Systems Ltd states profits of over Rs 2 billion for CY20

MG News | March 04, 2021 at 10:50 AM GMT+05:00

0:00

March 4, 2021 (MLN): Systems Limited has reported earnings of Rs. 2.16 billion (EPS: 17.78) for the year ended December 31, 2020, i.e. around 38% higher as compared to the earnings of last year.

The company paid a final cash dividend for the year at Rs. 3.5/-per share i.e. 35%. Moreover, the Board of Directors recommended to issue Bonus Shares in the proportion of 1 share(s) for every 10 share(s) held i.e. 10%.

The company posted revenues of Rs. 9.87 billion for the year, i.e. up by 31% on account of higher maintenance contracts. The company also benefitted from higher exports owing to a viable exchange rate.

While the company performed decently with respect to sales, it failed to control major costs as S&D and Administrative expenses increased by 13% and 3.4%, respectively.

The finance costs increased by nearly 42% due to higher working capital requirement.

Consolidated Profit and Loss account for the year ended December 31, 2020 (Rupees)
	Dec-20	Dec-19	% Change
Revenue from contracts with customers	9,876,827,710	7,535,648,069	31.07%
Cost of sales	(6,619,640,203)	(5,166,301,606)	28.13%
Gross profit	3,257,187,507	2,369,346,463	37.47%
Selling and distribution expenses	(201,024,729)	(178,002,387)	12.93%
Administrative expenses	(722,310,556)	(698,066,995)	3.47%
Other operating expenses	(220,135,525)	(163,532,016)	34.61%
Other income	235,201,038	318,491,575	-26.15%
Finance cost	(66,659,676)	(47,022,121)	41.76%
Profit before taxation	2,282,258,059	1,601,214,519	42.53%
Taxation	(117,960,376)	(33,281,698)	254.43%
Profit after taxation	2,164,297,683	1,567,932,821	38.04%
Earnings per share - basic and diluted	17.78	12.86	38.26%

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	134,299.77 290.06M	0.39% 517.42
ALLSHR	84,018.16 764.12M	0.48% 402.35
KSE30	40,814.29 132.59M	0.33% 132.52
KMI30	192,589.16 116.24M	0.49% 948.28
KMIALLSHR	56,072.25 387.69M	0.32% 180.74
BKTi	36,971.75 19.46M	-0.05% -16.94
OGTi	28,240.28 6.19M	0.21% 58.78

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	118,140.00	119,450.00 115,635.00	4270.00 3.75%
BRENT CRUDE	70.63	70.71 68.55	1.99 2.90%
RICHARDS BAY COAL MONTHLY	97.50	0.00 0.00	1.10 1.14%
ROTTERDAM COAL MONTHLY	108.75	108.75 108.75	0.40 0.37%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	68.75	68.77 66.50	2.18 3.27%
SUGAR #11 WORLD	16.56	16.60 16.20	0.30 1.85%