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  #81 (permalink)  
Old 2nd November 2009, 07:52 PM
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Default Re: unilever

UNILEVER NIGERIA PLC INTERIM REPORT FOR THE PERIOD NINE MONTHS ENDED 30TH SEPTEMBER 2009 (THIRD QUARTER)

2009 2008 %CHANGE

N'b N'b
TURNOVER 32.586 27.951 16.58
PROFIT BEFORE TAXATION 5.476 2.425 125.81
TAXATION (N1.610b) (N731m) (120.24)
PROFIT AFTER TAXATION 3.865 1.694 128.15
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  #82 (permalink)  
Old 2nd November 2009, 08:40 PM
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Default Re: unilever

Quote:
Originally Posted by pumping View Post
Somehow I've not taken any note of this stock. I has never been in my radar. I was just surprised to note today that it actually moved from N10 (July) to N17 (August) before settling down at around N15. That is some decent recovery.
I have had it on my radar. Wish I had bought more instead of bank shares. I expect it to hit 25 naira @ this rate.

The new MD is very good. They have relaunched almost all their products. They seem to understand the Nigerian market. They have blue band in sachets. Sunlight soap has been relaunched. I expect a lot more in terms of dividends. They have to repatriate more profit to the UK as the economy there no good.
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  #83 (permalink)  
Old 2nd November 2009, 09:07 PM
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Default Re: unilever

Quote:
Originally Posted by hispy99 View Post
UNILEVER NIGERIA PLC INTERIM REPORT FOR THE PERIOD NINE MONTHS ENDED 30TH SEPTEMBER 2009 (THIRD QUARTER)

2009 2008 %CHANGE

N'b N'b
TURNOVER 32.586 27.951 16.58
PROFIT BEFORE TAXATION 5.476 2.425 125.81
TAXATION (N1.610b) (N731m) (120.24)
PROFIT AFTER TAXATION 3.865 1.694 128.15
Are this people operating in the same country as the others? even the taxation will be enough for some companies to declare...did they get some cash infusion from their UK parents during the period under review?
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  #84 (permalink)  
Old 2nd November 2009, 09:14 PM
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Default Re: unilever

Quote:
Originally Posted by pumping View Post
Somehow I've not taken any note of this stock. I has never been in my radar. I was just surprised to note today that it actually moved from N10 (July) to N17 (August) before settling down at around N15. That is some decent recovery.
Na greed make me sell this one, bought cheap and intended to leave it for the longest term but had to sell when the price got to N16.

I am still hovering on this one, Pumping, abeg keep off my company!
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  #85 (permalink)  
Old 2nd November 2009, 10:19 PM
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Default Re: unilever

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Originally Posted by c kenneths View Post
Na greed make me sell this one, bought cheap and intended to leave it for the longest term but had to sell when the price got to N16.

I am still hovering on this one, Pumping, abeg keep off my company!
You know that anywhere you go, I will follow. Very quietly, not like Ololo..
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  #86 (permalink)  
Old 3rd November 2009, 09:02 AM
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Default Re: unilever

Quote:
Originally Posted by hispy99 View Post
UNILEVER NIGERIA PLC INTERIM REPORT FOR THE PERIOD NINE MONTHS ENDED 30TH SEPTEMBER 2009 (THIRD QUARTER)

2009 2008 %CHANGE

N'b N'b
TURNOVER 32.586 27.951 16.58
PROFIT BEFORE TAXATION 5.476 2.425 125.81
TAXATION (N1.610b) (N731m) (120.24)
PROFIT AFTER TAXATION 3.865 1.694 128.15
Not bad... but after updating my bedsheet I got the following numbers; Unilever has a PE of 11.61x, which is higher than industry average of 9.95x. AG Leventis still looks attractive with a PE of 7.03x. Unilever has the highest forward dividend yield of 8.48% in contrast to industry average of 5.75% but it has the highest price to book value of 5.36x in contrast to industry average of 2.48x.
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  #87 (permalink)  
Old 3rd November 2009, 09:27 AM
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Default Re: unilever

