February 14, 2022
Carreras Limited, for the nine months ended December 31, 2021, reported Operating Revenue of $11.72 billion, a 15% increase relative to $10.16 billion booked in 2021. Revenue for the quarter closed at $4.53 billion, compared to $4 billion reported for the second quarter of 2020.
Cost of Operating Revenue rose year over year by 17%, amounting to $6.09 billion from $5.22 billion. As such, Gross Operating Profit rose by 14% to total $5.63 billion relative to the $4.94 billion in 2020. Operating profit for the quarter amounted to $2.16 billion relative to $1.91 billion booked for the same quarter of 2020. Other Operating Income increased 148% moving from $44.74 million in 2020 to $110.98 million.
Administrative, distribution and marketing expenses increased 10% to total $1.66 billion (2020: $1.51 billion).
Interest income for the period amounted to $12.83 million, a 60% decline from the $31.73 million booked in 2020. Interest expense for the nine-month period closed at $13.78 million relative to $15.48 million in 2020.
Profit before Income Tax closed the period at $4.08 billion relative to $3.48 billion in 2020. Taxation of $1.03 billion was incurred for the nine months relative to $886.74 million reported a year earlier. Consequently, Net Profit for the nine months increased to $3.05 billion relative to $2.59 billion booked in 2020. Net profit for the quarter increased to $1.15 billion versus $1.03 billion booked for the third quarter of 2020.
The Earnings per share (EPS) for the period was $0.63 compared to $0.53 for the corresponding period of last year. EPS for the quarter amounted to $0.24 (2020: $0.21). The twelve-month trailing EPS amounted to $0.86. The number of shares used in the computations amounted to 4,854,400,000 units. CAR’s stock price last traded on February 14, 2021 at $8.20 with a corresponding P/E ratio of 9.49 times.
Balance Sheet Highlights:
Total Assets amounted to $5.01 billion as at December 31, 2021, 4% up from $4.83 billion reported in 2020. This was mainly due to a 129% increase in Accounts receivables which closed at $1.61 billion in contrast to $21.24 billion as at December 31, 2020.
Shareholders’ Equity attributable to stockholders of parent amounted $2.14 billion (2020: $1.99 billion) with book value per share of $0.44 (2020: $0.41).
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