as 35m largely because of the collapse of uchumi and the draught in the 3rd quarter of the year ending 30th June.

Uchumi having been revived and the honored part of the debt, Unga should be firmly on the recovery path started in 2005. Thier earnings are expected not be much affected by the Uchumi saga as al the debt will be recovered in cash or uchumi preference shares. the share price is likely to apreaciate from the current 15 to 22-25 once the results are out in a feew weeks time.

I considere this to be a good stock for short term capital gain. putting my money where my mouth is!!

30 Comments:

Anonymous Anonymous said...

thanks for ur insight, i also concur that its a good buy for the short term or if u r able to hold until march next year. after all its a cheap buy hence the return would be satisfying even with a small gain on the share price. i just hope kengen will announce earlier so that i can sell & buy unga. thanks again

11:16 AM  
Blogger mwasjd said...

anon: do you mean that Kengen will announce improved numbers, which will make their price move up?

gathinga: interesting blog, quite informative. I've marked it, but still quite tricky about Unga, hope that the recent rains will result in a bumper harvest (as I've been informed) resulting in improved figures.

12:56 PM  
Anonymous Obie said...

I'd recently sold mine at a small loss to buy scangroup but I'm considering buying back so that I can get my money back from the same company.
BTW oversubscription in the scangroup IPO left only the proxy smart individuals still smiling.

PS: Very informative blog. Kudos

9:32 AM  
Blogger gathinga said...

Unga: Time to sell now at 19 -20. I see it coming down again after the results.

11:55 AM  
Anonymous Anonymous said...

it is a share to buy and chill for the gains it has credible people behind it and is a matter of time before it rises,seaboard corporation which took over management has experience in similar business in the US

1:17 PM  
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