PBS records US$3.56 million nine months total comprehensive loss attributable to shareholders

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.

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2017-11-16T20:32:59+00:00