November 14, 2022
Pulse Investments Limited (PULS)
Unaudited results for the three months ended September 30, 2022:-
Pulse Investments Limited (PULS), for the three months ended September 30, 2022 reported in an increase in revenue of 18% quarter on quarter, closing the period at $257.59 million, up from $217.91 million in 2021.
Administrative and Other Expenses increased 25%, closing the period at $77.49 million relative to $62.09 million of last quarter. This resulted in gross profit increasing by 16%, closing the period at $180.09 million compared to the $155.82 million posted in 2021.
Profit before finance costs amounted to $581.71 million, an increase of 43% relative to the $406.37 million recorded last quarter. Finance Cost rose by 133%, closing the quarter at $19.68 million (2021: $8.43 million).
Pre-tax profit of $562.03 million (2021: $397.94 million). Taxes of $500,000 (2021: nil) were deducted for the quarter.
Lastly, Net Profit rose by 41%, closing the quarter at $561.53 million, up from $397.94 million in the prior comparable quarter.
Total Comprehensive Income for the first quarter amounted to $584.68 million relative to the $418.98 million booked in 2021.
Earnings per share amounted to $0.09 for the first quarter relative to $0.06 in 2021. Trailing Twelve Months (TTM) earnings per share amounted to $0.30. The number of shares used in the calculations is 6,522,952,176 units. PULS last traded on November 11, 2022 at $3.22 with a corresponding P/E of 10.73 times.
Balance Sheet Highlights:
Assets totalled $9.91 billion, a year over year increase of 35% relative to the $7.34 billion booked the year prior. This movement was driven by an increase in ‘Investment Properties’ which closed at $6.86 billion (2021: $5.33 billion) and ‘Advertising Entitlements’ totalling $1.95 billion (2021: $1.44 billion).
Shareholder’s Equity as at September 30, 2022 stood at $8.03 billion (2021: $6.01 billion) resulting in book value per share of $1.23 (2021: $0.92).
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