December 30, 2022
Cargo Handlers Limited (CHL), for the year ended September 30, 2022, posted revenue totaling $472.34 million up 40% from the $337.31 million booked in 2021. Revenue for the quarter improved by 44% to $118.67 million from $82.45 million booked for the same quarter of 2021.
No cost of sales was reported for the period, (2021: nil). As such, CHL recorded gross profit of $472.34 million (2021: $337.31 million) for the year ended September 30, 2022. Gross profit for the quarter closed at $118.67 million versus $82.45 million for the same quarter of 2021.
CHL booked other income of $18.30 million (2021: $23.81 million). Administrative expenses totalled $27.28 million (2021: $23.73 million), while other operating expenses stood at $196.24 million (2021: $154.20 million).
CHL recorded an operating profit of $267.12 million, compared with $177.53 million reported for the corresponding period in 2021. Operating profit for the quarter closed at $61.26 million (2021: $39.52 million).
The Company reported finance cost of $1.34 million for the period; this compares to the finance cost of $1.18 million for the same period in 2021. Interest income year to date amounted to $14.19 million (2021: $2.24 million).
Profit before taxation rose to $337.44 million versus $207.18 million documented for the same period in 2021. Pre-tax profits for the fourth quarter closed at $91.98 million (2021: $48.62 million).
Net profit increased to $289.17 million (2021: $159.60 million) following taxation $48.28 million (2021: $47.58 million). Likewise, net profit for the quarter increased to $75.68 million relative to $41.90 million in the previous corresponding quarter.
Earnings per share (EPS) for the year ended September 30, 2022, amounted to $0.69 (2021: $0.38). EPS for the quarter amounted to $0.18 (2021: $0.10). CHL stock price closed the trading period on December 29, 2022, at a price of $12.46 with a corresponding P/E ratio of 12.39 times.
Balance Sheet at a Glance:
As at September 30, 2022 ‘Total assets’ went rose by 28% to $884.09 million (2021: $690.30 million). This increase was primarily driven by a 78% growth in ‘Receivables which totaled $66.16 million (2021: $37.12 million).
Shareholders’ equity as at September 30, 2022, amounted to $788.56 million (2021: $593.06 million) resulting in a book value per share of $1.89 (2021: $1.42).
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