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Announcements...28-Aug-08: Final Dividend: 0.40/= • Payment: 22-Dec-08
Discuss Mumias Sugar Company Ltd• Pioneer KURO PDP-6020FD Plasma TV-----$1000usd Dedi Amek • August 2009 (1 reply)
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• Share price after bonus AL • September 2007 (13 replies)
• Mumias Bonus Issues done? Vundis • November 2007 (1 reply)
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2.00
1.00Segment: Main Investment Market
Sector: Industrial And Allied
Brief Company Profile
Royal Ngao House, 2nd Floor P.O Box 57092 Nairobi, Kenya +254-20-2712317 (Phone)
+254-20-2712316 (Fax)
Updated: Tue, June 17, 2008
Business Performance
MSC currently is the market leader in the Kenyan sugar sector having a 65% market share, with sales of about 298,000 tonnes in 2005/06. Opportunities still do exist for continued market expansion since there is a steady growth in demand. However, the company's revenues and margins will increasingly come under intense pressure from cheaper sugar imports and as a result it must seek ways to cut costs and this will give it more leeway in lowering prices to more competitive levels. Further, the lifting of import quotas on sugar in 2008, as per the COMESA trade agreement, will result in intensified competition in which the least cost producers will carry the day. In view of this, product diversification to incorporate cogeneration of electricity should enhance its revenue base if adequate resources are availed for this undertaking. Indeed, the firm began the supply of electricity to the national grid. In July 2005 at present having a capacity of 2 MW at a rate of about KES 3.00 per KWh. In addition, the firm is taking measures to enhance its capacity to produce biofuels, which are increasingly in demand as alternative sources of energy in the face of high petroleum prices
The company's sales (gross) grew by 13.9% in the 2005/06 financial-year to KES 14.25 Billion occasioned by the generally Favourable domestic selling prices. Profit before tax rose by 20.4% to KES 2.20 Billion fuelled by the growth in revenue. Consequently, its earnings per share also rose by 18% to KES 2.99 . However, unreliable weather patterns and cane fires led to the crushing of younger cane that yielded less sugar content leading to a decline in sugar production by 1.25% to 265,819 tonnes. Going forward, the main challenge facing Mumias is the competition from cheaper sugar imports, coupled with adverse weather conditions.
Future Prospects
Future company growth appears to lie mainly in building its cogeneration and alcohol producing capacity coupled with cost cutting initiatives. In fact, the firm may in future find it necessary to change its thrust from that of sugar production to co-generation and alternative fuel production.
Updated: Thu, October 26, 2006
• Farmers to Miss Global Sugar Boom (04 Feb 2010)
Farmers supplying sugarcane to government-owned millers could miss out on the high sugar prices in the international market, due to production inefficiencies.
• MSC Brushes Off Players' Defection (27 Jan 2010)
Mombasa Sports Club may miss out at this year's rugby league after a majority of the players decamped to form a new team, Bandari RFC.
• Sweet Tidings Beckon for Sugar Farmers (13 Jan 2010)
The long-awaited divestiture by the government from the debt-ridden sugar millers entered a crucial phase on Wednesday with the release of a privatisation report that gives farmers more say in the management of the industry.
• Mombasa Sports Club Fall to West Ham At Home (28 Dec 2009)
Mombasa Sports Club (MSC) failed to utilise their home ground advantage when West Ham beat them 6-4 on post match penalties during the final match of the 'Old is Gold' Cup over-40 years competition.
• Buy Stakes in Sugar Firms, Cane Growers Told (21 Dec 2009)
Sugarcane farmers in Nyanza and Western provinces should start saving to buy shares in local sugar factories set to be privatised next year, Agriculture assistant minister, Gideon Ndambuki, has urged.
• Farmers Say No to Sugar Firms Merger (11 Nov 2009)
A section of sugarcane farmers have threatened to move to court to block a planned merger of three sugar factories in the Nyando sugar belt.
• Nzoia Farmers Bid for More Time (23 Oct 2009)
Sugarcane farmers from Nzoia sugar belt want to be given more time to raise money to buy shares of Nzoia Sugar Company when it is privatised.
• Local Cane Growers Ask for Input Subsidies (14 Sep 2009)
Sugarcane growers in western Kenya presenting their views to the parliamentary department committee on Agriculture, Livestock and Cooperatives, have urged the government to treat them the same way it does maize, tea and coffee farmers, by subsidising...
• Mumias Sugar Raises Price of Cane Deliveries (01 Sep 2009)
Mumias Sugar Company has increased the price of cane deliveries from Sh2,850 to Sh3,055 per tonne. The increase comes barely a week after Agriculture minister William Ruto directed sugar millers to start paying sugarcane growers Sh3,500 a tonne.
• MPs Urge Govt to Pay Sugarcane Farmers (26 Aug 2009)
Sugarcane farmers in Nzoia and Sony sugar belts are suffering as the government is yet to disburse refunds estimated at Sh19 million deducted from farmers as sugar levy, Parliament heard on Wednesday.
• Lessons From Mauritius Sugar Sector (21 Aug 2009)
The lush green fields of sugarcane farms in every village and every hamlet, every state and every city distinctively identify Mauritius as a top sugar producer.
• Sugarcane Growers Get Funding Boost (20 Aug 2009)
Sugarcane farmers have a reason to smile after the Kenya Sugar Board increased funds meant to be lent to them through Agricultural Financial Co-operation, to Sh1 billion.
• Sugar Miller Now Seeks to Raise Its Cane Crushing Capacity (10 Aug 2009)
Sugar miller Sony now seeks to modernise its equipment to raise the firm's sugarcane crushing capacity.
• Farmers to Get Stake in Sugar Firms (30 Jul 2009)
The government has pledged to ensure that sugarcane farmers have a clear stake in sugar factories when privatised.
• Stop Inciting Cane Farmers, Warns Miller (12 Sep 2008)
Mumias Sugar Company has asked Mumias Outgrowers Company to stop inciting its members,
• Endless Safeguards Hurt Free Trade (27 May 2008)
Our wheat and sugar farmers have enjoyed Comesa safeguards for several years. Just last week, it was reported that the safeguard measures are unlikely to be renewed.
• State to Revert to Petrol Blending (01 May 2008)
Blending of petrol with ethanol made from sugarcane will be reintroduced in Kenya. This is meant to cushion consumers from effects of escalating petroleum products prices.
• Residents Say Eviction is Unfair (22 Apr 2008)
Residents on land earmarked for growing sugarcane in Msambweni District have resisted a move to evict them.
• Miwani Sugar Factory Sold for a Song (31 Mar 2008)
The over Sh2 billion worth Miwani Sugar Company (MSC) has been sold for only Sh28 million.
• Soy Beans Usher in Hope for Growers (02 Jan 2008)
Twenty years after Mumias Sugar Company introduced soy beans in parts of Western Kenya to improve soil fertility, the crop has overtaken sugarcane in popularity.
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