Stationery & Office Supplies Ltd. (SOS)
For the nine months ended June 30, 2017: –
SOS reported nine months revenue of $664.87 million relative to $523.72 million in 2016 a 27% increase, while for the third quarter revenues amounted to $233.09 million up 37% compared to the $170.24 million reported in the corresponding period of 2016.
The company’s cost of sales totaled $346.35 million up 30% relative to the $266.94 million reported in 2016. As a result, gross profit grew by 24% amounting to $318.52 million relative to the $256.78 million booked in 2016.
Administrative expenses totaled $170.59 million up 21% compared to the $141.53 million booked in 2016, while selling and promotion expenses grew by 29% closing the period at $54.68 million relative to the $42.33 million reported in 2016.
The company’s depreciation cost amounted to $15.09 million an increase of 35% relative to the $11.16 million incurred in 2016, while finance cost declined by 25% to close at $7.30 million (2016: $9.79 million).
SOS booked a loss on foreign exchange of $1.17 million versus a loss of $4.59 million reported for the comparable period of 2016.
Profit before taxes grew by 45% amounting to $69.21 million relative to the $47.62 million earned in 2016. After income tax expense of $10.09 million (2016: $11.05 million), net profit for the period totaled $59.11 million an increase of 62% relative to the $36.57 million reported in 2016. Net profit for the quarter amounted to $17.46 million, up 138% from the $7.34 million earned in 2016.
Earnings per share for the quarter amounted to $0.07 (2016: $0.03), while EPS for the period totaled $0.24 relative $0.15 in 2016. The twelve-month trailing EPS amounted to $0.28
Balance Sheet at a glance:
Total Assets increased by 84% or $210.95 million to close at $279.67 million as at September 30, 2017 from $333.88 million the year prior. The increase in total assets was primarily driven by an increase in property plant and equipment which totaled $263.90 million in 2017 (2016: $116.90 million). Bank and Cash also increased $39.032 million to total $43.94 million relative to $4.92 million in 2016.
Equity attributable to stockholders of the company as at September 30, 2017 stood at $389.90 million (2016: $125.25 million) resulting in book value per share of $1.56 (2016: $0.50). The number of shares used in our calculations amounted to 250,120,500 units.
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