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).
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