Productive Business Solutions Limited (PBS)
for the nine months ended September 30, 2017:
Productive Business Solutions Limited (PBS) for the nine months ended September 30, 2017, reported a 2% decline in revenues from US$128.69 million for the 2017 period to US$125.64 million in 2017. While for the third quarter revenues totaled US$42.24 million relative to US$41.63 million in 2016 an increase of 1%.
Direct expenses recorded a decline to close the period at $US$71.97 million when compared to US$75.64 million for the same period of 2016. As such, gross profit for the period improved 1% to US$53.67 million (2016: US$53.06 million). Selling, General and Administrative Expenses amounted to US$49.59 million, US199,000 more than that reported in 2016. As such, operating profit declined by 7% to total US$4.13 million relative to the US$4.45 million in 2016.
Finance costs increased 41% to total US$6.48 million relative to US$4.60 million in 2016. As a result, the company recorded a net loss before taxation of US$2.35 million relative to a loss of US$156,000.
After taxation of US784,000 (2016: US$916,000) the company reported a net loss of US$3.14 million relative to US$1.07 million in 2016. For the quarter net loss amounted to US$1.15 million relative to US$384,000. Total Comprehensive Loss for the period attributable to shareholders was US$3.56 million relative to US$1.52 million reported the prior year. For the quarter total comprehensive loss attributable to shareholders was US$1.39 million (2016: US$359,000).
For the period the company reported LPS of US$0.029 (2016: US$0.012). For the quarter LPS was US$0.011 relative to US$0.003 . The twelvemonth trailing LPS was US0.043. The stock price closed trading on November 15, 2017 at US$0.58.
Balance Sheet at a glance:
As at September 30, 2017, PBS had total assets totaling US144.76 million. Shareholders Equity amounted to $US39.85 million with a book value per share of $US0.32.
Disclaimer:
Analyst Certification -The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation (s) or view (s) expressed by that research analyst in this research report.
Company Disclosure -The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.
