Vitafoam Plc

[Oracle]

Originally Posted by overload

correct man! u sabi the place wella.

I think KOD needs to go and look at that foam market very well.

I wont be surprised that 50% of the so called 'Vitafoam' being marketed in the eastern markets are Aba made!

the last one i bought and took to my village from there has even outlasted the vitafoam i bought in enugu for my mum years after that,.

Why I like Aba market is because of the way things are arranged. Every road has a unique thing that is sold there. No two products would be sold(in large quantities) on a particular road. Example Kent road sells only clothing materials. Cameroun road sells only nylon/BAGCO/packaging material. Pound road sells only electronics etc. Well organized market!

[emmanuel ewumi]

Originally Posted by Oracle

Why I like Aba market is because of the way things are arranged. Every road has a unique thing that is sold there. No two products would be sold(in large quantities) on a particular road. Example Kent road sells only clothing materials. Cameroun road sells only nylon/BAGCO/packaging material. Pound road sells only electronics etc. Well organized market!

The government needs to work on crime, armed robbery, kidnapping, and security issues in the City. The government also needs to invest on infrastructural facilities.

[Oracle]

Originally Posted by emmanuel ewumi

The government needs to work on crime, armed robbery, kidnapping, and security issues in the City. The government also needs to invest on infrastructural facilities.

Forget that place! It is not a good city to bring up a child!

[emmanuel ewumi]

Originally Posted by Oracle

Forget that place! It is not a good city to bring up a child!

Our children are our future, that means the place will not be a good place to live or do business in the future.

I believe politicians from the region are reading people's comments about the City.

[knightofdelta]

Originally Posted by overload

correct man! u sabi the place wella.

I think KOD needs to go and look at that foam market very well.

I wont be surprised that 50% of the so called 'Vitafoam' being marketed in the eastern markets are Aba made!

the last one i bought and took to my village from there has even outlasted the vitafoam i bought in enugu for my mum years after that,.

Don't bother. If you want me to sell my Vitafoam stocks, go and change the numbers that keep popping up on my spreadsheet. I can't make my decision based on one market in Aba when Vitafoam is in several countries in West Africa.

Until then, I remain bullish.

[wanaj0]

Seems I am missing something. PAT is dropping. Margins shrinking. So what is the excitement about? Revenue grew ONLY 2% in the 9 month result. Any plan to arrest this trend?

[bivins1]

Originally Posted by wanaj0

Seems I am missing something. PAT is dropping. Margins shrinking. So what is the excitement about? Revenue grew ONLY 2% in the 9 month result. Any plan to arrest this trend?

oga Wanaj don ask this question long time imo river but nobody provide answer. Oya Oga Oracle and KOD, na una be board members for this stock, make una provide answer .

[Born 2be rich]

Vitafoam Assures NSE on Timely Disclosure, Articles | THISDAY LIVE

[Oracle]

Originally Posted by bivins1

oga Wanaj don ask this question long time imo river but nobody provide answer. Oya Oga Oracle and KOD, na una be board members for this stock, make una provide answer .

Na KOD go answer! We still dey sleep with Ariaria 'vitafoam'!

[afolabi27]

Originally Posted by wanaj0

Seems I am missing something. PAT is dropping. Margins shrinking. So what is the excitement about? Revenue grew ONLY 2% in the 9 month result. Any plan to arrest this trend?

Hmm......if you miss anything Oga, may be just that gross margin is still up there at 32% against 31.5% in Q3 2011. Other than this, you no miss anything O, Oga KOD thought he saw insider dealing going on using technical analysis, and he dived.

The ROE at 15.3% might demand a second look, but P/B at 0.96 for an illiquid stock might be a no no for some of us.

Oga KOD, over to you.

[goldsun]

Originally Posted by wanaj0

Seems I am missing something. PAT is dropping. Margins shrinking. So what is the excitement about? Revenue grew ONLY 2% in the 9 month result. Any plan to arrest this trend?

my oga, do you have their current annual report. Its not on their website

[afolabi27]

Originally Posted by goldsun

my oga, do you have their current annual report. Its not on their website

Go to proshareng.com

[goldsun]

Originally Posted by afolabi27

Go to proshareng.com

the latest they have is 2009

[afolabi27]

Originally Posted by goldsun

the latest they have is 2009

Pardon me, I refer to the Q3 2012 management account. I have searched for audited or recently published accounts, I guess Q3 is the latest from the company.

VITAFOAM NIGERIA PLC - Investors Relations

[nosa2]

Vitafoam (ROE 20.4%) has a forward EPS of N0.78k and is trading at a forward p.e of 4.7 and has a book value of N3.80

Is it a good long term buy? Probably, and I am currently a shareholder but I don't see any compelling reason for me to hold onto it.

[1himself]

i followed d stock wella...so get to know that it did not release it result by quater... It released a 9mth own at a go..

[afolabi27]

Originally Posted by nosa2

Vitafoam (ROE 20.4%) has a forward EPS of N0.78k and is trading at a forward p.e of 4.7 and has a book value of N3.80

Is it a good long term buy? Probably, and I am currently a shareholder but I don't see any compelling reason for me to hold onto it.

The ROE is not as high as 20.4% my brother. You have taken a forward EPS but a static book value

If you adjust for this, you should get a ROE sub 20%. And where is the discount for lack of liquidity? I think it is appropriately valued with "don't buy yet" written all over it.

So I guess you are selling now?

[nosa2]

Originally Posted by afolabi27

The ROE is not as high as 20.4% my brother. You have taken a forward EPS but a static book value

If you adjust for this, you should get a ROE sub 20%. And where is the discount for lack of liquidity? I think it is appropriately valued with "don't buy yet" written all over it.

So I guess you are selling now?

What earnings did you use in calculating ROE? I used N645m. As for selling, I'm waiting, as The release of the result draws nearer I'll offload. My holding isn't a lot so I don't have to worry too much about liquidity.

[afolabi27]

Originally Posted by nosa2

What earnings did you use in calculating ROE? I used N645m. As for selling, I'm waiting, as The release of the result draws nearer I'll offload. My holding isn't a lot so I don't have to worry too much about liquidity.

Yes, N645m is the annualised earning. Comprised of 9month actual of N484m as reported, then annualised by adding 3 month forward at same run rate.

[nosa2]

Originally Posted by afolabi27

Yes, N645m is the annualised earning. Comprised of 9month actual of N484m as reported, then annualised by adding 3 month forward at same run rate.

And using this you got a different ROE?