ELITE reports 808% increase in first quarter net profit
November 13, 2019 Elite Diagnostics Limited (ELITE), for the three months ended September 30, 2019 reported that Revenue increased by 38% to total $118 million compared to $85.44 million for the same period in 2018. The company highlighted, “The increase in revenue for the 2nd quarter is due to MRI scans and increase in Intervention procedures.” Cost of sales for the period showed an increase of 44%, moving from $27.57 million to $39.83 million. As such, gross profit amounted to $78.17 million, an increase of 35% when compared to $57.87 million recorded last year. Administrative expenses saw a jump of
CAR reports 1% decline in six months net profit
Date: November 13, 2019 Carreras Limited, for the six months ended September 30, 2019, reported Operating Revenue of $6.64 billion, 5% increase relative to $6.31 billion booked in 2018. The company highlighted that, “Our volume performance was negatively impacted, primarily in the month of September, by adverse weather conditions. The persistent rains affected the selling in cigarettes resulting in lost consumption moments.” Revenue for the quarter closed at $3.19 billion, compared to $3.16 billion reported for the second quarter of 2018. CAR also noted that, “two major priorities for the Company for the 2019/2020 financial year, being the implementation of
SML reports 90% decline in nine months net profit
Date: November 13, 2019 Stanley Motta Limited (SML) for the nine months ended September 30, 2019, booked a 81% increase in revenue to total $312.51 million compared to $172.21 million for the same period in 2018. For the third quarter revenue increased 39% to $107.09 million in 2019 compared to $76.86 million the previous year. SML noted that, “the increase over 2018 is due to increased rental space.” Administrative expenses amounted to $110.26 million (2018: $81.26 million), while other operating income totalled $68,000 (2018: $13,000). The Company stated that, “the results for the previous quarter included foreign exchange loss of