Guinea Insurance PLC

[mena]

Hello forum,

I have been trying to follow the threads in this forum and I would like to ask if anyone has any information about guinea insurance I saw that their 2nd Qtr earnings is 25kobo.they seem to be 2nd best in terms of EPS after Lasaco.
I want to know more about them as I bought some units late Dec @ 3.52k.

Also their year end should be in Dec and their result is still 2nd Qtr.Moreover the volume of transaction on the share has been low.

Any info will be appreciated.

[greatgoc]

Yeah,

Guinea insurance is a good buy going by there 2nd Quarter EPS. Y there volume is low is because they are yet to bring to floor the supplementary allotments they did either by pp or right issue. Many are still waiting for certificate. I ve gotten mine but yet to be demobilzed.

[Bomsky]

Guinea is a very good buy at the current price. With a Q3 EPS of 0.13K and trading at between N4.75 - N5, it is undervalued. If its FYE Results are declared and it comes out well, I see Guinea easily doing N8.

Also, their number of shares outstanding is not so much, this is another advantage and they may get investors' goodwill by giving a Bonus (Nigerians love Bonus!!!), and this will just push up their price and will mean more money for people who bought at a good price.

Guinea is struggling right now because people bought their PP, IPO, Rights last year at below N2, and they are dematerializing and this is putting pressure on the price but this won't last for long. After this, the only way for Guinea to go is NORTH!!!

Cheers...!

[zainabusman]

Are u sure of the EPS for Guinea Insurance? Often times the EPS is wrong because the number of shares outstanding is wrong. I have fallen into this trap in the past.

[mena]

Their PE has remain static for a very long time and the last result they release was 2nd quarter result.So I am surprised with the figures Bomsky is giving.Are u sure if these figures ?

[hispy99]

Guinea has about 5.40 billion shares oustanding and half-year PAT of N170MM. PE is about 71x. I no know where Bomansky take get Q3 EPS o. Bomansky, make you tell us na, because the only result me i don see na Q2

[polosco]

Do you mean Guinea has such bougous number of shares, why do we still have it on the NSE site as about 750M outstanding? I bought at N5.12 and now the price is N4.55, will it still rise with this figures u gave?

[mena]

Hello Polosco,

Hope it was not margin account that you used for the purchase.This is why I hate the short term thing.Most of the time I prefer just put my money there and take my mind off (but not my eyes).
If you give it some more time it will still head northwards.

[rose]

The Technical Suspension placed on Guinea Insurance Plc was lifted today.

[BLUEMONEY]

Originally Posted by rose

The Technical Suspension placed on Guinea Insurance Plc was lifted today.

i never knew the stock was placed on technical suspension. please i will like to know why.

[hispy99]

Originally Posted by BLUEMONEY

i never knew the stock was placed on technical suspension. please i will like to know why.

They were supposed to have done a rights issue i believe

[BigSeun]

Originally Posted by rose

The Technical Suspension placed on Guinea Insurance Plc was lifted today.

i guess what you meant GNI and not Guinea Insurance

[joy111]

GUINEA INSURANCE PLC
2007 2006
TURNOVER N261.209m N669.091m
PROFIT BEFORE TAXATION N132.767m N110.503m
TAXATION (N40.162m) (N23.977m)
PROFIT AFTER TAXATION N92.605m N86.526m
RETAINED EARNINGS N66.052m N66.720m