September 17, 2024
CAC 2000 Limited (CAC)
Unaudited financials for the nine months ended July 31, 2024:
CAC 2000 Limited (CAC) for the nine months ended July 31, 2024, reported a 18% increase in Revenue totaling $752.81 million compared to $637.76 million in the corresponding period last year. Revenue for the third quarter had a 22% increase to close at $307.27 million compared to $251.26 million for the comparable quarter of 2023.
Cost of Sales amounted to $497.54 million (2023: $402.57 million), this represents an increase of 24% year over year. Consequently, gross profit increased by 9% to $255.27 million compared to $235.20 million for the nine months ended July 31, 2023. The company booked gross profit of $106.30 million for the third quarter versus $80.31 million reported for the similar quarter of 2023.
Selling & Distribution expenses increased by 36% to close at $14.48 million (2023: $10.62 million), while Administration expenses decreased by 2% from $247.70 million in 2023 to $241.99 million in the period under review. As a result, total expenses for the nine months ended July 31, 2024, amounted to $256.47 million, a 1% decrease relative to $258.32 million reported in 2023.
Operating Loss for the nine months ended July 31, 2024, amounted to $243,363, down 99% from operating loss of $19.94 million reported in 2023. Operating Profit for the third quarter amounted to $21.66 million (2023: Operating loss of $1.86 million).
Net Finance cost totalled $38.21 million, a 31% decrease from the corresponding period last year. (2023: $55.53 million).
Loss before taxation for the nine months ended July 31, 2024, amounted to $38.45 million, relative to pretax loss of $75.47 million reported in 2023. Profit before taxation for the third quarter amounted to $11.72 million (2023: Loss of $24.32 million).
Tax charge for the nine months ended July 31, 2024, totalled $3.28 million (2023: Tax credit of $4.75 million). As such, Net loss for the nine months amounted to $41.74 million, down 41% from net loss of $70.72 million reported in 2023. For the third quarter, Net Income was $11.72 million (2023: Net loss of $26.87 million).
Consequently, Loss Per Share for the nine months amounted to $0.32 (2023: LPS: $0.55), while Earnings Per Share for the quarter totaled $0.09 (2023: LPS: $0.21). The twelve-month trailing LPS was $0.54 and the number of shares used in these calculations was 129,032,258.
Notably, CAC’s stock price closed the trading period on September 16, 2024, at a price of $1.98.
Balance Sheet Highlights
The company’s assets totalled $1.34 billion (2023: $1.32 billion). The growth in total assets was mainly influenced by a $76.30 million uptick in ‘Trade and other receivables’ and a $40.78 million decrease in ‘Inventories’ during the period.
Total Shareholder’s equity was $300.84 billion (2023: $370.09 billion), representing a book value per share of $2.33 (2023: $2.87).
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