Increased net sales pull up Systems Ltd’s half yearly profits by 63%

06:17
August 28, 2018
MG

Systems Limited reported a commendable increase of 63% in half yearly profits on year-on-year basis, mainly due to top line increment and additions in non-core income.

During the company’s Board of Directors meeting held on August 27^th 2018, the board reviewed its financial earnings for the half year ended on June 30^th 2018.

As compared to the half year period ended on June 30^th 2017, Systems’ net revenue grew by 38% while gross profits rose by 31%.

Although administrative expenses registered an increase of 44%, other income grew simultaneously, cancelling out the negative effect to some extent.

Overall profits for the period increased from Rs.277.6 million to Rs.453 million, while earnings per share are reported to be at Rs.8.20 per share.

Profit and Loss account for the half year ended June 30th 2018 (Rupees)
	Jun-18	Jun-17	% Change
Revenue – net	2,331,108,188	1,682,399,849	38.56%
Cost of sales	1,679,069,483	1,185,271,966	41.66%
Gross profit	652,038,705	497,127,883	31.16%
Distribution cost	65,146,617	42,681,500	52.63%
Administrative expenses	232,527,168	161,231,212	44.22%
Operating profit	354,364,920	293,215,171	20.85%
Other income	162,471,614	30,021,069	441.19%
Other operating expenses	46,162,700	37,074,557	24.51%
Finance costs	8,087,125	2,835,021	185.26%
Profit before taxation	462,586,709	283,326,662	63.27%
Taxation	9,541,840	5,722,298	66.75%
Profit after taxation	453,044,869	277,604,364	63.20%
Earnings per share – basic and diluted	8.20	5.06	62.06%

Posted on: 2018-08-28T11:17:00+05:00

22779

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8	INR	83.29840	83.33540	83.33540	83.29840	08:31 AM
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19	MXN	17.06890	17.07390	17.07393	17.06893	08:31 AM
20	TRY	32.50130	32.51130	32.51130	32.50130	08:31 AM
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22	ZAR	18.98880	19.02070	19.02070	18.98880	08:31 AM
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25	ARS	873.23800	873.24600	873.24612	873.23772	08:31 AM
26	BDT	108.07500	111.43200	111.43230	108.07535	07:19 AM
27	BHD	0.37700	0.37705	0.37705	0.37700	05:31 PM
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30	KWD	0.30775	0.30785	0.30785	0.30775	05:31 PM
31	LKR	293.76400	300.29200	300.29187	293.76440	07:19 AM
32	OMR	0.38498	0.38503	0.38503	0.38498	05:31 PM
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40	PHP	57.73900	57.84100	57.84100	57.73900	08:31 AM
42	NGN	1,266.52000	1,267.52000	1,267.52000	1,266.52000	06:48 AM
43	KES	134.00000	136.00000	136.00000	134.00000	08:09 AM
44	AMD	388.60000	388.60000	388.60000	388.60000	08:11 AM
45	TWD	32.56730	32.59730	32.59730	32.56730	08:31 AM
46	XAU	2,326.27000	2,326.71000	2,326.71000	2,326.27000	08:31 AM
47	XAG	27.33620	27.34280	27.34280	27.33620	08:31 AM
48	XPT	905.40000	906.90000	906.90000	905.40000	05:31 PM
49	XPD	1,002.00000	1,007.00000	1,007.00000	1,002.00000	05:31 PM
2,120	VES	36.29670	36.38780	36.38776	36.29673	08:00 PM
2,212	UGX	3,768.22000	3,852.14000	3,852.14334	3,768.21865	07:19 AM
2,213	TZS	2,579.99000	2,580.01000	2,580.01500	2,579.98500	08:13 AM

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Name	High	Current	Low	Change	% Change	Volume	Value	DateTime
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KMIALLSHR	33,911.61	33,699.441	33,542.23	42.921	0.128	560,837,784.0	22,833,398,111.890	25/04/2024 04:13 PM
BKTi	17,958.27	17,872.359	17,710.29	-16.250	-0.091	19,765,810.0	2,463,980,003.790	25/04/2024 04:13 PM
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