Starcomms

[hispy99]

The Punch: Nigeria still viable for investment —Starcomms boss

[panasharp]

I quiver when I hear or read words like "I feel or gut feel" in deciding where to invest ones "hard" earned money. It connotes nothing but emotion, which if applied would probably give one better odds at Las Vegas. Let the numbers lead you to a decision not gut feelings otherwise invest the money you are willing to gamble with.


Sept. 2008 chat

April 2009 chat

[zainabusman]

STARCOMMS PLC
PERIOD ENDED JUNE 3OTH 2009 FORECAST
2009
TURNOVER N8.445b
COST OF SALES N8.964b
LOSS BEFORE TAXATION (N234m)
PROPOSED ADJUSTMENT FOR
EXCEPTIONAL/EXTRA ORDINARY ITEMS (N518m)
LOSS BEFORE TAX AND EXCEPTIONAL EXTRA
ORDINARY ITEMS (N752m)
PROFIT AFTER TAXATION (752m)
CASH FLOW INFORMATION
OPERATING CASHFLOW BEFORE WORKING
CAPITAL CHANGES N1.751b
NET CASH GENERATED FROM OPERATING
ACTIVITIES N5.103b
CASH FLOW FROM FINANCING ACTIVITIES N1.198b
CASH FLOW FROM INVESTING ACTIVITIES N3.525b
NET DECREASE IN NET CASH AND
CASH EQUIVALENTS N379m
CASH BANK BALANCE AT THE BEGINNING OF
THE PERIOD N8.157b
CASH BANK BALANCE AT THE END
OF THE PERIOD N8.536b1

[eniyanman]

Originally Posted by zainabusman

STARCOMMS PLC
PERIOD ENDED JUNE 3OTH 2009 FORECAST
2009
TURNOVER N8.445b
COST OF SALES N8.964b
LOSS BEFORE TAXATION (N234m)
PROPOSED ADJUSTMENT FOR
EXCEPTIONAL/EXTRA ORDINARY ITEMS (N518m)
LOSS BEFORE TAX AND EXCEPTIONAL EXTRA
ORDINARY ITEMS (N752m)
PROFIT AFTER TAXATION (752m)
CASH FLOW INFORMATION
OPERATING CASHFLOW BEFORE WORKING
CAPITAL CHANGES N1.751b
NET CASH GENERATED FROM OPERATING
ACTIVITIES N5.103b
CASH FLOW FROM FINANCING ACTIVITIES N1.198b
CASH FLOW FROM INVESTING ACTIVITIES N3.525b
NET DECREASE IN NET CASH AND
CASH EQUIVALENTS N379m
CASH BANK BALANCE AT THE BEGINNING OF
THE PERIOD N8.157b
CASH BANK BALANCE AT THE END
OF THE PERIOD N8.536b1

There's something wrong about the forecast. The Q1 result shows a revenue of N8.5B and operating profit of N409M. Revenue in Q2 is lower than Q1

[hispy99]

Originally Posted by eniyanman

There's something wrong about the forecast. The Q1 result shows a revenue of N8.5B and operating profit of N409M. Revenue in Q2 is lower than Q1

Maybe the forecast is not cumulative?

[zainabusman]

Originally Posted by hispy99

Maybe the forecast is not cumulative?

Indeed. Some report cumulative and some just the relevant quarter numbers only.

[eniyanman]

Originally Posted by hispy99

Maybe the forecast is not cumulative?

Haa, that may well be it. Thanks. I observe that the extra-ordinary charge has also decreased substantially (since they've already taken a forex charge in Q1) which ties in with your comment.

[nosa2]

Just saw this interesting news article, Welcome to Financial Standard News, this stock seems to getting more interesting

[hispy99]

Investors commend Starcomms on revenue growth - Proshare

[hispy99]

THISDAY ONLINE / Nigeria news / African views on global news
Starcomms Promises Better Value

[bush2]

As you are aware, Chapel Hill and IBTC have commenced a book building exercise at a price range of N9.36 to 11.26 and are currently receiving orders.

[hispy99]

Originally Posted by bush2

As you are aware, Chapel Hill and IBTC have commenced a book building exercise at a price range of N9.36 to 11.26 and are currently receiving orders.

Book building exercise for what? For a stock listed on the NSE and trading at < N4?

[bivins1]

Originally Posted by hispy99

Book building exercise for what? For a stock listed on the NSE and trading at < N4?

Hispy the guy dey give us stale news. that happened when the PP was done

[hispy99]

Originally Posted by bivins1

Hispy the guy dey give us stale news. that happened when the PP was done

I thought as much too, but still found it hard to believe

[BigJay01]

STARCOMM PLC
Interim financial report for period ended 30th June 2009.
Second quarter-Revenue
` 0 9 N1 6 . 9 2 B i l l i on ` 0 8 N15.80Billion;
Loss before tax
` 0 9 (N3 . 6 9 B i l l ion) ` 0 8 (N1.85Billion);
Loss after tax
` 0 9 (N3 . 6 9 B i l l ion) ` 0 8 (N1.01Billion).

[hispy99]

Originally Posted by BigJay01

STARCOMM PLC
Interim financial report for period ended 30th June 2009.
Second quarter-Revenue
` 0 9 N1 6 . 9 2 B i l l i on ` 0 8 N15.80Billion;
Loss before tax
` 0 9 (N3 . 6 9 B i l l ion) ` 0 8 (N1.85Billion);
Loss after tax
` 0 9 (N3 . 6 9 B i l l ion) ` 0 8 (N1.01Billion).

so loss is increasing?

[cashrules]

Originally Posted by hispy99

so loss is increasing?

Well, the meltdown is really hitting the telecoms sector badly too..... this calls to mind the Visafone/Zenith partnership... a food for thought!

[panasharp]

Originally Posted by cashrules

Well, the meltdown is really hitting the telecoms sector badly too..... this calls to mind the Visafone/Zenith partnership... a food for thought!

We ought to hear from MTN and Glo before making that conclusion.

[hispy99]

Originally Posted by BigJay01

STARCOMM PLC
Interim financial report for period ended 30th June 2009.
Second quarter-Revenue
` 0 9 N1 6 . 9 2 B i l l i on ` 0 8 N15.80Billion;
Loss before tax
` 0 9 (N3 . 6 9 B i l l ion) ` 0 8 (N1.85Billion);
Loss after tax
` 0 9 (N3 . 6 9 B i l l ion) ` 0 8 (N1.01Billion).

growth in turnover is anemic too...just 7% YoY

[knightofdelta]

Originally Posted by BigJay01

STARCOMM PLC
Interim financial report for period ended 30th June 2009.
Second quarter-Revenue
` 0 9 N1 6 . 9 2 B i l l i on ` 0 8 N15.80Billion;
Loss before tax
` 0 9 (N3 . 6 9 B i l l ion) ` 0 8 (N1.85Billion);
Loss after tax
` 0 9 (N3 . 6 9 B i l l ion) ` 0 8 (N1.01Billion).

And they were telling us about improving profitability in 2009 in their analyst conference? I wonder what Visafone/Jim are faring right now if starcomms is taking this kind of heat.