November 9, 2020
Pulse Investments Limited (PULS), for the three months ended September 30, 2020 reported a $17.41 million increase in operating revenue to $166.69 million in the first quarter relative to $149.27 million the prior year, representing a 12% increase.
Administrative and other expenses amounted to $55.52 million (2019: $50.34 million), an increase of 10% year over year. Operating profit for the three months ended September 30, 2020 improved 12% to close at $111.17 million (2019: $98.93 million).
Fair value appreciation on investment property amounted to $190.28 million from the $145.41 million recorded for the prior year’s corresponding period, a 31% uptick.
Consequently, profit before net finance costs improved 23% to $301.45 million up from $244.35 million for the comparable period in the prior year.
The Company reported no finance costs for the first three months ended September 2020 relative to $1.63 million booked for the same quarter of 2019.
As a result, net profit totalled $301.45 million, a 24% increase relative to the $242.71 million in 2019.
Total comprehensive income for the quarter amounted to $315.59 million relative to $256.47 million in 2019.
The earnings per share (ESP) for the three-month period amounted to $0.05 when compared to $0.04 reported for the prior year’s corresponding period. The twelve months trailing earnings per share amounted to $0.14. The stock traded at $4.78 as at November 6, 2020. The number of shares used in this calculation was 6,522,952,176 units.
Balance Sheet Highlights:
The company, as at September 30, 2020, recorded total assets of $4.97 billion, an increase of 28% when compared to $3.89 billion recorded last year. This was mostly due to an increase in the company’s investment properties which rose to $3.28 billion, $785.49 million more than 2019’s $2.50 billion.
Total Stockholders’ Equity as at September 30, 2020 closed at $4.40 billion, a 26% increase from $3.49 billion for the corresponding period last year. This resulted in a book value of $0.68 compared to the value of $0.54 as at September 30, 2019.
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