Date: August 15, 2018
K.L.E Group Limited (KLE), for the six months ended June 30, 2018, the company recorded a total revenue of $110.04 million (2016: $103.72 million), representing a 6% increase in revenue. For the second quarter revenues increased 8% to total $58.66 million (2017: $54.32 million).
Cost of sales increased by 9% to $35.89 million compared to the $32.81 million reported in 2017; as a result, Gross profit was up 5% to total $74.15 million relative to $70.91 million in 2017. While gross profit for the quarter grew 7% to total $39.76 million compared to $37.04 million in 2017.
Other operating income grew by 112% to $12.42 million relative to $5.86 million. In addition, Administrative and Other Expenses increased by 22% from $61.86 million in the first half of 2017 to $75.25 million for the same period of 2018.
Consequently, profit from operation amounted to $11.31 million in contrast to the $14.91 million for the same period last year, this represents a 24% reduction. For the quarter, KLE booked $9.13 million, up 4% compared to the $8.76 million reported for the second quarter of 2017.
Finance and depreciation costs declined to $7.44 million when compared to $7.80 million for the same period of 2017.
This further resulted in a net profit for the period of $3.05 million compared to net profit of $7.12 million for the comparable period in 2017. Net profit for the quarter amounted to $5.05 million versus $5.03 million for the corresponding quarter of 2017.
Earnings per share amounted to $0.03 for the six months, (2017: $0.07) while EPS for the quarter totaled $ 0.051 this compares to EPS of 0.050 in 2017. The twelve-month trailing earnings per share (EPS) amounted to $0.05. The number of shares used in our calculations is 100,000,000. KLE’s stock last traded on August 14, 2018 at $2.88.
Balance Sheet Highlights:
The company, as at June 30, 2018, recorded total assets of $214.30 million, a decline of 4% when compared to $223.98 million in 2017. This was due to a decline in KLE’s Property, Plant & Equipment which closed at $38.77 million (2017: $52.95 million).
Total Stockholders’ Equity as at June 30, 2018 was $142.86 million, up from $141.90 million last year. This resulted in a book value of $1.43 (2017: $1.42).
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