Carreras’ shareholders approve 10 to 1 stock spilt
The motion to subdivide the existing ordinary shares into 10 was approved by the majority of Carreras' shareholders, however not without objections by a few shareholders and a discussion regarding the matter. Management indicated that the main objective of the stock split was to improve the liquidity of the stock. Additionally, motions confirming the board, auditors and dividend payments were passed. Shareholders also passed a special resolution to adopt new articles of incorporation for the company. Management said that the move was to bring the company in line with industry best practises, as well as to improve the efficiency and
SOS reported 6% increase in net profit for second quarter 2017
SOS reported six months revenue of $431.79 million relative to 353.48 million in 2016 a 22% increase, while for the second quarter revenues amounted to $211.603 million up 24% compared to the $171.05 million reported in the corresponding period of 2016. The company’s cost of sales totaled $223.60 million up 24% relative to the $180.65 million reported in 2016. As a result gross profit grew by 20% amounting to $208.18 million relative to the $172.82 million booked in 2016, while gross profit for the quarter totaled $99.54 million (2016: $79.33 million). Administrative expenses totaled $107.24 million up 18% compared to
Daily Market Summary – September 04, 2017
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