PACE Pakistan reports Q1 losses of Rs. 33.93 million

MG News | October 26, 2017 at 01:24 PM GMT+05:00

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PACE Pakistan sales for the period decreased by 19.46%, amounting to a total of 78 million Rupees during three months ended September, 30^th 2017
Company’s Gross Profit increased by 42.56% owing to a substantial decline of 31% in cost of sales
The company suffered losses worth 33.93 million against last year’s profit of 131 million
The company’s earnings per share – basic reached -0.12 rupees in the last three months vs 0.47 in same quarter during 2016

Comparison of Key Financials
Unconsolidated Profit and Loss Account - For the Three Months Ended, September 30^th 2017
Key Financials	2017	2016	% Change
	Amounts in PKR’ 000
Sales	78,301	97,226	-19.46%
Cost of Sales	56,072	81,633	-31.31%
Gross Profit	22,229	15,593	42.56%
Admin and Selling Expenses	27,064	32,385	-16.43%
Other Income	7,242	207,797	-96.51%
Other operating expenses	7,533	829	808.69%
Profit/(Loss) from operations	(5,126)	190,176
Finance costs	27,833	31,856	-12.63%
Profit/(Loss) before Tax	(32,959)	158,320
Taxation	979	26,914	-96.36%
Profit/(Loss) for the year	(33,938)	131,406
Total Comprehensive Income/(loss) for the year	(34,018)	131,626
basic earnings/(loss) per share	(0.12)	0.47
diluted earnings/(loss) per share	(0.12)	0.35

Company release on Earnings Report can be accessed here.

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	62,775.00	63,715.00 62,520.00	-700.00 -1.10%
BRENT CRUDE	87.84	88.69 86.20	0.77 0.88%
RICHARDS BAY COAL MONTHLY	110.00	110.00 110.00	-0.65 -0.59%
ROTTERDAM COAL MONTHLY	122.30	122.30 122.30	0.30 0.25%
USD RBD PALM OLEIN	1,175.00	1,175.00 1,175.00	0.00 0.00%
CRUDE OIL - WTI	81.69	82.99 80.71	0.44 0.54%
SUGAR #11 WORLD	16.58	16.85 16.50	-0.24 -1.43%