PULS reports $301.83 million in annual net profits

Date: October 18, 2018

Pulse Investments Limited (PULS), for the year ended June 30, 2018 reported that Revenue increased 14% year on year, closing the year at $444.04 million, up from $391.00 million in 2017, while for the fourth quarter revenue amounted to $130.81 million up 3% compared to the $127.34 million booked in 2017.

Administrative and Other Expenses increased 18%, closing the year at $256.86 million relative to $217.12 million of last year.

This resulted in operating profit increasing by 8%, closing the year at $187.18 million compared to the $173.88 million posted in 2017. For the quarter however, operating profit saw a decline of 54% to end the period at $14.78 million (2017: $32.33 million).

Other income amounted to $163.95 million, a 68% increase on the $97.62 million recorded for the 2017 financial year.

This resulted in Profit before finance costs of $351.13 million, an increase of 29% relative to the $271.50 million recorded last year.

Finance Cost hiked by 92%, closing the year at $5.95 million (2017: $3.09 million).

Taxes of $43.35 million were deducted for the twelve months subsequent to a pre-tax profit of $345.18 million (2017: $268.41 million).

Lastly, Net Profit attributable to members rose by 9%, closing the year at $301.83 million, up from $276.85 million a year ago, but for the quarter Net Profit totaled $41.83 million relative to $56.32 million reported in 2017, a 26% drop.

Total Comprehensive Income for the year amounted to $315.38 million relative to the $312.71 million booked in 2017, a small uptick of 1%.

Earnings per share amounted to $0.19 for the year relative to $0.17 in 2017. The number of shares used in the calculations is 1,630,738,044 units. PULS last traded on October 18, 2018 at $2.50.

Balance Sheet Highlights:

Assets totaled $2.90 billion, a year over year increase of 17% percent relative to the $2.48 billion booked the year prior. This movement was driven by an increase in ‘Investment Properties’ totaling $1.74 billion (2017: $1.48 billion) and ‘Advertising Entitlements’ totaling $715.04 million (2017: $567.24 million).

Shareholder’s Equity as at June 30, 2018 stood at $2.58 billion (2017: $2.29 billion) resulting in book value per share of $1.58 (2017: $1.40).

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.

2018-10-18T14:24:42+00:00