June 01, 2020
Carreras Limited, for the year ended March 31, 2020, reported operating revenue of $14.13 billion, 9% more than the $12.91 billion booked in 2019. Revenue for the quarter increased 26% to $3.84 billion (2019: $3.04 billion).
Cost of operating revenue, for the year ended March 31, 2020, increased year over year by 10%, amounting to $7.13 billion from $6.47 billion recorded in the year prior. As such, gross operating profit for the year ended March 31, 2020 went up 9% to total $6.99 billion (2019: $6.44 billion). For the quarter, gross profit closed at $1.91 billion versus $1.53 billion reported in the prior comparable quarter.
Other operating income for the year ended March 31, 2020 rose by 35% moving from $149.90 million in 2019 to $201.74 million in 2020. For the quarter, other operating income closed at $173.38 million (2019: $101.59 million).
Administrative, distribution and marketing expenses increased by 18% to total $2.37 billion (2019: $2.01 billion) for the year ended March 31, 2020. Impairment loss on trade receivables and employee benefits expense totalled $1.77 million (2019: $5.77 million) and $44.70 million (2019: $50.90 million), respectively. Lease interest expense amounted to $16.79 million (2019: nil).
Profit before income tax was recorded at $4.76 billion compared to $4.52 billion in the prior year. While, for the quarter, profit before income tax amounted to $1.48 billion (2019: $1.11 billion).
Net profit for the year end increased by 5% to $3.58 billion (2019: $3.41 billion), after incurring taxes of $1.18 billion (2019: $1.11 billion). For the quarter, net profit closed a $1.13 billion compared to $853.34 million reported in the same period last year.
Profit attributable to shareholders amounted $3.58 billion for the year ended March 31, 2020 (2019: $3.41 billion). Total comprehensive income for the year ended March 31, 2020 amounted to $3.54 billion (2019: $3.45 billion).
Earnings per share for the year ended March 31, 2020 was $0.74 (2019: $0.70), while for the quarter, EPS amounted to $0.23 (2019: $0. 18). The number of shares used in the computations amounted to 4,854,400,000 units. CAR closed the trading period on May 29, 2020 at $6.62.
Balance Sheets Highlights:
Total assets amounted to $4.23 billion as at March 31, 2020, up from $3.49 billion reported in 2019. This was mainly due to an increase in ‘Inventories’, ‘Accounts receivable’, and ‘Cash and cash equivalents’ which closed at $464.46 million (2019: $361.46 million), $995.31 million (2019: $779.07 million) and $2.02 billion (2019: $1.79 billion), respectively.
Shareholders’ equity attributable to stockholders of parent amounted $1.77 billion (2019: $1.34 billion) with book value per share of $0.37 (2019: $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.