KLE reports $7.12 million in net profit for second quarter 2017

For the first half of the 2017 financial year, the company recorded a total revenue of $103.72 million (2016: $90.69 million), representing a 14% increase in revenue. While for the second quarter revenues increased 18% to total $54.32 million.

Cost of sales increased by 16% to $32.81 million compared to the $28.35 million reported in 2016; as a result, Gross profit was up 14% to total $70.91 million relative to $62.33 million in 2016.  While gross profit for the quarter grew 14% to total $37.04 million compared to $32.41 million in 2016.

Other operating income grew by 537% to $5.86 million relative to $919,000. In addition, Administrative and Other Expenses increased by 16% from $53.27 million in the first half of 2016 to $61.86 million for the same period of 2017.

Consequently, profit from operation amounted to $14.91 million in contrast to the $9.98 million for the same period last year, this represents a 49% increase.

The company recorded finance income of Nil relative to $155.54 million last year. Finance and depreciation costs declined to $7.8 million when compared to $11.01 million for the same period of 2016.

This further resulted in a net profit for the period of $7.12 million compared to net profit of $154.15 million for the comparable period in 2016.

Earnings per share amounted to $0.07 for the nine months, (2016: earnings per share $1.54) while EPS for the quarter totaled $0.050 this compares to EPS of $0.0004 in 2016.  The twelve-month trailing earnings per share (EPS) amounted to $0.18. The number of shares used in our calculations is 100,000,000.

 

 Balance Sheet Highlights:

The company, as at June 30, 2017, recorded total assets of $223.98 million, a decline of 0.19% when compared to $224.39 million in 2016.

Total Stockholders’ Equity as at June 30, 2017 was $141.90 million, up from $127.27 million last year. This resulted in a book value of $1.42.

 

 

 

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2017-08-15T17:21:43+00:00