Date: May 16, 2019
PULSE for the nine months ended March 31, 2019 reported revenues of $345.32 million, a 10% increase from $313.23 million in 2018. Revenues for the quarter totaled $108.24 million, a 12% increase on the $96.45 million for the prior year.
Administrative and Other Expenses increased 2%, closing the period at $143.56 million (2018:$ 140.83 million).
As such, Operating Profit for the period increased 17%, closing at $76 million (2018:$ 172.40 million).
The Company booked a Fair Value Appreciation on Investment Property for the period of $95 million, a 46% increase on the $90.15 million recorded for the corresponding period in 2018.
Profit before finance costs totaled $72 million for the nine months relative to the $262.55 million in 2018, reflecting a 27% increase year over year.
Finance Cost increased by 85%, thereby closing the nine month period at $71 million (2018:$2.55 million).
Net Profit attributable to shareholders grew by 27%, closing the year at $01 million, up from $260 million a year ago. For the third quarter net profit increased 30% to $108.19 million from $83.06 million reported in 2018.
Total comprehensive for the nine months ended March 2019 was $68 million versus $267.42 million 2018. Total comprehensive for the quarter amounted to $112.41 million (2018: $85.54 million)
Earnings per share amounted to $0.20 for the period relative to $0.16 in 2018. EPS for the quarter amounted to $0.07 (2018: $0.05). The twelve months trailing EPS amounted to $0.23. The number of shares used in the calculations is 1,630,738,044 As at May 16, 2019 PULSE stocked traded at $2.71.
Balance Sheet Highlights
As at March 31, 2019, PULSE’s Total Assets totaled $3.29 billion, a year over year increase of 17% relative to the $2.81 billion booked the year prior. The increase was attributed to ‘Investment Property’ which closed at $1.95 billion (2018: $1.62 billion). Advertising entitlements receivable also aided the overall movement in the asset base. Advertising entitlements receivable increased from $669.24 million as at March 31, 2018 to $825.03 million for the comparable period in 2019.
Shareholder’s Equity as at March 31, 2019 stood at $2.92 billion (2018: $2.55 million) resulting in book value per share of $1.79 (2018: $1.57).
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.
