PULS reports 17% increase in nine months net profit

For the nine months ended March 31, 2017, Pulse Investment Limited (PULS) recorded operating revenue of $263.66 million, up 22% from the $216.35 million reported in 2016, while Operating Revenue for the three months ended March 2017 was up 16.3% to close at $75.17 million (2016: $64.65 million).

Administrative and Other Expenses grew by18%, closing the period at $122.11 million (2016: $103.13 million). For the three months ended March 2017, Administrative and Other Expenses amounted to $37.47 million relative to $33.21 million reported in the corresponding period of 2016; this represents a 12.8% increase.

As such, Operating Profit increased 25%, closing at $141.55 million (2016: $113.22 million)

There was a Fair Value Appreciation on Investment Property of $81.16 million, a 4% increase on the $78.24 million recorded for the corresponding period of the 2016.

As a result, Profit before Finance Costs totaled $222.71 million relative to the $191.47 million in 2016.

Finance Cost declined by 10%, closing the period at $2.18 million (2016: $2.41 million).

Consequently, Net Profit Attributable to Shareholders grew by17%, closing the nine months period at $220.53 million, up from $189.06 million a year ago. Net Profit for the three months amounted to $65.55 million a 14.8% increase relative to $57.12 million reported in 2016.

Earnings per share amounted to $0.24 for the three months ended March 2017 (2016: $0.21). For the nine months EPS totaled $0.81 (2016: $0.70). The twelve month trailing EPS amounted to $1.51. The number of shares used in the calculations is 271,789,674 units.

Balance Sheet Highlights
Total Assets totaled $2.37 billion, a year over year increase of 4% relative to the $2.28 billion booked the year prior.

Shareholder’s Equity as at March 31, 2017 stood at $2.22 billion (2016: $2.16 billion) resulting in book value per share of $8.19 (2016: $7.94).


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