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Originally Posted by knightofdelta View Post
Not bad... but after updating my bedsheet I got the following numbers; Unilever has a PE of 11.61x, which is higher than industry average of 9.95x. AG Leventis still looks attractive with a PE of 7.03x. Unilever has the highest forward dividend yield of 8.48% in contrast to industry average of 5.75% but it has the highest price to book value of 5.36x in contrast to industry average of 2.48x.
Your bedsheet? My man, you need some sleep...you're banned from coming online till further notice...
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  #88 (permalink)  
Old 3rd November 2009, 09:40 AM
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Default Re: unilever

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Originally Posted by pumping View Post
Your bedsheet? My man, you need some sleep...you're banned from coming online till further notice...
Just like you, sleep don become pay as you go and it is very very expensive. I can afford only 3 hours per day and I have exhausted my limit for today... if you ban me from coming online, where do you want me to go??
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  #89 (permalink)  
Old 3rd November 2009, 09:41 AM
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Default Re: unilever

Quote:
Originally Posted by knightofdelta View Post
Not bad... but after updating my bedsheet I got the following numbers; Unilever has a PE of 11.61x, which is higher than industry average of 9.95x. AG Leventis still looks attractive with a PE of 7.03x. Unilever has the highest forward dividend yield of 8.48% in contrast to industry average of 5.75% but it has the highest price to book value of 5.36x in contrast to industry average of 2.48x.
Which, in a layman's language, will mean that both Unilever and Leventis are looking good in that sector.
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  #90 (permalink)  
Old 3rd November 2009, 09:52 AM
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Default Re: unilever

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Originally Posted by c kenneths View Post
Which, in a layman's language, will mean that both Unilever and Leventis are looking good in that sector.
Leventis is looking very good, UACN has the best fundamentals... investor perception may drive up the price of Unilever but my models tell me there are better deals in the sector.
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  #91 (permalink)  
Old 3rd November 2009, 09:59 AM
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Default Re: unilever

Quote:
Originally Posted by c kenneths View Post
Which, in a layman's language, will mean that both Unilever and Leventis are looking good in that sector.
At current prices, I think Unilever will be the winning stock in this sector. There is real potential for growth.
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  #92 (permalink)  
Old 3rd November 2009, 10:37 AM
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Default Re: unilever

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Originally Posted by pumping View Post
At current prices, I think Unilever will be the winning stock in this sector. There is real potential for growth.
I feel more comfortable with UACN in this sector...
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  #93 (permalink)  
Old 3rd November 2009, 11:32 AM
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Default Re: unilever

Quote:
Originally Posted by knightofdelta View Post
I feel more comfortable with UACN in this sector...
At what price will you buy UACN?
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  #94 (permalink)  
Old 3rd November 2009, 11:32 AM
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Default Re: unilever

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I feel more comfortable with UACN in this sector...
Me just dey look current prices. I think if you bought Unilever and UACN yesterday, you will be better off from the point of view of capital appreciation short to medium term.
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  #95 (permalink)  
Old 3rd November 2009, 12:08 PM
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Default Re: unilever

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Originally Posted by pumping View Post
Me just dey look current prices. I think if you bought Unilever and UACN yesterday, you will be better off from the point of view of capital appreciation short to medium term.
Okay, you are looking at it from the trading point of view, but I prefare Unilever just the same.
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Old 3rd November 2009, 12:19 PM
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Default Re: unilever

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Originally Posted by c kenneths View Post
Okay, you are looking at it from the trading point of view, but I prefare Unilever just the same.
Well, partly from that view but mainly from the view that Unilever has moved from a losing positions in 2006 to back to back years of PAT growth. Those losing positions obviously hurt the position of the company and the valuation put on the stock in terms of any premium.

Note that the current Q-2 PAT is higher than any FY PAT they delivered even in the good ole days. Imagine what that means if they take this momentum to FY.

The real value of the stock has not really been priced in and I'll expect that to happen in the next few months.

