Date: May 30, 2018
Carreras Limited (CAR), for the financial year ended March 31, 2018Carreras Limited Operating Revenue of $12.55 billion, a 7% decrease compared to $13.51 billion recognized in 2017. Cost of Operating Revenue also declined year over year by 10%, amounting to $6.25 billion for the period from $6.97 billion in 2017. Notwithstanding the decrease in costs, Gross Operating Profit fell by 4% to total $6.30 billion (2017: $6.54 billion). Gross profit for the fourth quarter amounted to $1.51 billion compared to $1.49 billion for the comparable period in 2017.
Other Operating Income decreased 35% for the period to $223.72 million (2017: $342.92 million).
Total Operating Expenses rose by 1% to total $1.89 billion relative to $1.87 billion in 2017. Of this, Administrative, Distribution and Marketing Expenses totaled $1.85 billion, inching up 0.4% relative to $1.84 billion in the corresponding period for 2017. Employee Benefit Income for the year advanced 22% to close at $39.3 million (2017: $32.30 million).
As such, Profit before Income Tax was recorded at $4.64 billion relative to $5.01 billion in 2017, a slight decrease of 7%. Following taxation of $1.15 billion for the year (2017: $1.20 billion), Net Profit Attributable to Shareholders amounted to $3.48 billion down 8% from the $3.81 billion booked for the corresponding period last year. For the quarter Net Profit Attributable to Shareholders totaled $969.74 million (2017: $1.01 billion).
The Earnings per share (EPS) for the period was $0.72 as compared to $0.78 for the corresponding period of last year. EPS for the quarter totaled $0.20 relative to $0.21 for the comparable period of 2017. The trailing twelve months earnings per share amounted to $0.72. The number of shares used in this calculation was 485,440,000 units. CAR’s stock price closed in May 30, 2018 at $10.29.
Balance Sheet at a glance:
Total Assets totaled $3.98 billion as at March 31, 2018, down year over year by 5% from $4.18 billion a year ago. The decrease in total assets was driven mainly by a 53% decline in Inventories moving from $472.72 million in 2017 to $223.18 million in 2018. Account Receivables also increased 49% to closed at $910.99 million (2017:611.99 million).
Shareholders’ Equity attributable to stockholders of parent amounted $2.04 billion (2017: $2.13 billion), resulting in a Book Value per share of $0.42 (2017: $0.44).
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