SOS books 78% increase in year end net profit
March 01, 2018 SOS reported year end revenue of $906.51 million relative to 702.07 million in 2016, a 29% increase, while for the fourth quarter revenues amounted to $241.63 million (2016: $178.35 million). The company’s cost of sales totaled $483.49 million up 33% relative to the $363.40 million reported in 2016. As a result gross profit grew by 25% amounting to $423.01 million relative to the $338.67 million booked in 2016. Gross profit for the quarter amounted to $104.50 million relative to $81.89 million in 2016. Administrative expenses totaled $236.63 million up 25% compared to the $193.40 million booked in
Daily Market Summary March 1, 2018
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GK reports 5% increase in year end net profit
Grace Kennedy Limited (GK), for the year ended December 31, 2017, recorded revenue of $92.48 billion for 2017 (2016: $88.27 billion), a year over year increase of 5%. For the quarter, the company increased revenue by 7% to total $23.18 billion (2016: $21.62 billion). The biggest contributor to the group’s overall revenue for the year was income from the ‘Food Trading’ segment which contributed a total of $72.79 billion (2016: $69.07 billion), an increase of 5% relative to the prior year’s corresponding period. Among the other segments contributing to revenue, ‘Banking & Investments’ increased 8% to total $6.05 billion. Revenue