SML reports 87% decline in year end net profit
February 14, 2020 Stanley Motta Limited (SML) for the year ended December 31, 2019, booked a 55% increase in revenue to total $418.56 million compared to $269.76 million for the same period in 2018. SML indicated that, “This is due to the 100% occupancy of all rentable space for the full year”. For the quarter, revenue increased by $8.49 million to $106.05 million in 2019 compared to $97.56 million the previous year. Administrative expenses amounted to $111.42 million (2018: $117.04 million), for the quarter, administrative expenses declined by $1.46 million closing at $34.33 million (2018: $35.78 million). Whereas, other operating
Wisynco reports 14% increase in six months net profit
February 14, 2020 Wisynco Group Limited (WISYNCO), for the six months ended December 31, 2019, reported total revenue of $17.11 billion, a 28% or $3.76 billion increase when compared with the $13.35 billion reported for the same period in 2018. Total revenues for the quarter amounted to $8.49 billion reflecting an increase of 25% over the $6.80 billion achieved in the corresponding quarter of the previous year. Management noted, “We had growth in all major product categories notwithstanding tempered demand for some products at the start of the 2nd Quarter due to rains which continued into early October.” Cost of
CHL posts 49% increase in first quarter net profit
February 14, 2020 Cargo Handlers Limited (CHL), for the three months ended December 31, 2019 reported revenue of $87.11 million, a 17% lower than the $104.87 million booked in 2018. Cost of sales closed at $1.70 million (2018: $3.30 million). As a result, gross profit amounted to $85.40 million compared to $101.57 million in the prior comparable period. In addition, other income totalled $75,000 (2018: nil). Administrative expenses decreased 34% to close at $6.47 million (2018: $9.80 million), while other operating expenses decreased by 3%, amounting to $38.74 million for the period relative to $39.88 million in 2018. Total expense