Date: March 04, 2019
BRG reported year end revenue of $2.71 billion relative to 2.36 Billion in 2017 a 15% increase year over year.
The company’s total expenses totaled $2.50 billion up 18% relative to the $2.12 million reported in 2017. Of total expenses:
Raw materials and consumables used rose 23% to close at $1.38 billion relative to $1.12 billion incurred for the 12 months ended December 2017.
Manufacturing expenses increased 3% to close at $132. 60 million (2017: 129.29 million).
Depreciation expense closed the year end at $40.81 million (2017: $26.50 million).
Employee benefits expense increased 9% to $530.39 million (2017: $487.99 million).
Other operating expenses amounted to $450.23 million (2017: $349.82 million).
Other income declined for the year to $818,000 versus $14.90 million twelve months earlier.
Profit before taxes fell by 16% amounting to $212.16 million relative to the $253.81 million earned in 2017.
After taxation of $38.61 million (2017: $13.98 million), net profit for the period totaled $173.55 million a decrease of 28% relative to the $239.83 million reported in 2017.
Earnings per share for the year amounted to $0.81 (2017: $1.12). The stock price close the trading period on March 1, 2019 at a price of $19.57.
Balance Sheet at a glance:
Total Assets increased by 15% or $245.42 million to close at $1.93 billion as at December 31, 2018 from $1.68 billion the year prior. The movement was due to an increase in ‘Cash and Bank Balances’ and ‘Inventories’ which closed at $353.80 million (2017: $232 million) and $472 million (2017: 408.73 million).
Equity attributable to stockholders of the company as at December 31, 2018 stood at $1.14 billion (2017: $1.06 billion) resulting in book value per share of $5.32 (2017: $4.93).
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