138 Student Living Jamaica Limited (138SL)
For the year September 30, 2017
Income for the year amounted to $573.54 million (2016: $255.1 million) while Other Operating Income increased to $27.85 million (2016: $40.05 million). As a result, Total Revenues increased to $601.39 million (2016: $295.15 million). Total Revenues for the quarter totalled $177.11 million relative to $95.12 million in 2016. Commenting on its results, the Company stated “having completed the re-construction of the iconic Irvine Hall, the Group achieved its major developmental objective for the financial year. Now with bed capacity of 1800 or doubling of rooms, the Group recorded a 104% increase in revenues reflecting real demand for its products.”
Administrative Expenses increased to $271.72 million relative to $166.75 million the prior year. As a result, Profit from Operation increased to $329.67 million (2016: $128.4 million).
The Company had a Finance Cost for the year totalling $309.91 million (2016: $152.42 million).
Consequently, Profit Before Taxation amounted to $19.75 million relative to a Profit Before Taxation in the prior year of $26.04 million. The Company had taxation credit of $31.93 million (2016: $50.07 million) and as a result, Net Profit for the year amounted to $51.69 million relative to a Net Profit last year of $26.04 million. Net profit for the quarter amounted to $21.21 million.
As such, the earning-per-share for the year amounted to $0.125 relative to earnings-per-share last year of $0.063 while the earnings-per-share for the fourth quarter amounted to $0.051 (2016: $0.13). The amount of shares used in our calculation is 414,500,000.
Balance Sheet Highlights:
The company, as at September 30, 2017, recorded Total Assets of $7.93 billion, an increase of 38% when compared to $5.74 billion recorded last year.
Total Stockholders’ Equity as at September 30, 2017 closed at $2.76 billion, compared to $2.08 billion for the corresponding period last year. This resulted in a book value of $6.65 per share compared to $5.02 as at September 30, 2016.
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