Sameer Africa Limited is a Kenya-based company primarily engaged in the manufacture, importation and sale of tires, and related products and services, and the letting of investment properties. It operates through four business segments: Manufacturing and distribution, Regional operations, Yana Tyre Centre and Rental business. The Manufacturing and distribution segment is engaged in the manufacturing, buying and distribution of tires, tubes and flaps. Its Regional operations segment is engaged in the buying and distribution of tires, tubes and flaps in the Eastern Africa Region. Its Yana Tyre Centre segment is involved in the retailing of tires, tubes and flaps, and provision of tire related services. The Company’s Rental business segment is engaged in the letting of investment properties. The Company’s subsidiaries include Sameer Africa (Uganda) Limited, Sameer Africa (Tanzania) Limited, Yana Tyre Centre Limited, Sameer Africa (Burundi) Limited and Taqwa Trading Limited.
LOCATION
Sameer Africa Ltd
Mombasa/Enterprise Road Junction,
P.O. Box 30429
NAIROBI 00100
Kenya
PHONE
+254 203962000
FAX
+254 203962888
WEBSITE
Total Outstanding Shares : 278,359,400
Shareholding Information
| Shareholder | Holdings(%) |
|---|---|
| Sameer Investments Limited | 57.24 |
| Bridgestone Corporation | 14.9 |
| NSSF | 2.04 |
| BNP Paribas (Suisse) SA | 1.59 |
| Patrick Njogu Kariuki | 0.72 |
| Swani Coffee Estate Limited | 0.7 |
| Karim Jamal | 0.58 |
| Kamlesh Raichand Shah | 0.57 |
| Standard Charted Nominees | 0.54 |
| Gulzar Amirali Somji & Ameerali Abdoulrasul Somji | 0.46 |
| Others | 20.66 |
| Total | 100 |
Sameer Africa Income Statement
| Period Ending | 31 Dec 2016 | 31 Dec 2015 | 31 Dec 2014 | |
|---|---|---|---|---|
| Shs’ 000 | Shs’ 000 | Shs’ 000 | ||
| Revenue | 3,777,145 | |||
| Cost Of Sales | (2,840,635) | |||
| Gross Profit | 936,511 | |||
| Other Operating Income | 44,934 | |||
| Operating expenses | (1,007,069) | |||
| Operating Profit / Loss | (25,624) | |||
| Net finance costs | (43,537) | |||
| Share of profit/loss accounted investees | (296) | |||
| Profit/Loss before tax | (69,457) | |||
| Income Tax Credit / expense | 2,528 | |||
| Profit/Loss for the year | (66,929) | |||
| Other comprehensive income)net of tax) | ||||
| (a) Items that will never be reclassified to profit and loss | ||||
| Net actuarial loss on re-measurement of defined benefit liability | (7,496) | |||
| Related tax | 2,249 | |||
| Items that are or maybe reclassified to profit and loss | ||||
| Foreign currency translation differences for foreign operations | 12,506 | |||
| Total other comprehensive income for the year | 7,259 | |||
| Total comprehensive income for the year | (59,670) | |||
| Earnings per share (basic and diluted) | (0.24) |
Sameer Africa Balance Sheet
| Period Ending | 31 Dec 2014 | |||
|---|---|---|---|---|
| Shs’ 000 | ||||
| ASSETS | ||||
| Non-current assets | ||||
| Property, plant and equipment | 529,656 | |||
| Intangibles | 47,115 | |||
| Investment Property | 180,491 | |||
| Prepaid operating lease rentals | 361 | |||
| Investment in subsidiaries | – | |||
| Equity accounted tax | 115,777 | |||
| Deferred income tax | 118,878 | |||
| 985,278 | ||||
| Current assets | ||||
| Inventories | 1,512,888 | |||
| Receivables and prepayments | 941,505 | |||
| Current income tax | 56,103 | |||
| Cash and bank balances | 361,616 | |||
| 2,872,112 | ||||
| TOTAL ASSETS | 3,857,390 | |||
| EQUITY | ||||
| Share capital | 1,391,712 | |||
| Retained earnigs | 1,252,707 | |||
| Translation reserve | (107,979) | |||
| Proposed dividends | – | |||
| 2,536,440 | ||||
| LIABILITIES | ||||
| Non-current liabilities | ||||
| Borrowings | – | |||
| Deferred income tax | 4,609 | |||
| Retirement benefit obligations | 178,344 | |||
| 182,953 | ||||
| Current liabilities | ||||
| Payables and accrued expenses | 526,006 | |||
| Current income tax | 734 | |||
| Borrowings | 611,257 | |||
| Unclaimed dividends | – | |||
| 1,137,997 | ||||
| Total liabilities | 1,320,950 | |||
| TOTAL EQUITY AND LIABILITIES | 3,857,390 |
Cash Flow Statement
| Period Ending | 31 Dec 2014 | |||
|---|---|---|---|---|
| Shs’ 000 | ||||
| OPERATING ACTIVITIES | ||||
| Cash receipt from customers | 3,884,542 | |||
| Cash payments for purchases | (2,781,573) | |||
| Cash payments fo expenses | (860,037) | |||
| Cash generated from operating activities | 233,932 | |||
| Interest paid | (52,558) | |||
| Income tax paid | (33,201) | |||
| Net cash from operating activities | 148,173 | |||
| INVESTING ACTIVITIES | ||||
| Interest received | 9,578 | |||
| Purchase of property, plant and equipment | (219,285) | |||
| Purchase of intangible assets | (6,943) | |||
| Additions to investment property | (5,466) | |||
| Proceeds fro disposal of property, plant and equipment | 3,002 | |||
| Proceeds from disposal of leasehold land | – | |||
| Net cash from investing activities | (219,114) | |||
| FINANCING ACTIVITIES | ||||
| Dividends Paid | (83,503) | |||
| Surrender of unclaimed assets | (6,776) | |||
| Repayment of borrowings | (1,690) | |||
| Net cash absorbed in financing | (91,969) | |||
| Decrease/Increase in cash and equivalents | (162,910) | |||
| Start Of Year | (86,705) | |||
| Decrease/Increase in cash and equivalents | (162,910) | |||
| Effects of exchange movements | 123 | |||
| At End Year | 249,492 |