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).

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