|
|
| Re: Blue Financial Services [message #45426] |
Tue, 03 November 2009 14:10   |
Mackers 
Messages: 49
Registered: September 2009
Location: Johannesburg |
Member |
|
|
Afdawn and BFS have both tanked about 10% today?
Is there a connection?
Apparently the most successful stock picker was a bull called lucky.
|
|
|
|
|
|
| Re: Blue Financial Services [message #45469] |
Wed, 04 November 2009 07:05 |
Worker
Messages: 78
Registered: September 2009
Location: Gauteng |
Member |
|
|
Anyone got some long term thoughts on Blue? I got in earlier this year, so a bit down at the moment.
They seem to have expansion plans for the future??
Steve
|
|
|
|
|
| Re: Blue Financial Services [message #45571] |
Wed, 04 November 2009 23:55 |
Bullhunter
Messages: 428
Registered: September 2009
Location: Northcliff |
Senior Member |
|
|
"...Van Niekerk said the company is relatively undervalued with the market cap being around half of the loan book at the moment."
Huh! Since when does the loan book determine market cap? Ask AIG, Fannie and Freddie.
It's now at a more respectable PE of 8.
Opportunities are made up easier than losses.
|
|
|
| Re: Blue Financial Services [message #45581] |
Thu, 05 November 2009 09:03 |
Worker
Messages: 78
Registered: September 2009
Location: Gauteng |
Member |
|
|
Seems the economic slow down is affecting them at the moment, just as it is most other businesses, but they look well positioned to recover quickly??
Plus, NAV is way above current price. Have to wait and see what the results will show.
Still need to ask, are they looking good for the longer term? Will they get close to where they were a year ago?
Steve
|
|
|
|
| Re: Blue Financial Services [message #45741] |
Mon, 09 November 2009 13:42 |
mole
Messages: 19
Registered: November 2009 |
Junior Member |
|
|
i have been following bfs( sens, media etc) and their activities on the continent very closely. there is a great deal of mismatch from what they say and and do versus the information they put out.
What funding is CEO talking about halving? Is it not a hype? Earlier on in the year after their end of year around April, May June therebabout( pls refer to their SENS) when everybody in the markets was running for cover due to lack of money etc they put out successive announcements about how well they have been able to raise over R130Million from local African markets and were on course to meeting their funds targets for the financial year. What is he saying now?
Is the story in reuters to prepare minds of investors for poor numbers?
Well: for the those interstested becareful of BFS.
i wonder where they are going to get money to keep going on except there is a miracle because a significant many development and social funds that provide funding to support micirofinance in Europe and Americas will not lend them money because they view payroll lending as not being microfinance.
1. their license/model of operation has been stopped in Malawi, Swaziland and Zambia on course to wrapping the deduction codes business shut. Payroll deductions are a hot political bed and governments donot take kindly to having entities deduct monies from civl servants' salaries
2. Nigerian business will effectively suffer going forward or possibly grind to a halt. The CBN is in control of ICB and is not going to release money to get Blue business moving
3. their east african business is suffering due to negative consumer sentiments about their high charges, stiff competition from local players and rising defaults resulting from the credit crunch.
4. Cameroon is going to be a nonstarter because i doubt they will be able to secure the requisite liciense to operate on a proper commercial scale given that the central bank of central african states has refused to grant commercial microfinance licenses to operators except for those who want to operate in rural areas where one can hardly gather critical mass.
5. Ghana may be a bet for them but a possible investigation looms from the central bank as to how they got their license being the only such entity to have received the license for some time. But again, it is a market that is steeped in relationships and wonder if they will be able to cut it.
Not to mention the frequent changes of financial postmasters, restating of number and incredibly unrealistic NPLs for their industry. I will basically keep away because
|
|
|
|
| Re: Blue Financial Services [message #45804] |
Tue, 10 November 2009 15:58 |
topaz
Messages: 13
Registered: June 2008 |
Junior Member |
|
|
2009/11/10 15:36
BFS - Blue - Trading Update And Cautionary Announcement
BFS
BFS - Blue - Trading Update And Cautionary Announcement
BLUE FINANCIAL SERVICES LIMITED
(Registration number 1996/006595/06)
(Incorporated in the Republic of South Africa)
JSE Code: BFS & ISIN: ZAE000083655
("Blue" or "the Company")
TRADING UPDATE AND CAUTIONARY ANNOUNCEMENT
Shareholders are hereby advised that the Company is in the process of finalising
its interim results for the six months ended 31 August 2009, and expects to
reflect a loss for the interim period then ended.
The decline in the Company's results is mainly attributable to:
1. Restricted levels of funding available in the market emanating from the
Global Financial Crisis, which has limited the Company's ability to grow
its loan book;
2. Operating costs being disproportionately high when compared to revenue
owing to the lower than expected levels of available funding;
3. Increase in the impairment of loan advances particularly in the South
African portion of the loan book; and
4. Weakening in many of the local African market currencies against the Rand.
The Company has implemented the following steps to improve profitability and
cash flows:
1. Cost rationalisation and increase in operating model efficiencies;
2. Improving business sophistication including the strengthening of the
treasury management and business optimisation functions;
3. Delaying the expansion into new markets in the short term; and
4 Engaging with funders to restructure current, or secure new funding lines.
Demand for the Company's products remains high.
To enhance the provisioning policy, the Company is undertaking a thorough review
of its loan books in conjunction with the external auditors. The interim
results are dependent on this assessment and will be released to shareholders
before 30th November 2009.
At this stage, the Company is unable to quantify, with reasonable certainty, the
expected loss for the six months ended 31 August 2009. Accordingly, shareholders
are advised to exercise caution when dealing in the Company's shares until such
time as a trading statement is released.
Pretoria
10 November 2009
Designated Adviser: PSG Capital (Proprietary) Limited
Date: 10/11/2009 15:36:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
|
|
|
| Re: Blue Financial Services [message #45807] |
Tue, 10 November 2009 16:51 |
mole
Messages: 19
Registered: November 2009 |
Junior Member |
|
|
Your post makes me feel like a prophet. I just new the rationale of that media hype by Dave and Morne.
I just leave it to investors to make up their minds about this company.
|
|
|
|
| Re: Blue Financial Services [message #45834] |
Wed, 11 November 2009 09:23 |
 |
Sharetips.co.za
Messages: 25
Registered: August 2009
Location: Cape Town |
Junior Member |
|
|
I cannot help but compare the story around AfDawn and Blue to the Greek mythology account of Icarus.
http://sharetips.co.za/2009/11/blue-about-the-bs-from-bfs/
--------------------------------------------------
sharetips.co.za is where I share my tips
|
|
|
| Re: Blue Financial Services [message #45891] |
Thu, 12 November 2009 07:52 |
Investorcentre.co.za
Messages: 14
Registered: October 2009 |
Junior Member |
|
|
At this stage, the Company is unable to quantify, with reasonable certainty, the
expected loss for the six months ended 31 August 2009. Accordingly, shareholders
are advised to exercise caution when dealing in the Company's shares until such
time as a trading statement is released.
If this doesn't scare the living daylights out of you, I dont know what will. I think there is a big bath coming....
|
|
|
| Re: Blue Financial Services [message #45895] |
Thu, 12 November 2009 09:42 |
mole
Messages: 19
Registered: November 2009 |
Junior Member |
|
|
I guess, as the days go bye, we will see how the conboys at Blue will spin this web. Price tested new levels this morning at 72cents...not sure how low again it will go.
Are the big boys going to step in to save them?
|
|
|
Search
Help
Register
Login
Home
E-mail to friend 
]