November 15, 2022
Productive Business Solutions Limited (PBS) for the nine months ended September 30, 2022 reported a 56% increase in revenue to US$226.97 million (2021: US$145.46 million). For the quarter, it increased 64% to US$69.38 million (2021: US$42.41 million).
Direct expenses increased 60% to US$155.82 million (2021: US$97.17 million). As such, gross profit increased 47% to US$71.15 million (2021: US$48.29 million). For the quarter, it amounted to US$24.24 million (2021: US$17.92 million).
Other income increased 327% to US$2.15 million (2021: US$503,000). Selling, general and administrative expenses amounted to US$51.80 million (2021: US$43.14 million), reflecting a 20% year over year increase.
Operating profit increased 280% to US$21.50 million (2021: US$5.66 million). For the quarter, it increased 420% to US$8.79 million (2021: US$1.69 million).
Finance costs increased 101% to US$13.08 million (2021: US$6.50 million).
As such, profit before taxation amounted to US$8.42 million (2021: loss of US$839,000). For the quarter, it closed at US$3.86 million (2021: loss of US$1.31 million).
After taxation of US$4.10 million (2021: US$1.40 million), net profit amounted to US$4.32 million (2021: loss of US$2.24 million). For the quarter, net profit amounted to US$1.96 million (2021: loss of US$1.56 million).
Net profit attributable to shareholders amounted to US$4.29 million (2021: loss of US$2.29 million). For the quarter, it amounted to US$1.97 million (2021: loss of US$1.60 million).
Total comprehensive profit attributable to shareholders was US$4.59 million (2021: loss of US$3.34 million). For the quarter, it closed at US$3.87 million (2021: loss of US$1.41 million).
Earnings per share (EPS) amounted to US$0.023 (2021: LPS of US$0.0123). For the quarter, EPS totalled US$0.0106 (2021: LPS of US$0.0086), while twelve-month trailing EPS was US$0.065. The total number of shares employed in our calculations amounted to 186,213,523 units. The stock price closed trading on November 14, 2022 at US$2.00 with a corresponding PE ratio of 30.77 times.
Balance Sheet at a glance:
As at September 30, 2022, PBS had assets totalling US$387.06 million (2021: US$309.09 million), which represents an increase of 25%. This movement was mainly attributed to a 52% increase in ‘Trade and other receivables’ which closed at US$103.74 million (2021: US$68.30 million).
Shareholders Equity amounted to US$104.92 million (2021: US$77.89 million) with a book value per share of US$0.56 (2021: $0.42).
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