For the quarter ended June 30, 2017:-
Carreras Limited reported Operating Revenue of $2.82 billion, 16% lower than the $2.62 billion booked in 2016. Cost of Operating Revenue also decline year over year by 19%, amounting to $1.39 billion from $1.71 billion. As such, Gross Operating Profit declined by 13% to total $1.42 billion. Carrerras “We continue to reiterate the point that there is a direct relationship between high taxes and its impact on the legal volumes, Government’s revenues and the rise of the illicit trade. Affordability concerns for consumers are becoming apparent, when prices are too high in comparison with available incomes and what customers are willing to pay”.
Other operating income increased by 50% to $121.37 million from $80.92 million in the corresponding quarter in 2016.
Total Operating Expenses declined by 5% to total $529.41 million (2016:$556.93 million).
Profit before Income Tax was recorded at $1.01 billion relative to $1.16 billion in 2016. Following taxation of $255.64 million for the period (2016: $294.67 million), Net Profit Attributable to Shareholders amounted to $758.33 million down 12% from the $860.88 million booked last year.
The earnings per share (EPS) for the period was $1.56 as compared to $1.77 for the corresponding period oflast year. The number of shares used in the computations amounted to 485,440,000 units.
Balance Sheet at a glance:
Total Assets totalled $3.95 billion as at June 30, 2017, up $86.60 million from $3.87 million a year ago. The increase in total assets was driven mainly by increases in ‘accounts receivable’ by $204.02 million to total $704.98 million relative to $500.96 million booked in the first quarter of 2016. Property, Plant and Equipment also saw a 38% increase or $83.61 million to total $302.48 million.
Shareholders’ Equity attributable to stockholders of parent amounted $1.87 billion (2016: $1.81 billion) with book value per share of $3.85 (2016: $3.73).
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