PBS netted loss of US$234 thousand for 1Q 2018

June 8, 2018

Productive Business Solutions Limited (PBS) for the three months ended March 2018, reported a 1% decline in revenues from US$42.45 million for the 2017 period to US$42.20 million in 2018.

Direct expenses recorded a decline to close the period at $US$23.44 million when compared to US$23.90 million for the same period of 2017. As such, gross profit for the period improved 1% to US$18.76 million (2017: US$18.55 million). Selling, General and Administrative Expenses amounted to US$16.81 million, US666, 000 more than that reported in 2017. As such, operating profit decrease by 22% to total US$2.11 million relative to the US$2.70 million in 2017.

Finance costs increased 1% to total US$1.88 million relative to US$1.86 million in 2017. As a result, the company recorded a net loss before taxation of US$229,000 relative to a loss of US$838,000.

After taxation of US463,000 (2017: US$389,000) the company reported a net loss of US$234,000 relative to net profit of US$449,000 million in 2017. Total Comprehensive Loss for the period attributable to shareholders was US$443,000  relative to US$916,000  reported the prior year.

For the period the company reported LPS of US$0.004 (2017: US$0.007). The twelvemonth trailing LPS was US0.045. The stock price closed trading on June 7, 2018 at US$0.62.

 Balance Sheet at a glance:

As at March 31, 2018, PBS had total assets totaling US108.97 million relative to the US$109.13 million recorded in 2017. The dip in total asset is due a 6.05% fall in current asset.

Shareholders Equity amounted to $US38.08 million  with a book value per share of $US0.309.


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