May 14, 2024
Regency Petroleum Limited (RPL)
Unaudited financials for the first quarter ended March 31, 2024:
Regency Petroleum Limited (RPL) for the first quarter ended March 31, 2024, reported a 121% increase in gross operating revenue totaling $404.68 million compared to $183.48 million in the corresponding three months last year.
Cost of Sales amounted to $336.18 million (2023: $150.98 million), this represents an increase of 123% year over year. Consequently, gross profit increased by 111% to $68.50 million compared to $32.50 million for the first quarter ended March 31, 2023.
Administrative Expenses increase by 174% to close at $32.82 million (2023: $11.96 million), while Selling & Distributive Expenses increase by 69% from $85,753 in 2023 to $144,682 for the three months. As a result, Operating Profit for the first quarter amounted to $35.68 million, a 74% increase relative to $20.50 million reported in 2023.
Profit before Finance Cost for the three months amounted to $35.68 million, a 74% increase relative to $20.50 million reported in 2023. Finance Costs totaled $1.92 million a 151% increase from the corresponding period last year. (2023: $764,941).
Pretax Profit for the first quarter ended March 31, 2024, amounted to $33.76 million, a 71% increase relative to $19.74 million reported in 2023.
There was no taxation reported for the quarter. Net Profit for the three months amounted to $33.76 million, a 71% increase from the $19.74 million reported in 2023.
Consequently, Earnings Per Share for the three months amounted to $0.02 (2023: EPS: $0.01). The twelve-month trailing EPS was $0.04, and the number of shares used in these calculations was 1,435,786,770. Notably, RPL’s stock price closed the trading period on May 14, 2024, at a price of $2.15 with a corresponding P/E ratio of 51.64x.
Balance Sheet Highlights
The company’s assets totaled $721.47 million (2023: $440.55 million). Additionally, the RPL’s liabilities totaled $252.91 million (2023: $43.62 million).
Shareholder’s equity was $468.56 million (2023: $408.57 million), representing a book value per share of $0.33 (2023: $0.28).
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