1834 Investments Limited (1834)
For the six months ended September 30, 2017
Revenue for the period declined by 23% from $29.26 million for the comparable period in 2016 to $22.45 million year to date. Other Operating Income increased by 206% to $74.54 million (2016: $24.38 million). Consequently, Total Income for the period increased by 81% to $97 million relative to $53.63 million for the comparable period last year. Total Income declined 45% for the quarter to $11.30 million relative to $20.47 million for the second quarter in 2016.
Total Expenses decreased by 18% from $49.80 million in 2016 to $40.65 million in 2016. As such, Profit from Operations increased significantly by $52.51 million to $56.34 million year-to-date (2016: $3.84 million).
Finance Costs dropped 99% from $1.35 million booked for the six months ended September 30, 2016 to $15,000 for the comparable period in 2017. Profit from continuing operations before other income surged $53.84 million to $56.33 million relative to $2.49 million booked for the comparable period in 2016.
Share Profit from Interest in associate net of tax declined from a $35.13 million to $5.02 million for the first six month ended September 30, 2017. As a result, Profit from continuing operations before tax amounted to $61.35million, a growth of $23.73 million versus $37.62 million in 2016.
There was a tax charges of $6.49 million year-to-date were booked compared to $5.64 million the prior year. Consequently, Profit for the period from continuing operations amounted $54.86 million relative to $31.98 million for the corresponding period last year. The company however reported a loss of $5.46 million for the quarter.
The earnings per share for the six month period amounted to $0.045 versus $0.026 the prior year’s corresponding period. For the quarter, the earnings per share amounted to $0.0045 $0.0159 versus a loss per share of $0.0164 $0.005 in the year prior quarter. The twelve months trailing earnings per share is $0.0291, and the number of shares used in this calculation was 1,211,243,827 units.
Balance Sheet Highlights:
The company, as at September 30, 2017, recorded total assets of $1.76 billion, a decrease of 14% when compared to $2.06 billion recorded last year. the movement was attributed to a 28% decline in Non-current assets which closed at $1.33 billion
Total Stockholders’ Equity as at September 30, 2017 closed at $1.68 billion, a 4% decline from $1.76 billion the prior year. This resulted in a book value of $1.39 compared to the value of $1.45 as at September 30, 2016.
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