August 16, 2023
Carreras Ltd (CAR) for the three months ended June 30, 2023 reported a 23% increase in Operating Revenue totaling $4.31 billion compared to $3.49 billion in the corresponding period last year.
Cost of Operating Revenue amounted to $2.37 billion (2022: $1.92 billion), this represents a increase of 23% year over year. Consequently, gross operating profit increased by 24% to $1.93 billion compared to $1.57 billion for the three months ended June 30, 2022.
Other Operating Income increased by 137% to close at $28.27 million (2022: $11.91 million), while Administrative, Distribution and Marketing Expenses for the period under review closed at $601.68 million (2022: $645.54 million). As a result, total operating expenses for the three months ended June 30, 2023 amounted to $591.02 million, a 9% decrease relative to $646.07 million reported in 2022.
Profit before Income Tax for the three months ended June 30, 2023, amounted to $1.40 billion, a 49% increase relative to $939.69 million reported in 2022.
Income Tax for the three months ended June 30, 2023 had a 43% increase to reach $346.87 million (2022: $243.32 million). Profit for the Year for the three months amounted to $1.05 billion, a 51% increase from the $696.37 million reported in 2022.
Consequently, Earnings Per Share for the three months amounted to $0.22 (2022: EPS: $0.14). The twelve month trailing EPS was $0.82 and the number of shares used in these calculations was 4,854,400,000.
Notably, CAR’s stock price closed the trading period on August 15, 2023 at a price of $8.22 with a corresponding P/E ratio of 10x.
Balance Sheet Highlights
The company’s assets totalled $6.73 billion (2022: $5.38 billion). ‘Accounts receivables’ closed at $2.70 billion (2022: $1.87 billion).
Shareholder’s equity was $2.07 billion (2022: $1.67 billion), representing a book value per share of $0.43 (2022: $0.34).
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