Fontana Limited (FTNA)
Audited financials for the twelve months ended June 30, 2024:
Fontana Limited (FTNA) for the twelve months ended June 30, 2024, reported an 11% increase in Revenues totaling $8.13 billion compared to $7.32 billion in the corresponding period last year. Revenues for the fourth quarter had a 13% increase to close at $2.05 billion compared to $1.82 billion for the comparable quarter of 2023.
Cost of Sales amounted to $5.07 billion (2023: $4.69 billion), this represents an increase of 8% year over year. Consequently, gross profit increased by 16% to $3.06 billion compared to $2.63 billion for the twelve months ended June 30, 2023. The company booked gross profit of $777.43 million for the fourth quarter versus $599.37 million reported for the similar quarter of 2023.
Administrative and Other Expenses increased by 28% to close at $2.28 billion (2023: $1.78 billion), while Selling and Promotion expense decreased by 21% from $103.99 million in 2023 to $82.34 million in the period under review. As a result, total operating expenses for the twelve months ended June 30, 2024, amounted to $2.36 billion, a 25% increase relative to $1.88 billion reported in 2023.
Operating Profit for the twelve months ended June 30, 2024, amounted to $696.52 million, a 7% decrease relative to $745.75 million reported in 2023. Operating Profit for the fourth quarter amounted to $135.95 million (2023: $130.09 million). Finance and Policy Costs totalled $204.66 million a 4% increase from the corresponding period last year. (2023: $195.98 million).
Profit before Taxation for the twelve months ended June 30, 2024, amounted to $629.83 million, a 4% decrease relative to $656.77 million reported in 2023. Profit before Taxation for the fourth quarter amounted to $119.67 million (2023: $98.97 million).
Taxation Charge for the twelve months ended June 30, 2024, had increased to reach $40.05 million (2023: $1.57 million). Net Profit for the twelve months amounted to $589.78 million, a 10% decrease from the $655.20 million reported in 2023. For the fourth quarter, Net Profit was $94.38 million (2023: $97.41 million).
Consequently, Earnings Per Share for the twelve months amounted to $0.47 (2023: EPS: $0.52), while Earnings Per Share for the quarter totaled $0.08 (2023: EPS: $0.08). The twelve-month trailing EPS was $0.47 and the number of shares used in these calculations was 1,249,374,825.
Notably, FTNA’s stock price closed the trading period on September 20, 2024, at a price of $7.60 with a corresponding P/E ratio of 16.10x.
Balance Sheet Highlights
The company’s assets totalled $5.68 billion (2023: $5.13 billion). This increase was attributable to a rise in ‘Inventories’ amounting to $1.45 billion for the year ended June 30, 2024 (2023: $1.23 billion). Additionally, ‘Property, Plant and Equipment’ also contributed to the increase equating to $1.24 billion for the year ended June 30, 2024 (2023: $1.13 billion).
Shareholder’s equity was $2.91 billion (2023: $2.44 billion), representing a book value per share of $2.33 (2023: $1.95).
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