SOS reported 6% increase in net profit for second quarter 2017

SOS reported six months revenue of $431.79 million relative to 353.48 million in 2016 a 22% increase, while for the second quarter revenues amounted to $211.603 million up 24% compared to the $171.05 million reported in the corresponding period of 2016.

The company’s cost of sales totaled $223.60 million up 24% relative to the $180.65 million reported in 2016. As a result gross profit grew by 20% amounting to $208.18 million relative to the $172.82 million booked in 2016, while gross profit for the quarter totaled $99.54 million (2016: $79.33 million).

Administrative expenses totaled $107.24 million up 18% compared to the $90.92 million booked in 2016, while selling and promotion expenses grew by 22% closing the period at $34.73 million relative to the $28.39 million reported in 2016.

The company’s depreciation cost amounted to $10.04 million an increase of 35% relative to the $7.44 million incurred in 2016, while finance cost rose by 6% to close at $4.87 million (2016: $4.58 million).

Profit before taxes grew by 17% amounting to $50.41 million relative to the $37.78 million earned in 2016.

After income tax expense of $8.76 million (2016: 8.55 million), net profit for the period totaled $41.65 million an increase of 42% relative to the $29.23 million reported in 2016. Net profit for the quarter amounted to $11.54 million, up 40% from the $8.26 million earned in 2016.

Earnings per share for the quarter amounted to $0.05 (2016: $0.03), while EPS for the period totaled $0.17 relative $0.12 in 2016. The twelve month trailing EPS amounted to $0.24

 

Balance Sheet at a glance:

Total Assets increased by 62% or $210.95 million to close at $548.76 million as at June 30, 2017 from $337.81 million the year prior. The increase in total assets was primarily driven by an increase in property plant and equipment which totaled $268.76 million in 2017 (2016: $119.92 million).

Equity attributable to stockholders of the company as at June 30, 2017 stood at $284.29 million (2016: $118.95 million) resulting in book value per share of $1.14 (2016: $0.48). The number of shares used in our calculations amounted to 250,120,500 units.

 

 

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2017-09-07T00:00:22+00:00