Systems Limited manifests 89.27% growth in bottom-line earnings for FY18

MG News | April 01, 2019 at 10:39 AM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

April 1, 2019 (MLN): Systems Limited has stated net earnings of Rs. 1.06 billion for the year ended December 31, 2018, approximately 89.27% higher than the earnings of last year. Moreover, the company’s basic Earnings per Share stood at Rs. 9.59 as compared to Rs. 5.11 last year.

As per an official report on the company’s financial earnings, the growth in profits was a result of improvement in sales revenue by Rs. 1.4 billion, which completely netted off any negative impact emanating from surge in cost of sales by Rs. 1.1 billion.

Moreover, the company gained further relief in the form of other income, which augmented by Rs. 293 million.

Despite a noteworthy increase in the taxation expense by 461%, the company still managed to perform outstandingly.

The company announced a final cash dividend for the period under review at Rs. 2 per share i.e. 20%.

Profit and loss account for the year ended December 31 2018 (Rupees)
	Dec-18	Dec-17	% Change
Revenue - net	5,323,922,442	3,832,429,037	38.92%
Cost of services	-3,795,122,571	-2,683,690,637	41.41%
Gross profit	1,528,799,871	1,148,738,400	33.09%
Distribution expenses	-90,539,319	-58,938,644	53.62%
Administrative expenses	-572,629,509	-484,005,420	18.31%
Other operating expenses	-138,347,792	-135,834,095	1.85%
Other income	408,460,653	114,980,509	255.24%
Operating profit	1,135,743,904	584,940,750	94.16%
Finance costs	-27,073,044	-15,786,491	71.50%
Profit before taxation	1,108,670,860	569,154,259	94.79%
Taxation	-47,387,580	-8,435,716	461.75%
Profit for the year	1,061,283,280	560,718,543	89.27%
Earnings per share
Basic earnings per share	9.59	5.11	87.67%
Diluted earnings per share	9.56	5.10	87.45%

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	179,571.27 436.67M	1.06% 1878.35
ALLSHR	108,600.94 844.23M	1.00% 1073.54
KSE30	53,548.42 162.02M	0.99% 525.53
KMI30	256,725.70 154.74M	0.76% 1936.43
KMIALLSHR	70,620.69 563.61M	0.98% 683.55
BKTi	48,625.03 36.31M	1.37% 658.39
OGTi	37,179.52 8.29M	0.94% 345.85

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	60,575.00	60,895.00 59,790.00	580.00 0.97%
BRENT CRUDE	73.08	75.13 71.38	-2.18 -2.90%
RICHARDS BAY COAL MONTHLY	103.50	0.00 0.00	0.25 0.24%
ROTTERDAM COAL MONTHLY	113.35	114.25 113.00	-0.05 -0.04%
USD RBD PALM OLEIN	1,135.00	1,135.00 1,135.00	0.00 0.00%
CRUDE OIL - WTI	70.24	71.86 68.56	-1.68 -2.34%
SUGAR #11 WORLD	14.55	14.68 14.02	0.45 3.19%