I wish I had some of these right now...LOL..
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Last edited by pumping; 3rd November 2009 at 12:25 PM.
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  #97 (permalink)  
Old 3rd November 2009, 12:47 PM
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Default Re: unilever

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Originally Posted by pumping View Post
Well, partly from that view but mainly from the view that Unilever has moved from a losing positions in 2006 to back to back years of PAT growth. Those losing positions obviously hurt the position of the company and the valuation put on the stock in terms of any premium.

Note that the current Q-2 PAT is higher than any FY PAT they delivered even in the good ole days. Imagine what that means if they take this momentum to FY.

The real value of the stock has not really been priced in and I'll expect that to happen in the next few months.

I wish I had some of these right now...LOL..
Are you sure it has not been priced in already? It has a PE of 11.38x, higher than sector average of 8.88x. It is next only to PZ with a PE of 11.90x. UACN is trading at a PE of 6.63x.

Unilever also has a beta of 1.3 [Bloomberg], which is the highest in the industry that has a weighted average beta of 0.85. This means it is more responsive to the vagaries of the stock market due to its high volatility. UACN is relatively stable and has a beta of 0.72.

If the price continues to gallop Unilever will become the most expensive stock in the sector, though I agree that a premium may have to be paid for the earnings growth but my investment strategy does not allow for that. I am not ready to pay for that when there are better bargains with less volatile earnings...
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  #98 (permalink)  
Old 3rd November 2009, 01:17 PM
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Default Re: unilever

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Originally Posted by knightofdelta View Post
Are you sure it has not been priced in already? It has a PE of 11.38x, higher than sector average of 8.88x. It is next only to PZ with a PE of 11.90x. UACN is trading at a PE of 6.63x.

Unilever also has a beta of 1.3 [Bloomberg], which is the highest in the industry that has a weighted average beta of 0.85. This means it is more responsive to the vagaries of the stock market due to its high volatility. UACN is relatively stable and has a beta of 0.72.

If the price continues to gallop Unilever will become the most expensive stock in the sector, though I agree that a premium may have to be paid for the earnings growth but my investment strategy does not allow for that. I am not ready to pay for that when there are better bargains with less volatile earnings...
Absolutely agree on valuation. UACN will probably have even lower PE because the Q-4 will typically be equal to (Q-1 + Q-2 + Q-3).

On the other hand, calculating BETA for Unilever over the last 3 years will distort what to expect going forward. It is like using the BETA for NB between 2005 to 2006.

Traditionally, Unilever is not a volatile stock and it it retains it's usual place of pride, I'd expect it to be a defensive stock.

UACN just moved up like 20% in the last few days to pull away from N35 resistance since June. I think Unilever will also be moving away from the N15 resistance of the last 2 months.
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Last edited by pumping; 3rd November 2009 at 01:20 PM.
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  #99 (permalink)  
Old 3rd November 2009, 01:58 PM
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Default Re: unilever

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Originally Posted by pumping View Post
Absolutely agree on valuation. UACN will probably have even lower PE because the Q-4 will typically be equal to (Q-1 + Q-2 + Q-3).

On the other hand, calculating BETA for Unilever over the last 3 years will distort what to expect going forward. It is like using the BETA for NB between 2005 to 2006.

Traditionally, Unilever is not a volatile stock and it it retains it's usual place of pride, I'd expect it to be a defensive stock.

UACN just moved up like 20% in the last few days to pull away from N35 resistance since June. I think Unilever will also be moving away from the N15 resistance of the last 2 months.
That is pure speculation ooo... I do that only with the banks that have very volatile prices and liquid enough for me to get out if I have to do it in a hurry. I take a more conservative stance with a long term view with conglomerates. If Unilever can have such a high beta during the past 3 years and they have suddenly shown improvement in earnings my thinking is that more players (like you) will enter the stock to make a quick profit and increase the the inherent volatility. So the beta value of 1.3 may just be too low for the stock going forward.
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  #100 (permalink)  
Old 3rd November 2009, 02:02 PM
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Default Re: unilever

Quote:
Originally Posted by shoang View Post
At what price will you buy UACN?
I bought UACN at N37 but for the medium to long term play with less crying from undue price fluctuations, the price is currently right for the plucking.
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