February 14, 2020
Carreras Limited (CAR), for the nine months ended December 31, 2019 reported Operating Revenue of $10.28 billion, 4% more than the $9.86 billion booked in 2018. Revenue for the quarter increased by 2% compared to the corresponding quarter moving to $3.64 billion in 2019 from $3.55 billion in 2018.
Cost of Operating Revenue also increased year over year by 5%, amounting to $5.20 billion in 2019 from $4.96 billion recorded in 2018.
As such, Gross Operating Profit went up by 4% to total $5.08 billion relative to the $4.91 billion in 2018.
Other Operating Income decreased 41% moving from $48.31 million in 2018 to $28.36 million in 2019.
Administrative, distribution and marketing expenses increased 18% to total $1.88 billion (2018: $1.59 billion). The company stated “The increase over the prior period relates to the heightened investments in our brands as well as increased route to market costs, both of which have begun to positively impact our business performance.”
Profit before Income Tax was recorded at $3.28 billion in 2019 relative to $3.41 billion in 2018. Taxation of $825.86 million was incurred for the period (2018: $856.03 million).
Net Profit for the nine months decreased 4% to $2.45 billion relative to $2.55 billion booked in 2018. Net Profit for the third quarter saw a 13% decline amounting to $704.10 million compared to the $810.93 million reported in the third quarter 2018 period. In addition, Net profit attributable to shareholders for the period closed at $2.45 billion compared to $2.55 billion reported for the corresponding period in 2018.
Earnings per share (EPS) for the period was $0.50 as compared to $0.53 for the corresponding period of last year, while EPS for the quarter amounted to $0.15 (2018: $0.17). The twelve month trailing EPS amounted to $0.68. The number of shares used in the computations amounted to 4,854,400,000 units. CAR closed the trading period on February 14, 2020 at $8.07.
Balance Sheet at a glance:
Total Assets amounted to $4.18 billion as at December 31, 2019, up $569.38 million (16%) from $3.61 billion reported in 2018. This was mainly due to a significant increase of $221.77 million in Cash and Cash equivalents to end the period at $2.17 billion (2018: $1.95 billion). ‘Accounts Receivables’ contributed to this increase amounting to $1.01 billion (2018: $861.29 million).
Shareholders’ Equity attributable to stockholders of parent amounted $1.41 billion (2018: $1.34 billion) with book value per share of $0.29 (2018: $0.28).
Analyst Certification -This research report is for information purposes only and should not be construed as a recommendation. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation (s) or view (s) expressed by that research analyst in this research report.
Company Disclosure -The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.
