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.

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