PACE Pakistan reports Q1 losses of Rs. 33.93 million

  • PACE Pakistan sales for the period decreased by 19.46%, amounting to a total of 78 million Rupees during three months ended September, 30th 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 30th 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.

Posted on: 2017-10-26T13:24:00+05:00