PULSE recorded 18% increase in net profit for nine month ended March 2018

May 16, 2018

Revenue increased $31.39 million year on year, closing the period at $313.23 million, up from $263.66 million in 2017.

Administrative and Other Expenses increased 15%, closing the period at $140.83 million (2017:$122.11 million).

As such, Operating Profit increased 22%, closing at $172.40 million (2017:$141.55 million).

There was a Fair Value Appreciation on Investment Property of $90.15 million, an 11% increase on the $81.16 million recorded for the corresponding period of the 2017 financial year.

Profit before finance costs totaled $262.55 million relative to the $222.71 million in 2017, reflecting an 18% increase year over year.

Finance Cost increased by 17%, thereby closing the nine month period at $2.55 million (2017:$2.18 million).

Net Profit attributable to shareholders grew by 18%, closing the year at $260 million, up from $220.53 million a year ago. For the third quarter net profit increased 27% to $83.06 million from $65.55 million reported in 2017.

Total comprehensive for the nine months ended March 2018 was $267.42 million versus $227.96 million 2017.

Earnings per share amounted to $0.16 for the period relative to $0.14 in 2017. EPS for the quarter amounted to $0.05 (2017: $0.04). The twelve months trailing EPS amounted to $0.19. The number of shares used in the calculations is 271,789,674 units. As at May 16, 2018 PULSE stocked traded at $1.53.

Balance Sheet Highlights

Total Assets totaled $2.81 billion, a year over year increase of 18% relative to the $2.38 billion booked the year prior. The increase was attributed to investment property which closed at $1.62 billion (2017: $1.43 billion). Advertising entitlements receivable also aided the overall movement in the asset base. Advertising entitlements receivable increased from $524.19 million as at March 31, 2017 to $669.24 million for the comparable period in 2018.

Shareholder’s Equity as at March 31, 2018 stood at $2.55 billion (2017: $2.22 million) resulting in book value per share of $1.57 (2017: $1.57).


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