KLE reports 10% increase in year end revenues

Date: April 3, 2018

K.L.E Group Limited (KLE) ,for the year ended December 31, 2017 recorded a total revenue of $215.43 million (2016: $195.94 million), representing a 10% increase in revenues.

Cost of sales for the year increased by 11% to $69.61 million compared to the $62.70 million reported in 2016; as a result, Gross profit was up 9% to total $145.82 million relative to $133.24 million in 2016.

Other operating income fell by 91% to $16.93 million relative to $182.71. In addition, Administrative and Other Expenses increased by 6% from $144.18 million in 2016 to $152.48 million for of 2017.

Consequently, profit from operation amounted to $10.26 million in contrast to the $171.76 million for the same period last year, representing a 94% decrease.

Finance and depreciation costs declined to $2.37 million when compared to $2.76 million for the same period of 2016, a 14% decline.

The Company reported tax credits in the sum of $810,000 relative to $857,000 a year earlier. As such, KLE recorded a 95% reduction in net profit to $8.95 million compared to net profit of $165.28 million for the comparable period last year.

Total comprehensive income for the year amounted to $9.57 million relative to $163.92 million in 2016.

Earnings per share amounted to $0.09 for the year relative to $1.65 in 2016. The number of shares used in our calculations is 100,000,000. The stock last traded on March 29, 2018 at $2.50.

Balance Sheet Highlights:

The company, as at December 31, 2017, recorded total assets of $205.19 million, a decline of 8% when compared to $223.54 million in 2016.

Total Stockholders’ Equity as at December 31, 2017 was $139.77 million, up from $130.20 million last year resulting in a book value of $1.40 (2016: $1.30).

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2018-04-03T20:45:29+00:00