October 26, 2018 (MLN): Notable rise in topline earnings of Systems Ltd. (SYS) lifted the profits of the company by nearly 52% during the nine months ended September 30, 2018, as the company’s topline-gains increased by 38.69% or about Rs1 billion.
According to the financial results issued by the company, administrative cost increased by 42%, and distribution cost surged by 55%.
A more impactful change was witnessed in finance cost and taxation expenses which both grew by 121.52% and 87.54% respectively.
Yet, the company managed to make it through with substantial gains in profits.
Moreover, the basic and diluted earnings per share have been recorded at Rs.6.10 per share, while during the corresponding period of last year, earning per share stood at Rs.4.05 per share.
|
Consolidated Profit and Loss account for the nine months ended September 30th 2018 (Rupees) |
|||
|---|---|---|---|
|
|
Sep-18 |
Sep-17 |
% Change |
|
Revenue – net |
3,698,191,552 |
2,666,502,392 |
38.69% |
|
Cost of sales |
2,693,989,995 |
1,883,678,717 |
43.02% |
|
Gross profit |
1,004,201,557 |
782,823,675 |
28.28% |
|
Distribution cost |
97,482,786 |
62,846,211 |
55.11% |
|
Administrative expenses |
364,841,504 |
256,599,072 |
42.18% |
|
Other operating expenses |
45,427,766 |
46,232,319 |
-1.74% |
|
Other income |
211,244,410 |
43,440,116 |
386.29% |
|
Operating profit |
707,720,911 |
460,586,189 |
53.66% |
|
Finance cost |
16,355,956 |
7,383,565 |
121.52% |
|
Profit before taxation |
691,364,954 |
453,202,624 |
52.55% |
|
Taxation |
16,479,136 |
8,786,982 |
87.54% |
|
Profit after taxation |
674,885,818 |
444,415,642 |
51.86% |
|
Earnings per share – basic |
6.10 |
4.05 |
50.62% |
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